A number of other equities analysts have also recently issued reports on BLKB. Bank of America reiterated an underperform rating and issued a $80.00 price objective (up from $70.00) on shares of Blackbaud in a report on Thursday, August 1st. DA Davidson upped their price objective on Blackbaud to $89.00 and gave the stock a neutral rating in a report on Thursday, August 1st. Zacks Investment Research cut Blackbaud from a strong-buy rating to a hold rating and set a $101.00 price objective for the company. in a report on Wednesday, August 7th. Finally, ValuEngine upgraded Blackbaud from a hold rating to a buy rating in a report on Tuesday, July 2nd. One analyst has rated the stock with a sell rating, eight have given a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of Hold and a consensus target price of $91.71.
BLKB opened at $90.86 on Wednesday. The stock has a 50-day moving average price of $88.05 and a 200-day moving average price of $80.89. Blackbaud has a 12-month low of $58.23 and a 12-month high of $105.69. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 1.75. The stock has a market capitalization of $4.73 billion, a P/E ratio of 48.59, a PEG ratio of 9.45 and a beta of 1.22.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Wednesday, August 28th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.53%. The ex-dividend date of this dividend is Tuesday, August 27th. Blackbaud’s dividend payout ratio (DPR) is presently 25.67%.
In other news, EVP Kevin W. Mooney sold 8,858 shares of the business’s stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $80.00, for a total value of $708,640.00. Following the completion of the sale, the executive vice president now owns 92,901 shares of the company’s stock, valued at approximately $7,432,080. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Joyce Nelson sold 1,000 shares of the business’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $88.62, for a total value of $88,620.00. Following the completion of the sale, the director now directly owns 12,051 shares of the company’s stock, valued at approximately $1,067,959.62. The disclosure for this sale can be found here. In the last three months, insiders sold 12,258 shares of company stock valued at $1,004,452. 1.56% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. boosted its stake in Blackbaud by 1.7% during the 2nd quarter. BlackRock Inc. now owns 5,704,970 shares of the technology company’s stock valued at $476,366,000 after purchasing an additional 95,043 shares during the last quarter. Royal Bank of Canada boosted its stake in Blackbaud by 21.1% during the 2nd quarter. Royal Bank of Canada now owns 36,424 shares of the technology company’s stock valued at $3,042,000 after purchasing an additional 6,334 shares during the last quarter. Private Capital Group LLC boosted its stake in Blackbaud by 13.3% during the 2nd quarter. Private Capital Group LLC now owns 1,250 shares of the technology company’s stock valued at $128,000 after purchasing an additional 147 shares during the last quarter. Voloridge Investment Management LLC purchased a new stake in Blackbaud during the 2nd quarter valued at $291,000. Finally, Nuveen Asset Management LLC purchased a new stake in Blackbaud during the 2nd quarter valued at $20,230,000.
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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