Blackbaud, Inc. (NASDAQ:BLKB) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.

According to Zacks, “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). The GMBU is focused on marketing, sales, delivery and support to all emerging and mid-sized prospects and customers in North America. The ECBU is focused on marketing, sales, delivery and support to all large and/or strategic prospects and customers in North America. The IBU is focused on marketing, sales, delivery and support to all prospects and customers outside of North America. It operates in four geographic regions: the United States, Canada, Europe and Australia. Its portfolio of software and services supports nonprofit fundraising and relationship management, digital marketing, advocacy, accounting, payments and analytics. “

BLKB has been the topic of several other research reports. Robert W. Baird set a $85.00 price target on shares of Blackbaud and gave the company a “hold” rating in a research report on Sunday. Citigroup Inc. started coverage on shares of Blackbaud in a report on Friday, September 22nd. They set a “buy” rating and a $100.00 target price on the stock. Stifel Nicolaus reaffirmed a “buy” rating and set a $96.00 target price on shares of Blackbaud in a report on Friday, July 21st. Benchmark Co. decreased their target price on shares of Blackbaud from $100.00 to $90.00 and set a “buy” rating on the stock in a report on Tuesday, June 27th. Finally, B. Riley reaffirmed a “neutral” rating and set a $78.00 target price on shares of Blackbaud in a report on Monday, August 28th. One analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $85.25.

Shares of Blackbaud (NASDAQ:BLKB) opened at 88.75 on Tuesday. Blackbaud has a 52-week low of $55.88 and a 52-week high of $93.81. The company’s 50 day moving average is $84.70 and its 200 day moving average is $83.70. The firm has a market cap of $4.14 billion, a price-to-earnings ratio of 85.42 and a beta of 0.84.

Blackbaud (NASDAQ:BLKB) last posted its quarterly earnings results on Monday, July 31st. The technology company reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.12). Blackbaud had a net margin of 6.46% and a return on equity of 30.88%. The business had revenue of $192.50 million during the quarter, compared to the consensus estimate of $193.66 million. During the same period last year, the firm earned $0.46 EPS. The business’s revenue for the quarter was up 6.4% on a year-over-year basis. Analysts anticipate that Blackbaud will post $2.13 earnings per share for the current year.

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In related news, SVP Jon W. Olson sold 5,282 shares of the company’s stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $84.24, for a total transaction of $444,955.68. Following the sale, the senior vice president now owns 50,756 shares of the company’s stock, valued at approximately $4,275,685.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Michael P. Gianoni sold 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $87.77, for a total transaction of $351,080.00. Following the completion of the transaction, the insider now directly owns 258,921 shares of the company’s stock, valued at approximately $22,725,496.17. The disclosure for this sale can be found here. Insiders have sold a total of 20,752 shares of company stock worth $1,771,517 in the last ninety days. 2.19% of the stock is currently owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. grew its stake in Blackbaud by 145,653.8% in the 1st quarter. BlackRock Inc. now owns 5,741,241 shares of the technology company’s stock worth $440,182,000 after buying an additional 5,737,302 shares in the last quarter. Vanguard Group Inc. grew its stake in Blackbaud by 5.1% in the 1st quarter. Vanguard Group Inc. now owns 4,239,186 shares of the technology company’s stock worth $325,020,000 after buying an additional 205,672 shares in the last quarter. Janus Henderson Group PLC grew its stake in Blackbaud by 787.4% in the 2nd quarter. Janus Henderson Group PLC now owns 4,144,524 shares of the technology company’s stock worth $355,393,000 after buying an additional 3,677,492 shares in the last quarter. Champlain Investment Partners LLC grew its stake in Blackbaud by 9.6% in the 1st quarter. Champlain Investment Partners LLC now owns 2,258,955 shares of the technology company’s stock worth $173,194,000 after buying an additional 197,065 shares in the last quarter. Finally, State Street Corp grew its stake in Blackbaud by 37.0% in the 2nd quarter. State Street Corp now owns 1,587,812 shares of the technology company’s stock worth $136,159,000 after buying an additional 428,948 shares in the last quarter.

About Blackbaud

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).

Analyst Recommendations for Blackbaud (NASDAQ:BLKB)

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