Blackbaud, Inc. (NASDAQ:BLKB) Receives $76.13 Average Price Target from Analysts
Shares of Blackbaud, Inc. (NASDAQ:BLKB) have been assigned a consensus rating of “Hold” from the nine research firms that are currently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $81.71.
BLKB has been the subject of a number of research reports. Zacks Investment Research upgraded shares of Blackbaud from a “sell” rating to a “hold” rating in a report on Tuesday, August 1st. Benchmark Co. dropped their price objective on shares of Blackbaud from $100.00 to $90.00 and set a “buy” rating for the company in a report on Tuesday, June 27th. B. Riley reiterated a “neutral” rating and issued a $78.00 price objective on shares of Blackbaud in a report on Wednesday. Raymond James Financial, Inc. initiated coverage on shares of Blackbaud in a report on Wednesday, April 19th. They issued an “outperform” rating and a $90.00 price objective for the company. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $96.00 price objective on shares of Blackbaud in a report on Friday, July 21st.
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In other Blackbaud news, EVP John J. Mistretta sold 4,016 shares of the firm’s stock in a transaction that occurred on Thursday, May 25th. The shares were sold at an average price of $83.00, for a total transaction of $333,328.00. Following the completion of the transaction, the executive vice president now owns 87,165 shares in the company, valued at approximately $7,234,695. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Kevin W. Mooney sold 5,094 shares of the firm’s stock in a transaction that occurred on Tuesday, May 9th. The stock was sold at an average price of $79.11, for a total transaction of $402,986.34. Following the transaction, the executive vice president now owns 85,976 shares of the company’s stock, valued at approximately $6,801,561.36. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 14,224 shares of company stock valued at $1,152,915. Company insiders own 2.74% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. Northwestern Mutual Wealth Management Co. raised its stake in 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 bought a new stake in Blackbaud during the first quarter valued at $201,000. Cypress Wealth Advisors LLC bought a new stake in Blackbaud during the first quarter valued at $208,000. Piedmont Investment Advisors LLC bought a new stake in Blackbaud during the first quarter valued at $218,000. Finally, Raymond James Trust N.A. bought a new stake in Blackbaud during the first quarter valued at $220,000.
Shares of Blackbaud (BLKB) opened at 87.66 on Friday. The company’s 50 day moving average is $88.51 and its 200-day moving average is $79.12. Blackbaud has a 1-year low of $55.88 and a 1-year high of $93.81. The company has a market capitalization of $4.09 billion, a P/E ratio of 84.37 and a beta of 0.77.
Blackbaud (NASDAQ:BLKB) last issued its quarterly earnings data 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. The business had revenue of $192.50 million during the quarter, compared to the consensus estimate of $193.66 million. Blackbaud had a net margin of 6.46% and a return on equity of 30.88%. The firm’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same quarter last year, the business earned $0.46 EPS. On average, equities research analysts forecast that Blackbaud will post $2.14 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Monday, August 28th will be issued a dividend of $0.12 per share. The ex-dividend date is Thursday, August 24th. This represents a $0.48 annualized dividend and a yield of 0.55%. Blackbaud’s payout ratio is 47.06%.
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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