Blackbaud (NASDAQ:BLKB) Downgraded to Hold at StockNews.com

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

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

Blackbaud Trading Down 0.3 %

Shares of BLKB stock opened at $76.48 on Friday. The firm has a market capitalization of $4.09 billion, a P/E ratio of 2,549.33, a P/E/G ratio of 3.36 and a beta of 1.04. Blackbaud has a twelve month low of $64.32 and a twelve month high of $88.56. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.94. The stock’s fifty day simple moving average is $72.48 and its 200 day simple moving average is $76.07.

Blackbaud (NASDAQ:BLKB) last released its quarterly earnings results on Tuesday, February 13th. The technology company reported $1.14 EPS for the quarter, beating analysts’ consensus estimates of $1.05 by $0.09. Blackbaud had a return on equity of 14.59% and a net margin of 0.16%. The firm had revenue of $295.01 million for the quarter, compared to analyst estimates of $299.04 million. During the same quarter in the previous year, the company posted $0.28 EPS. The business’s revenue was up 7.4% on a year-over-year basis. As a group, sell-side analysts predict that Blackbaud will post 2.35 EPS for the current fiscal year.

Insider Activity

In other news, CEO Michael P. Gianoni sold 5,360 shares of the business’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $74.05, for a total value of $396,908.00. Following the transaction, the chief executive officer now directly owns 413,114 shares of the company’s stock, valued at approximately $30,591,091.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Michael P. Gianoni sold 5,360 shares of the business’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $74.05, for a total value of $396,908.00. Following the transaction, the chief executive officer now directly owns 413,114 shares of the company’s stock, valued at approximately $30,591,091.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael P. Gianoni sold 5,799 shares of the business’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $74.02, for a total value of $429,241.98. Following the completion of the transaction, the chief executive officer now directly owns 402,060 shares in the company, valued at $29,760,481.20. The disclosure for this sale can be found here. Insiders have sold 59,897 shares of company stock valued at $4,377,015 in the last ninety days. 1.89% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in BLKB. Morgan Stanley raised its stake in Blackbaud by 865.3% during the 4th quarter. Morgan Stanley now owns 3,970,062 shares of the technology company’s stock worth $233,678,000 after buying an additional 3,558,788 shares during the period. First Trust Advisors LP raised its stake in Blackbaud by 2,238.8% during the 1st quarter. First Trust Advisors LP now owns 534,740 shares of the technology company’s stock worth $32,015,000 after buying an additional 511,876 shares during the period. Norges Bank bought a new stake in Blackbaud during the 4th quarter worth approximately $43,589,000. Vanguard Group Inc. increased its holdings in Blackbaud by 7.4% during the 1st quarter. Vanguard Group Inc. now owns 4,916,663 shares of the technology company’s stock worth $294,361,000 after purchasing an additional 339,922 shares in the last quarter. Finally, Public Employees Retirement Association of Colorado increased its holdings in Blackbaud by 1,371.9% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 340,098 shares of the technology company’s stock worth $29,486,000 after purchasing an additional 316,992 shares in the last quarter. 94.21% of the stock is owned by institutional investors and hedge funds.

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.