StockNews.com Lowers Blackbaud (NASDAQ:BLKB) to Hold

StockNews.com cut shares of Blackbaud (NASDAQ:BLKB) from a buy rating to a hold rating in a research note released on Friday.

Separately, Robert W. Baird cut their price target on Blackbaud from $95.00 to $88.00 and set an outperform rating on the stock in a research note on Wednesday, February 14th.

Blackbaud Stock Performance

BLKB stock opened at $78.63 on Friday. Blackbaud has a twelve month low of $64.32 and a twelve month high of $88.56. The firm has a market cap of $4.20 billion, a price-to-earnings ratio of 2,621.00 and a beta of 1.04. The business’s fifty day simple moving average is $72.39 and its two-hundred day simple moving average is $76.23. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.94.

Blackbaud (NASDAQ:BLKB) last posted its quarterly earnings results on Tuesday, February 13th. The technology company reported $1.14 EPS for the quarter, topping the consensus estimate of $1.05 by $0.09. The company had revenue of $295.01 million for the quarter, compared to the consensus estimate of $299.04 million. Blackbaud had a net margin of 0.16% and a return on equity of 14.59%. The firm’s revenue was up 7.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.28 EPS. Analysts predict that Blackbaud will post 2.35 earnings per share for the current year.

Insider Transactions at Blackbaud

In related news, CEO Michael P. Gianoni sold 25,354 shares of the company’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $68.77, for a total transaction of $1,743,594.58. Following the transaction, the chief executive officer now directly owns 357,104 shares of the company’s stock, valued at approximately $24,558,042.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CEO Michael P. Gianoni sold 25,354 shares of Blackbaud stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $68.77, for a total value of $1,743,594.58. Following the completion of the sale, the chief executive officer now directly owns 357,104 shares in the company, valued at approximately $24,558,042.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Anthony W. Boor sold 6,900 shares of the company’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $79.01, for a total transaction of $545,169.00. Following the transaction, the chief financial officer now owns 151,368 shares in the company, valued at approximately $11,959,585.68. The disclosure for this sale can be found here. Insiders sold 59,897 shares of company stock valued at $4,377,015 in the last quarter. 1.89% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Blackbaud

Institutional investors have recently bought and sold shares of the business. Legato Capital Management LLC purchased a new stake in shares of Blackbaud in the third quarter worth about $224,000. SG Americas Securities LLC boosted its position in Blackbaud by 859.2% in the 3rd quarter. SG Americas Securities LLC now owns 24,930 shares of the technology company’s stock worth $1,753,000 after purchasing an additional 22,331 shares in the last quarter. FSC Wealth Advisors LLC acquired a new stake in shares of Blackbaud during the 3rd quarter worth approximately $40,000. Redmond Asset Management LLC purchased a new position in shares of Blackbaud during the 3rd quarter valued at approximately $1,890,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Blackbaud by 10.6% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,915 shares of the technology company’s stock valued at $627,000 after purchasing an additional 852 shares during the period. 94.21% of the stock is owned by hedge funds and other institutional investors.

Blackbaud Company Profile

Blackbaud, Inc provides cloud software solutions to nonprofits, foundations, education institutions, and healthcare organizations in the United States and internationally. The company offers fundraising and engagement solutions, such as Blackbaud Raiser's Edge NXT, Blackbaud CRM, Blackbaud eTapestry, Blackbaud Luminate Online, Blackbaud TeamRaiser, JustGiving, Blackbaud Fundraiser Performance Management, Blackbaud Guided Fundraising, and Blackbaud Altru; and financial management solutions comprising Blackbaud Financial Edge NXT, Blackbaud Tuition Management, and Blackbaud Financial Aid and Billing Management.