Blackbaud, Inc. (BLKB) Given Consensus Recommendation of “Hold” by Brokerages
Blackbaud, Inc. (NASDAQ:BLKB) has been given a consensus rating of “Hold” by the nine research firms that are currently covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $81.71.
A number of research analysts recently weighed in on the company. Stifel Nicolaus upped their price objective on Blackbaud from $79.00 to $83.00 and gave the stock a “buy” rating in a report on Monday, May 1st. Zacks Investment Research lowered Blackbaud from a “hold” rating to a “strong sell” rating in a report on Monday, August 7th. Benchmark Co. reaffirmed a “buy” rating and set a $90.00 price objective (up previously from $85.00) on shares of Blackbaud in a report on Tuesday, May 2nd. Finally, B. Riley lowered Blackbaud from a “buy” rating to a “neutral” rating and set a $78.00 price objective on the stock. in a report on Wednesday, May 3rd.
In other Blackbaud news, Director George H. Ellis sold 3,000 shares of the company’s stock in a transaction on Monday, August 14th. The stock was sold at an average price of $85.40, for a total value of $256,200.00. Following the sale, the director now owns 9,011 shares of the company’s stock, valued at $769,539.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Sarah E. Nash sold 1,105 shares of the company’s stock in a transaction on Tuesday, August 22nd. The shares were sold at an average price of $84.78, for a total value of $93,681.90. Following the completion of the sale, the director now directly owns 22,272 shares in the company, valued at approximately $1,888,220.16. The disclosure for this sale can be found here. Insiders sold 15,470 shares of company stock worth $1,326,561 in the last three months. 2.74% of the stock is owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of the stock. Miles Capital Inc. increased its stake in shares of Blackbaud by 0.3% in the first quarter. Miles Capital Inc. now owns 4,112 shares of the technology company’s stock valued at $315,000 after buying an additional 12 shares in the last quarter. World Asset Management Inc increased its stake in shares of Blackbaud by 0.8% in the second quarter. World Asset Management Inc now owns 3,043 shares of the technology company’s stock valued at $261,000 after buying an additional 24 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in shares of Blackbaud by 2.6% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,537 shares of the technology company’s stock valued at $132,000 after buying an additional 39 shares in the last quarter. Janney Montgomery Scott LLC increased its stake in shares of Blackbaud by 1.3% in the second quarter. Janney Montgomery Scott LLC now owns 4,234 shares of the technology company’s stock valued at $363,000 after buying an additional 54 shares in the last quarter. Finally, 1st Global Advisors Inc. increased its stake in shares of Blackbaud by 0.6% in the second quarter. 1st Global Advisors Inc. now owns 9,588 shares of the technology company’s stock valued at $822,000 after buying an additional 57 shares in the last quarter.
Shares of Blackbaud (NASDAQ:BLKB) opened at 83.95 on Friday. Blackbaud has a 52 week low of $55.88 and a 52 week high of $93.81. The stock has a 50 day moving average of $87.61 and a 200-day moving average of $81.28. The company has a market capitalization of $3.92 billion, a price-to-earnings ratio of 80.80 and a beta of 0.77.
Blackbaud (NASDAQ:BLKB) last released its quarterly earnings results on Monday, July 31st. The technology company reported $0.39 EPS for the quarter, missing the Thomson Reuters’ consensus estimate 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 for the quarter, compared to analysts’ expectations of $193.66 million. During the same quarter last year, the company earned $0.46 EPS. Blackbaud’s revenue for the quarter was up 6.4% compared to the same quarter last year. On average, analysts anticipate that Blackbaud will post $2.14 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Monday, August 28th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 0.57%. The ex-dividend date of this dividend is Thursday, August 24th. Blackbaud’s dividend payout ratio (DPR) 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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