Blackbaud (BLKB) Downgraded to “Sell” at BidaskClub

Blackbaud (NASDAQ:BLKB) was downgraded by research analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued to investors on Friday.

Other equities analysts also recently issued research reports about the company. B. Riley set a $82.00 price target on Blackbaud and gave the company a “hold” rating in a report on Thursday, October 19th. Robert W. Baird raised their price target on Blackbaud from $85.00 to $95.00 and gave the company a “neutral” rating in a report on Monday, October 23rd. Zacks Investment Research upgraded Blackbaud from a “hold” rating to a “buy” rating and set a $115.00 price target for the company in a report on Monday, October 30th. Citigroup set a $112.00 price target on Blackbaud and gave the company a “buy” rating in a report on Friday, October 27th. Finally, Dougherty & Co assumed coverage on Blackbaud in a report on Tuesday, October 31st. They set a “neutral” rating for the company. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company. Blackbaud presently has a consensus rating of “Hold” and an average target price of $94.75.

Blackbaud (NASDAQ:BLKB) opened at $94.48 on Friday. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 1.19. The stock has a market capitalization of $4,522.35, a price-to-earnings ratio of 86.68, a price-to-earnings-growth ratio of 5.05 and a beta of 0.83. Blackbaud has a twelve month low of $61.98 and a twelve month high of $104.55.

Blackbaud (NASDAQ:BLKB) last posted its quarterly earnings data on Wednesday, October 25th. The technology company reported $0.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.05. The business had revenue of $195.51 million during the quarter, compared to the consensus estimate of $196.35 million. Blackbaud had a return on equity of 31.25% and a net margin of 6.82%. The firm’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.45 earnings per share. equities analysts forecast that Blackbaud will post 1.57 EPS for the current year.

In other news, Director George H. Ellis sold 1,500 shares of the firm’s stock in a transaction on Tuesday, October 31st. The stock was sold at an average price of $101.47, for a total transaction of $152,205.00. Following the completion of the transaction, the director now directly owns 7,511 shares in the company, valued at $762,141.17. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Brian Boruff sold 800 shares of the firm’s stock in a transaction on Wednesday, November 22nd. The shares were sold at an average price of $103.95, for a total value of $83,160.00. Following the transaction, the executive vice president now owns 50,862 shares of the company’s stock, valued at $5,287,104.90. The disclosure for this sale can be found here. Insiders have sold 9,655 shares of company stock valued at $972,923 over the last 90 days. Corporate insiders own 2.19% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BLKB. ETF Managers Group LLC bought a new stake in Blackbaud in the 2nd quarter worth about $125,000. Northwestern Mutual Wealth Management Co. increased its holdings in Blackbaud by 2.6% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,537 shares of the technology company’s stock worth $132,000 after buying an additional 39 shares in the last quarter. QS Investors LLC increased its holdings in Blackbaud by 157.1% in the 2nd quarter. QS Investors LLC now owns 1,800 shares of the technology company’s stock worth $154,000 after buying an additional 1,100 shares in the last quarter. Contravisory Investment Management Inc. bought a new stake in Blackbaud in the 4th quarter worth about $157,000. Finally, Verition Fund Management LLC bought a new stake in Blackbaud in the 2nd quarter worth about $228,000.

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About Blackbaud

Blackbaud, Inc is a cloud software company. The Company offers a range of cloud and on-premise solutions, as well as a resource network that empowers and connects organizations of all sizes. Its segments include the General Markets Business Unit (the GMBU), the Enterprise Customer Business Unit (the ECBU) and the International Business Unit (the IBU).

Analyst Recommendations for Blackbaud (NASDAQ:BLKB)

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