Blackbaud, Inc. (BLKB) Receives Average Recommendation of “Hold” from Analysts

Shares of Blackbaud, Inc. (NASDAQ:BLKB) have earned a consensus rating of “Hold” from the fifteen brokerages that are covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a sell rating and twelve have given a hold rating to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $93.33.

Several research analysts have recently issued reports on BLKB shares. William Blair lowered shares of Blackbaud from an “outperform” rating to a “market perform” rating in a research note on Tuesday, July 31st. BidaskClub lowered shares of Blackbaud from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 1st. Zacks Investment Research lowered shares of Blackbaud from a “hold” rating to a “sell” rating in a research note on Thursday, August 2nd. Evercore ISI reaffirmed a “sell” rating and issued a $100.00 target price on shares of Blackbaud in a research note on Sunday, August 5th. Finally, Raymond James downgraded shares of Blackbaud from an “outperform” rating to a “market perform” rating in a research report on Tuesday, October 9th.

Shares of NASDAQ BLKB traded up $1.21 during mid-day trading on Monday, hitting $72.21. The company’s stock had a trading volume of 219,925 shares, compared to its average volume of 328,626. The firm has a market capitalization of $3.45 billion, a PE ratio of 45.42, a price-to-earnings-growth ratio of 5.03 and a beta of 1.11. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 1.15. Blackbaud has a one year low of $65.51 and a one year high of $120.35.

Blackbaud (NASDAQ:BLKB) last issued its earnings results on Monday, October 29th. The technology company reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.04. The company had revenue of $209.50 million for the quarter, compared to analyst estimates of $205.50 million. Blackbaud had a net margin of 7.84% and a return on equity of 25.79%. The company’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.57 EPS. As a group, equities research analysts anticipate that Blackbaud will post 1.69 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 14th. Investors of record on Wednesday, November 28th will be given a $0.12 dividend. The ex-dividend date is Tuesday, November 27th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.66%. Blackbaud’s dividend payout ratio is 30.19%.

In related news, Director Joyce Nelson sold 1,000 shares of the stock in a transaction that occurred on Monday, November 5th. The shares were sold at an average price of $73.03, for a total value of $73,030.00. Following the sale, the director now directly owns 15,051 shares in the company, valued at approximately $1,099,174.53. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.55% of the company’s stock.

Large investors have recently made changes to their positions in the stock. Principal Financial Group Inc. raised its holdings in Blackbaud by 0.7% during the 1st quarter. Principal Financial Group Inc. now owns 510,535 shares of the technology company’s stock worth $51,978,000 after buying an additional 3,697 shares during the period. Xact Kapitalforvaltning AB raised its holdings in Blackbaud by 24.5% during the 2nd quarter. Xact Kapitalforvaltning AB now owns 7,630 shares of the technology company’s stock worth $782,000 after buying an additional 1,500 shares during the period. Bank of Montreal Can raised its holdings in Blackbaud by 4.2% during the 2nd quarter. Bank of Montreal Can now owns 15,028 shares of the technology company’s stock worth $1,540,000 after buying an additional 609 shares during the period. Retirement Systems of Alabama raised its holdings in Blackbaud by 1.1% during the 2nd quarter. Retirement Systems of Alabama now owns 62,836 shares of the technology company’s stock worth $6,438,000 after buying an additional 655 shares during the period. Finally, Louisiana State Employees Retirement System raised its holdings in Blackbaud by 4.0% during the 2nd quarter. Louisiana State Employees Retirement System now owns 13,100 shares of the technology company’s stock worth $1,342,000 after buying an additional 500 shares during the period.

About Blackbaud

Blackbaud, Inc provides cloud software solutions to nonprofits, foundations, corporations, education institutions, healthcare organizations, and other charitable giving entities primarily in the United States, Canada, the United Kingdom, and Australia. The company offers Raiser's Edge NXT and Blackbaud CRM (constituent relationship management), which are fundraising and relationship management solutions; Luminate CRM for campaign management, constituent relations, business intelligence, and analytics; eTapestry, a cloud fundraising and donor management solution; everydayhero, a cloud crowdfundraising solution; and JustGiving, a social platform for giving.

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Analyst Recommendations for Blackbaud (NASDAQ:BLKB)

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