Blackbaud, Inc. (NASDAQ:BLKB) Receives Average Rating of “Reduce” from Analysts

Blackbaud, Inc. (NASDAQ:BLKB) has received a consensus recommendation of “Reduce” from the four ratings firms that are covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation and three have assigned a hold recommendation to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $70.50.

BLKB has been the topic of a number of recent analyst reports. Weiss Ratings reissued a “sell (d)” rating on shares of Blackbaud in a research report on Wednesday. Wall Street Zen raised shares of Blackbaud from a “hold” rating to a “buy” rating in a research report on Saturday, August 2nd. Finally, Stifel Nicolaus dropped their price target on shares of Blackbaud from $75.00 to $65.00 and set a “hold” rating on the stock in a research report on Wednesday.

Blackbaud Price Performance

NASDAQ BLKB opened at $62.65 on Friday. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 12.92. The stock has a market capitalization of $3.04 billion, a PE ratio of -10.84, a price-to-earnings-growth ratio of 4.40 and a beta of 1.11. The company has a 50 day moving average price of $65.33 and a two-hundred day moving average price of $63.85. Blackbaud has a 12-month low of $58.05 and a 12-month high of $88.95.

Blackbaud (NASDAQ:BLKB) last posted its earnings results on Monday, March 4th. The technology company reported $0.68 earnings per share (EPS) for the quarter. Blackbaud had a negative net margin of 24.82% and a positive return on equity of 61.72%. The firm had revenue of $274.76 million during the quarter. As a group, equities analysts predict that Blackbaud will post 3.05 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, EVP Kevin P. Gregoire sold 8,000 shares of Blackbaud stock in a transaction that occurred on Wednesday, July 30th. The shares were sold at an average price of $72.67, for a total value of $581,360.00. Following the transaction, the executive vice president owned 111,156 shares of the company’s stock, valued at $8,077,706.52. This trade represents a 6.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Rupal S. Hollenbeck sold 2,500 shares of Blackbaud stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $63.98, for a total transaction of $159,950.00. Following the completion of the transaction, the director directly owned 7,966 shares in the company, valued at approximately $509,664.68. This represents a 23.89% decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.97% of the company’s stock.

Hedge Funds Weigh In On Blackbaud

A number of institutional investors and hedge funds have recently bought and sold shares of BLKB. Avantax Advisory Services Inc. increased its holdings in Blackbaud by 1.8% in the 1st quarter. Avantax Advisory Services Inc. now owns 11,816 shares of the technology company’s stock valued at $733,000 after buying an additional 210 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Blackbaud by 11.2% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,300 shares of the technology company’s stock valued at $143,000 after buying an additional 231 shares during the period. GAMMA Investing LLC increased its holdings in Blackbaud by 46.6% in the 3rd quarter. GAMMA Investing LLC now owns 777 shares of the technology company’s stock valued at $50,000 after buying an additional 247 shares during the period. UMB Bank n.a. increased its holdings in Blackbaud by 63.2% in the 1st quarter. UMB Bank n.a. now owns 692 shares of the technology company’s stock valued at $43,000 after buying an additional 268 shares during the period. Finally, Procyon Advisors LLC increased its holdings in Blackbaud by 8.0% in the 1st quarter. Procyon Advisors LLC now owns 3,722 shares of the technology company’s stock valued at $231,000 after buying an additional 275 shares during the period. Institutional investors own 94.21% of the company’s stock.

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.