ValuEngine Upgrades Blackbaud (NASDAQ:BLKB) to “Strong-Buy”

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

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

Blackbaud stock opened at $93.09 on Monday. The stock’s 50 day moving average is $91.40 and its 200 day moving average is $82.89. The company has a debt-to-equity ratio of 1.75, a current ratio of 0.76 and a quick ratio of 0.76. The firm has a market cap of $4.63 billion, a P/E ratio of 60.41, a P/E/G ratio of 9.26 and a beta of 1.21. Blackbaud has a one year low of $58.23 and a one year high of $103.41.

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

The firm also recently declared a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Wednesday, August 28th were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 0.52%. The ex-dividend date of this dividend was Tuesday, August 27th. Blackbaud’s dividend payout ratio (DPR) is presently 25.67%.

In other Blackbaud news, Director Joyce Nelson sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $88.62, for a total value of $88,620.00. Following the transaction, the director now directly owns 12,051 shares of the company’s stock, valued at $1,067,959.62. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director George H. Ellis sold 2,000 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, 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. 1.56% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Municipal Employees Retirement System of Michigan increased its holdings in shares of Blackbaud by 1.5% during the second quarter. Municipal Employees Retirement System of Michigan now owns 8,980 shares of the technology company’s stock valued at $750,000 after acquiring an additional 130 shares in the last quarter. Private Capital Group LLC increased its holdings 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 acquiring an additional 147 shares in the last quarter. Advisory Services Network LLC increased its holdings 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 acquiring an additional 156 shares in the last quarter. Profund Advisors LLC increased its holdings in shares of Blackbaud by 3.0% during the second quarter. Profund Advisors LLC now owns 5,699 shares of the technology company’s stock valued at $476,000 after acquiring an additional 168 shares in the last quarter. Finally, Bank of Montreal Can increased its holdings in shares of Blackbaud by 1.4% during the first quarter. Bank of Montreal Can now owns 15,283 shares of the technology company’s stock valued at $1,219,000 after acquiring an additional 215 shares in 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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Analyst Recommendations for Blackbaud (NASDAQ:BLKB)

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