Shares of Blackbaud, Inc. (NASDAQ:BLKB) have earned an average rating of “Hold” from the nine ratings firms that are currently covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating on the company. The average 1 year price target among brokers that have covered the stock in the last year is $81.71.
BLKB has been the topic of a number of recent research reports. Stifel Nicolaus reaffirmed a “buy” rating and issued a $96.00 price objective on shares of Blackbaud in a research note on Friday, July 21st. Benchmark Co. dropped their price target on shares of Blackbaud from $100.00 to $90.00 and set a “buy” rating on the stock in a research report on Tuesday, June 27th. Zacks Investment Research raised shares of Blackbaud from a “sell” rating to a “hold” rating in a research report on Tuesday, August 1st. B. Riley reissued a “neutral” rating and set a $78.00 price target on shares of Blackbaud in a research report on Monday. Finally, Raymond James Financial, Inc. began coverage on shares of Blackbaud in a research report on Wednesday, April 19th. They set an “outperform” rating and a $90.00 price target on the stock.
In other news, EVP Kevin W. Mooney sold 2,338 shares of Blackbaud stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $88.00, for a total value of $205,744.00. Following the completion of the transaction, the executive vice president now owns 83,638 shares in the company, valued at $7,360,144. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP John J. Mistretta sold 596 shares of Blackbaud stock in a transaction dated Monday, May 22nd. The stock was sold at an average price of $82.00, for a total transaction of $48,872.00. Following the completion of the transaction, the executive vice president now owns 86,278 shares of the company’s stock, valued at approximately $7,074,796. The disclosure for this sale can be found here. Insiders sold 15,468 shares of company stock valued at $1,306,753 in the last quarter. Corporate insiders own 2.74% of the company’s stock.
A number of institutional investors have recently modified their holdings of the stock. Macquarie Group Ltd. boosted its position in shares of Blackbaud by 1.0% in the fourth quarter. Macquarie Group Ltd. now owns 695,598 shares of the technology company’s stock valued at $44,518,000 after buying an additional 6,873 shares in the last quarter. Foundry Partners LLC purchased a new position in shares of Blackbaud during the first quarter valued at approximately $201,000. Raymond James Trust N.A. purchased a new position in shares of Blackbaud during the first quarter valued at approximately $220,000. Bank of Montreal Can boosted its position in shares of Blackbaud by 0.7% in the first quarter. Bank of Montreal Can now owns 15,456 shares of the technology company’s stock valued at $1,185,000 after buying an additional 111 shares in the last quarter. Finally, Daiwa SB Investments Ltd. bought a new position in Blackbaud during the first quarter worth approximately $788,000.
Shares of Blackbaud (NASDAQ BLKB) traded up 0.56% during trading on Tuesday, hitting $84.84. 32,888 shares of the stock traded hands. The firm has a market capitalization of $3.96 billion, a price-to-earnings ratio of 81.66 and a beta of 0.77. Blackbaud has a 1-year low of $55.88 and a 1-year high of $93.81. The firm has a 50-day moving average of $88.60 and a 200-day moving average of $79.85.
Blackbaud (NASDAQ:BLKB) last released its quarterly earnings data on Monday, July 31st. The technology company reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates of $0.51 by $0.12. Blackbaud had a net margin of 6.46% and a return on equity of 30.88%. The business had revenue of $192.50 million during the quarter, compared to the consensus estimate of $193.66 million. During the same period last year, the business posted $0.46 earnings per share. The firm’s quarterly revenue was up 6.4% on a year-over-year basis. On average, equities analysts forecast that Blackbaud will post $2.14 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Monday, August 28th will be paid a $0.12 dividend. The ex-dividend date is Thursday, August 24th. This represents a $0.48 annualized dividend and a dividend yield of 0.57%. Blackbaud’s payout ratio is 47.06%.
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Blackbaud, Inc is a cloud software company. The Company offers a range of cloud and on-premise solutions, as well as a resource network that empowers and connects organizations of all sizes. Its segments include the General Markets Business Unit (the GMBU), the Enterprise Customer Business Unit (the ECBU) and the International Business Unit (the IBU).
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