B. Riley Analysts Give Blackbaud, Inc. (BLKB) a $82.00 Price Target
BLKB has been the topic of a number of other research reports. Zacks Investment Research downgraded Blackbaud from a hold rating to a strong sell rating in a research report on Monday, August 7th. Citigroup Inc. assumed coverage on Blackbaud in a research report on Friday, September 22nd. They set a buy rating and a $100.00 price target on the stock. Stifel Nicolaus restated a buy rating and set a $96.00 price target on shares of Blackbaud in a research report on Friday, July 21st. Finally, Robert W. Baird set a $85.00 price target on Blackbaud and gave the company a hold rating in a research report on Sunday, October 1st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company. The stock currently has an average rating of Hold and a consensus target price of $88.50.
Shares of Blackbaud (BLKB) opened at 102.39 on Thursday. The company has a market cap of $4.78 billion, a price-to-earnings ratio of 98.55 and a beta of 0.84. The company’s 50-day moving average price is $88.42 and its 200-day moving average price is $85.52. Blackbaud has a 12 month low of $55.88 and a 12 month high of $102.93.
Blackbaud (NASDAQ:BLKB) last released its quarterly earnings results on Wednesday, October 25th. The technology company reported $0.56 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.51 by $0.05. Blackbaud had a return on equity of 31.25% and a net margin of 6.82%. The business had revenue of $195.51 million for the quarter, compared to the consensus estimate of $196.35 million. During the same quarter last year, the business posted $0.45 earnings per share. The company’s revenue for the quarter was up 6.8% on a year-over-year basis. Analysts anticipate that Blackbaud will post $2.15 EPS for the current year.
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The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Tuesday, November 28th will be issued a $0.12 dividend. The ex-dividend date of this dividend is Monday, November 27th. This represents a $0.48 annualized dividend and a dividend yield of 0.47%. Blackbaud’s dividend payout ratio is currently 44.04%.
In related news, insider Michael P. Gianoni sold 4,000 shares of the firm’s stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $87.77, for a total value of $351,080.00. Following the sale, the insider now directly owns 258,921 shares of the company’s stock, valued at $22,725,496.17. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Jon W. Olson sold 5,282 shares of the firm’s stock in a transaction dated Thursday, August 31st. The stock was sold at an average price of $84.24, for a total value of $444,955.68. Following the completion of the sale, the senior vice president now directly owns 50,756 shares in the company, valued at $4,275,685.44. The disclosure for this sale can be found here. In the last quarter, insiders sold 20,752 shares of company stock worth $1,771,517. Company insiders own 2.19% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. ETF Managers Group LLC bought a new stake in shares of Blackbaud in the second quarter worth about $125,000. Northwestern Mutual Wealth Management Co. grew 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 worth $132,000 after purchasing an additional 39 shares during the last quarter. QS Investors LLC grew its stake in shares of Blackbaud by 157.1% in the second quarter. QS Investors LLC now owns 1,800 shares of the technology company’s stock worth $154,000 after purchasing an additional 1,100 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Blackbaud by 9.4% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,896 shares of the technology company’s stock worth $163,000 after purchasing an additional 163 shares during the last quarter. Finally, Investment Centers of America Inc. bought a new stake in shares of Blackbaud in the second quarter worth about $203,000.
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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