Blackbaud, Inc. (BLKB) Receives $81.71 Consensus Price Target from Brokerages
Shares of Blackbaud, Inc. (NASDAQ:BLKB) have been given a consensus recommendation of “Hold” by the nine analysts that are covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating on the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $81.71.
A number of research analysts recently issued reports on the stock. Stifel Nicolaus raised their target price on shares of Blackbaud from $79.00 to $83.00 and gave the company a “buy” rating in a research note on Monday, May 1st. Benchmark Co. reiterated a “buy” rating and issued a $90.00 target price (up from $85.00) on shares of Blackbaud in a research note on Tuesday, May 2nd. B. Riley lowered shares of Blackbaud from a “buy” rating to a “neutral” rating and set a $78.00 target price on the stock. in a research note on Wednesday, May 3rd. Raymond James Financial, Inc. assumed coverage on shares of Blackbaud in a research note on Wednesday, April 19th. They issued an “outperform” rating and a $90.00 target price on the stock. Finally, Zacks Investment Research lowered shares of Blackbaud from a “hold” rating to a “sell” rating in a research note on Thursday, May 4th.
Shares of Blackbaud (NASDAQ:BLKB) traded down 0.55% during mid-day trading on Tuesday, reaching $87.48. 65,608 shares of the company were exchanged. The firm’s 50-day moving average is $88.51 and its 200-day moving average is $79.12. Blackbaud has a 12 month low of $55.88 and a 12 month high of $93.81. The company has a market capitalization of $4.08 billion, a price-to-earnings ratio of 84.20 and a beta of 0.77.
Blackbaud (NASDAQ:BLKB) last released its earnings results on Monday, July 31st. The technology company reported $0.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.51 by $0.12. Blackbaud had a return on equity of 30.88% and a net margin of 6.46%. The company had revenue of $192.50 million during the quarter, compared to analysts’ expectations of $193.66 million. During the same quarter in the previous year, the company earned $0.46 EPS. The firm’s quarterly revenue was up 6.4% compared to the same quarter last year. On average, equities analysts forecast that Blackbaud will post $2.14 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Monday, August 28th will be given a dividend of $0.12 per share. The ex-dividend date is Thursday, August 24th. This represents a $0.48 annualized dividend and a dividend yield of 0.55%. Blackbaud’s dividend payout ratio (DPR) is currently 47.06%.
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In other news, EVP Kevin W. Mooney sold 5,094 shares of Blackbaud stock in a transaction dated Tuesday, May 9th. The shares were sold at an average price of $79.11, for a total transaction of $402,986.34. Following the sale, the executive vice president now directly owns 85,976 shares in the company, valued at approximately $6,801,561.36. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP John J. Mistretta sold 596 shares of Blackbaud stock in a transaction dated Monday, May 22nd. The shares were sold at an average price of $82.00, for a total transaction of $48,872.00. Following the sale, the executive vice president now owns 86,278 shares in the company, valued at $7,074,796. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 14,224 shares of company stock worth $1,152,915. 2.74% of the stock is owned by company insiders.
Several hedge funds have recently modified their holdings of the stock. Northwestern Mutual Wealth Management Co. increased its position in shares of Blackbaud by 18.1% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 1,498 shares of the technology company’s stock valued at $115,000 after buying an additional 230 shares in the last quarter. Foundry Partners LLC purchased a new position in shares of Blackbaud during the first quarter valued at about $201,000. Cypress Wealth Advisors LLC purchased a new position in shares of Blackbaud during the first quarter valued at about $208,000. Piedmont Investment Advisors LLC purchased a new position in shares of Blackbaud during the first quarter valued at about $218,000. Finally, Raymond James Trust N.A. purchased a new position in shares of Blackbaud during the first quarter valued at about $220,000.
Blackbaud Company Profile
Blackbaud, Inc is a cloud software company. The Company offers a range of cloud and on-premise solutions, as well as a resource network that empowers and connects organizations of all sizes. Its segments include the General Markets Business Unit (the GMBU), the Enterprise Customer Business Unit (the ECBU) and the International Business Unit (the IBU).
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