Blackbaud (BLKB) Trading Down 3.6%
Blackbaud, Inc. (NASDAQ:BLKB)’s share price was down 3.6% during trading on Friday . The stock traded as low as $93.94 and last traded at $90.81. Approximately 159,886 shares were traded during mid-day trading, a decline of 44% from the average daily volume of 286,931 shares. The stock had previously closed at $94.21.
Several equities analysts have commented on BLKB shares. BidaskClub downgraded Blackbaud from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, December 12th. Robert W. Baird increased their price target on Blackbaud from $85.00 to $95.00 and gave the company a “neutral” rating in a research note on Monday, October 23rd. Zacks Investment Research raised Blackbaud from a “hold” rating to a “buy” rating and set a $115.00 price target for the company in a research note on Monday, October 30th. Citigroup set a $112.00 price target on Blackbaud and gave the company a “buy” rating in a research note on Friday, October 27th. Finally, Dougherty & Co initiated coverage on Blackbaud in a research note on Tuesday, October 31st. They issued a “neutral” rating for the company. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the stock. Blackbaud has a consensus rating of “Hold” and a consensus target price of $95.33.
The company has a market cap of $4,777.22, a P/E ratio of 68.77, a P/E/G ratio of 5.66 and a beta of 0.75. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.81 and a quick ratio of 0.63.
In related news, EVP Brian Boruff sold 800 shares of the firm’s stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $103.95, for a total transaction of $83,160.00. Following the completion of the sale, the executive vice president now owns 50,862 shares of the company’s stock, valued at $5,287,104.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Kevin W. Mooney sold 4,466 shares of the firm’s stock in a transaction that occurred on Tuesday, November 14th. The stock was sold at an average price of $101.00, for a total value of $451,066.00. Following the sale, the executive vice president now directly owns 71,655 shares of the company’s stock, valued at approximately $7,237,155. The disclosure for this sale can be found here. Company insiders own 2.19% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Contravisory Investment Management Inc. acquired a new stake in Blackbaud during the fourth quarter worth approximately $157,000. QS Investors LLC grew its stake in Blackbaud by 157.1% during 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 period. Verition Fund Management LLC acquired a new stake in Blackbaud during the second quarter worth approximately $228,000. Shelton Capital Management acquired a new stake in Blackbaud during the third quarter worth approximately $235,000. Finally, M&T Bank Corp bought a new position in Blackbaud in the second quarter worth approximately $233,000.
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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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