Brokerages Set Blackbaud, Inc. (NASDAQ:BLKB) Price Target at $78.67

Blackbaud, Inc. (NASDAQ:BLKB) has received an average rating of “Hold” from the five research firms that are covering the stock, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $78.67.

A number of equities analysts have recently commented on the stock. Stifel Nicolaus cut their target price on shares of Blackbaud from $75.00 to $65.00 and set a “hold” rating on the stock in a report on Thursday, May 1st. Robert W. Baird cut their target price on shares of Blackbaud from $80.00 to $76.00 and set a “neutral” rating on the stock in a report on Wednesday, February 19th.

Blackbaud Stock Down 1.2%

Shares of NASDAQ:BLKB opened at $63.38 on Monday. The company has a market capitalization of $3.08 billion, a PE ratio of -10.74 and a beta of 1.16. The company has a current ratio of 0.78, a quick ratio of 0.68 and a debt-to-equity ratio of 7.40. Blackbaud has a twelve month low of $58.05 and a twelve month high of $88.95. The firm has a 50 day simple moving average of $62.73 and a 200-day simple moving average of $72.57.

Blackbaud (NASDAQ:BLKB) last announced its earnings results on Wednesday, April 30th. The technology company reported $0.96 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.06. The business had revenue of $270.66 million for the quarter, compared to analysts’ expectations of $268.53 million. Blackbaud had a negative net margin of 24.83% and a positive return on equity of 26.30%. The company’s quarterly revenue was down 3.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.93 EPS. On average, equities analysts predict that Blackbaud will post 3.05 EPS for the current fiscal year.

Insider Buying and Selling at Blackbaud

In other Blackbaud news, SVP Jon W. Olson sold 10,698 shares of the business’s stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $61.15, for a total value of $654,182.70. Following the transaction, the senior vice president now directly owns 23,799 shares of the company’s stock, valued at approximately $1,455,308.85. The trade was a 31.01% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.95% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Blackbaud

Several institutional investors have recently bought and sold shares of the company. Janus Henderson Group PLC increased its stake in Blackbaud by 1.2% in the 4th quarter. Janus Henderson Group PLC now owns 2,885,062 shares of the technology company’s stock valued at $213,263,000 after buying an additional 34,600 shares during the period. ArrowMark Colorado Holdings LLC boosted its position in shares of Blackbaud by 3.6% during the 4th quarter. ArrowMark Colorado Holdings LLC now owns 1,329,308 shares of the technology company’s stock worth $98,262,000 after purchasing an additional 45,835 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Blackbaud by 0.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,019,923 shares of the technology company’s stock worth $75,393,000 after purchasing an additional 3,119 shares in the last quarter. Northern Trust Corp boosted its position in shares of Blackbaud by 9.1% during the 4th quarter. Northern Trust Corp now owns 693,577 shares of the technology company’s stock worth $51,269,000 after purchasing an additional 57,941 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of Blackbaud by 41.0% during the 4th quarter. Bank of New York Mellon Corp now owns 482,561 shares of the technology company’s stock worth $35,671,000 after purchasing an additional 140,273 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.