Blackbaud Inc. (BLKB) Receives New Coverage from Analysts at JMP Securities
Investment analysts at JMP Securities started coverage on shares of Blackbaud Inc. (NASDAQ:BLKB) in a research report issued on Thursday. The firm set an “outperform” rating on the stock.
Other equities research analysts have also recently issued reports about the stock. B. Riley reissued a “buy” rating and issued a $77.00 price objective on shares of Blackbaud in a research note on Wednesday, August 3rd. Wunderlich increased their price objective on shares of Blackbaud from $69.00 to $78.00 and gave the company a “buy” rating in a research note on Tuesday, August 2nd. Stifel Nicolaus increased their price objective on shares of Blackbaud from $70.00 to $73.00 and gave the company a “buy” rating in a research note on Thursday, June 30th. Evercore Partners Inc. started coverage on shares of Blackbaud in a research note on Monday, June 27th. They issued a “hold” rating on the stock. Finally, Evercore ISI started coverage on shares of Blackbaud in a research note on Monday, June 27th. They issued a “hold” rating and a $70.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $70.90.
Shares of Blackbaud (NASDAQ:BLKB) opened at 64.11 on Thursday. Blackbaud has a 12 month low of $49.89 and a 12 month high of $71.76. The firm’s 50 day moving average is $66.35 and its 200-day moving average is $65.31. The firm has a market capitalization of $2.95 billion, a PE ratio of 110.53 and a beta of 1.16.
Blackbaud (NASDAQ:BLKB) last issued its quarterly earnings data on Monday, August 1st. The company reported $0.46 EPS for the quarter, missing the Zacks’ consensus estimate of $0.50 by $0.04. The business earned $180.20 million during the quarter, compared to analyst estimates of $182.05 million. Blackbaud had a net margin of 3.97% and a return on equity of 27.31%. Blackbaud’s revenue was up 15.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.41 earnings per share. On average, analysts expect that Blackbaud will post $1.92 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Friday, August 26th were issued a dividend of $0.12 per share. The ex-dividend date was Wednesday, August 24th. This represents a $0.48 annualized dividend and a dividend yield of 0.75%. Blackbaud’s payout ratio is currently 81.36%.
In other news, Director Joyce Nelson sold 600 shares of the stock in a transaction dated Tuesday, August 23rd. The shares were sold at an average price of $68.11, for a total transaction of $40,866.00. Following the transaction, the director now directly owns 15,254 shares in the company, valued at approximately $1,038,949.94. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Jon W. Olson sold 4,500 shares of the stock in a transaction dated Thursday, August 4th. The stock was sold at an average price of $66.88, for a total transaction of $300,960.00. Following the transaction, the senior vice president now owns 33,404 shares in the company, valued at $2,234,059.52. The disclosure for this sale can be found here. Insiders own 2.74% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Atlanta Capital Management Co. L L C raised its position in shares of Blackbaud by 5.9% in the second quarter. Atlanta Capital Management Co. L L C now owns 4,539,544 shares of the company’s stock valued at $308,235,000 after buying an additional 254,792 shares during the last quarter. Janus Capital Management LLC increased its stake in Blackbaud by 0.5% in the second quarter. Janus Capital Management LLC now owns 4,182,144 shares of the company’s stock worth $283,968,000 after buying an additional 19,457 shares during the period. Vanguard Group Inc. increased its stake in Blackbaud by 1.7% in the second quarter. Vanguard Group Inc. now owns 3,772,504 shares of the company’s stock worth $256,154,000 after buying an additional 61,918 shares during the period. BlackRock Fund Advisors increased its stake in Blackbaud by 3.3% in the second quarter. BlackRock Fund Advisors now owns 3,116,655 shares of the company’s stock worth $211,621,000 after buying an additional 98,142 shares during the period. Finally, Champlain Investment Partners LLC increased its stake in Blackbaud by 12.8% in the second quarter. Champlain Investment Partners LLC now owns 1,252,110 shares of the company’s stock worth $85,018,000 after buying an additional 141,820 shares during the period.
Blackbaud Company Profile
Blackbaud, Inc is a provider of software and services for the global philanthropic community. The Company’s segments include the General Markets Business Unit (the GMBU), the Enterprise Customer Business Unit (the ECBU) and the International Business Unit (the IBU). The GMBU is focused on marketing, sales, delivery and support to all emerging and mid-sized prospects and customers in North America.
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