Blackbaud (NASDAQ:BLKB) Upgraded by ValuEngine to Strong-Buy

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ValuEngine upgraded shares of Blackbaud (NASDAQ:BLKB) from a buy rating to a strong-buy rating in a research note issued to investors on Monday morning, ValuEngine reports.

A number of other equities research analysts have also recently commented on the company. Bank of America reissued an underperform rating and issued a $80.00 target price (up from $70.00) on shares of Blackbaud in a research note on Thursday, August 1st. BidaskClub cut Blackbaud from a buy rating to a hold rating in a research note on Tuesday, September 3rd. DA Davidson increased their target price on Blackbaud to $89.00 and gave the stock a neutral rating in a research note on Thursday, August 1st. Finally, Zacks Investment Research cut Blackbaud from a strong-buy rating to a hold rating and set a $101.00 price objective on the stock. in a research report on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and one has assigned a strong buy rating to the stock. Blackbaud currently has a consensus rating of Hold and an average target price of $91.71.

NASDAQ BLKB opened at $93.50 on Monday. Blackbaud has a 12 month low of $58.23 and a 12 month high of $105.64. The stock has a market cap of $4.55 billion, a P/E ratio of 50.00, a P/E/G ratio of 9.09 and a beta of 1.21. The stock’s fifty day moving average price is $91.28 and its 200-day moving average price is $82.82. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 1.75.

Blackbaud (NASDAQ:BLKB) last released its earnings results on Tuesday, July 30th. The technology company reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.37. Blackbaud had a return on equity of 20.51% and a net margin of 3.04%. The firm had revenue of $226.40 million for the quarter, compared to analysts’ expectations of $223.53 million. During the same period in the prior year, the firm posted $0.69 earnings per share. The company’s quarterly revenue was up 8.2% on a year-over-year basis. As a group, analysts forecast that Blackbaud will post 1.27 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Wednesday, August 28th were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Tuesday, August 27th. This represents a $0.48 annualized dividend and a dividend yield of 0.51%. Blackbaud’s dividend payout ratio (DPR) is presently 25.67%.

In related news, Director Joyce Nelson sold 1,000 shares of the stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $88.62, for a total transaction of $88,620.00. Following the sale, the director now directly owns 12,051 shares of the company’s stock, valued at $1,067,959.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director George H. Ellis sold 2,000 shares of the stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $88.20, for a total value of $176,400.00. Following the sale, the director now directly owns 4,404 shares in the company, valued at $388,432.80. The disclosure for this sale can be found here. Company insiders own 1.56% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in BLKB. Parkside Financial Bank & Trust purchased a new stake in shares of Blackbaud during the second quarter valued at $25,000. Advisory Services Network LLC boosted its position in shares of Blackbaud by 70.6% during the second quarter. Advisory Services Network LLC now owns 377 shares of the technology company’s stock valued at $32,000 after buying an additional 156 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. purchased a new stake in shares of Blackbaud during the second quarter valued at $77,000. Tower Research Capital LLC TRC boosted its position in shares of Blackbaud by 1,097.6% during the second quarter. Tower Research Capital LLC TRC now owns 1,473 shares of the technology company’s stock valued at $123,000 after buying an additional 1,350 shares during the last quarter. Finally, Private Capital Group LLC boosted its position in shares of Blackbaud by 13.3% during the second quarter. Private Capital Group LLC now owns 1,250 shares of the technology company’s stock valued at $128,000 after buying an additional 147 shares during the last quarter.

Blackbaud Company Profile

Blackbaud, Inc provides cloud software solutions to nonprofits, foundations, companies, education institutions, healthcare organizations, individual change agents, and other charitable giving entities. The company offers fundraising and relationship management solutions and services, including Blackbaud Raiser's Edge NXT, Blackbaud CRM, Blackbaud Luminate CRM, Blackbaud eTapestry, Blackbaud TeamRaiser, everydayhero, Blackbaud Peer-to-Peer Fundraising, and Blackbaud Guided Fundraising; and marketing and engagement solutions, such as Blackbaud Luminate Online, Blackbaud Online Express, Blackbaud NetCommunity, Blackbaud Attentive.ly, and Blackbaud School Website System.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Blackbaud (NASDAQ:BLKB)

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