Blackbaud Inc. (BLKB) Receives Average Rating of “Buy” from Analysts
Shares of Blackbaud Inc. (NASDAQ:BLKB) have received a consensus rating of “Buy” from the thirteen ratings firms that are presently covering the firm. One equities research analyst has rated the stock with a sell recommendation, four have given a hold recommendation and seven have issued a buy recommendation on the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $70.13.
Several analysts have recently commented on BLKB shares. Zacks Investment Research lowered Blackbaud from a “hold” rating to a “sell” rating in a report on Monday, October 31st. Off Wall Street began coverage on Blackbaud in a research note on Wednesday, July 27th. They issued a “sell” rating and a $50.00 target price for the company. JMP Securities began coverage on Blackbaud in a research note on Thursday, October 13th. They issued an “outperform” rating for the company. Wunderlich raised their target price on Blackbaud from $69.00 to $78.00 and gave the stock a “buy” rating in a research note on Tuesday, August 2nd. Finally, B. Riley restated a “buy” rating and issued a $75.00 target price on shares of Blackbaud in a research note on Tuesday, November 8th.
In other news, EVP Kevin W. Mooney sold 4,319 shares of the firm’s stock in a transaction dated Monday, November 7th. The stock was sold at an average price of $60.85, for a total transaction of $262,811.15. Following the sale, the executive vice president now directly owns 72,797 shares in the company, valued at approximately $4,429,697.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Joyce Nelson sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, November 15th. The shares were sold at an average price of $64.69, for a total value of $64,690.00. Following the sale, the director now owns 14,254 shares in the company, valued at $922,091.26. The disclosure for this sale can be found here. Company insiders own 2.74% of the company’s stock.
Several large investors have recently bought and sold shares of BLKB. BlackRock Inc. boosted its stake in Blackbaud by 49.0% in the first quarter. BlackRock Inc. now owns 3,197 shares of the company’s stock worth $201,000 after buying an additional 1,052 shares during the period. JPMorgan Chase & Co. boosted its stake in Blackbaud by 45.0% in the first quarter. JPMorgan Chase & Co. now owns 35,940 shares of the company’s stock worth $2,260,000 after buying an additional 11,157 shares during the period. State Street Corp boosted its stake in Blackbaud by 5.2% in the first quarter. State Street Corp now owns 1,025,799 shares of the company’s stock worth $64,510,000 after buying an additional 50,282 shares during the period. Goldman Sachs Group Inc. boosted its stake in Blackbaud by 57.9% in the first quarter. Goldman Sachs Group Inc. now owns 165,155 shares of the company’s stock worth $10,386,000 after buying an additional 60,570 shares during the period. Finally, Geode Capital Management LLC boosted its stake in Blackbaud by 6.8% in the first quarter. Geode Capital Management LLC now owns 327,592 shares of the company’s stock worth $20,602,000 after buying an additional 20,902 shares during the period.
Blackbaud (NASDAQ:BLKB) opened at 65.34 on Wednesday. The stock has a 50 day moving average price of $63.63 and a 200 day moving average price of $65.33. Blackbaud has a 12 month low of $49.89 and a 12 month high of $71.76. The stock has a market capitalization of $3.02 billion, a P/E ratio of 100.52 and a beta of 0.96.
Blackbaud (NASDAQ:BLKB) last issued its quarterly earnings data on Tuesday, November 1st. The company reported $0.45 EPS for the quarter, missing the consensus estimate of $0.51 by $0.06. Blackbaud had a net margin of 3.97% and a return on equity of 27.58%. The business had revenue of $183.10 million for the quarter, compared to analysts’ expectations of $184.68 million. During the same quarter in the prior year, the company posted $0.38 EPS. The business’s revenue for the quarter was up 15.3% on a year-over-year basis. Equities analysts predict that Blackbaud will post $1.90 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Wednesday, November 23rd will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Monday, November 21st. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.73%. Blackbaud’s payout ratio is currently 78.69%.
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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