A number of other research firms also recently issued reports on BLKB. BidaskClub downgraded shares of Blackbaud from a buy rating to a hold rating in a research report on Tuesday, September 3rd. DA Davidson upped their target price on shares of Blackbaud to $89.00 and gave the company a neutral rating in a research report on Thursday, August 1st. Zacks Investment Research downgraded shares of Blackbaud from a strong-buy rating to a hold rating and set a $101.00 target price on the stock. in a research report on Wednesday, August 7th. Finally, Bank of America restated an underperform rating and set a $80.00 target price (up from $70.00) on shares of Blackbaud in a research report on Thursday, August 1st. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus price target of $91.71.
Blackbaud stock opened at $93.09 on Monday. Blackbaud has a fifty-two week low of $58.23 and a fifty-two week high of $103.41. The company has a debt-to-equity ratio of 1.75, a quick ratio of 0.76 and a current ratio of 0.76. The firm has a 50 day moving average price of $91.40 and a 200 day moving average price of $82.89. The company has a market capitalization of $4.63 billion, a PE ratio of 60.41, a price-to-earnings-growth ratio of 9.26 and a beta of 1.21.
Blackbaud (NASDAQ:BLKB) last posted its earnings results on Tuesday, July 30th. The technology company reported $0.66 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.29 by $0.37. Blackbaud had a net margin of 3.04% and a return on equity of 20.51%. The firm had revenue of $226.40 million during the quarter, compared to the consensus estimate of $223.53 million. During the same quarter last year, the firm earned $0.69 EPS. The firm’s revenue for the quarter was up 8.2% on a year-over-year basis. As a group, equities research analysts forecast that Blackbaud will post 1.27 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Wednesday, August 28th were issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.52%. The ex-dividend date of this dividend was Tuesday, August 27th. Blackbaud’s dividend payout ratio is currently 25.67%.
In other news, Director George H. Ellis sold 2,000 shares of Blackbaud stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $88.20, for a total transaction of $176,400.00. Following the completion of the sale, the director now owns 4,404 shares of the company’s stock, valued at $388,432.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Joyce Nelson sold 1,000 shares of Blackbaud stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $88.62, for a total value of $88,620.00. Following the sale, the director now directly owns 12,051 shares of the company’s stock, valued at approximately $1,067,959.62. The disclosure for this sale can be found here. 1.56% of the stock is currently owned by company insiders.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Municipal Employees Retirement System of Michigan lifted its holdings in shares of Blackbaud by 1.5% during the second quarter. Municipal Employees Retirement System of Michigan now owns 8,980 shares of the technology company’s stock worth $750,000 after buying an additional 130 shares in the last quarter. Private Capital Group LLC increased its position in shares of Blackbaud by 13.3% in the second quarter. Private Capital Group LLC now owns 1,250 shares of the technology company’s stock worth $128,000 after purchasing an additional 147 shares during the period. Advisory Services Network LLC increased its position in shares of Blackbaud by 70.6% in the second quarter. Advisory Services Network LLC now owns 377 shares of the technology company’s stock worth $32,000 after purchasing an additional 156 shares during the period. Profund Advisors LLC increased its position in shares of Blackbaud by 3.0% in the second quarter. Profund Advisors LLC now owns 5,699 shares of the technology company’s stock worth $476,000 after purchasing an additional 168 shares during the period. Finally, Bank of Montreal Can increased its position in shares of Blackbaud by 1.4% in the first quarter. Bank of Montreal Can now owns 15,283 shares of the technology company’s stock worth $1,219,000 after purchasing an additional 215 shares during the period.
Blackbaud Company Profile
Blackbaud, Inc provides cloud software solutions to nonprofits, foundations, companies, education institutions, healthcare organizations, individual change agents, and other charitable giving entities. The company offers fundraising and relationship management solutions and services, including Blackbaud Raiser's Edge NXT, Blackbaud CRM, Blackbaud Luminate CRM, Blackbaud eTapestry, Blackbaud TeamRaiser, everydayhero, Blackbaud Peer-to-Peer Fundraising, and Blackbaud Guided Fundraising; and marketing and engagement solutions, such as Blackbaud Luminate Online, Blackbaud Online Express, Blackbaud NetCommunity, Blackbaud Attentive.ly, and Blackbaud School Website System.
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