Blackbaud (NASDAQ:BLKB) Lowered to “Hold” at StockNews.com

StockNews.com cut shares of Blackbaud (NASDAQ:BLKB) from a buy rating to a hold rating in a report published on Friday.

Separately, Robert W. Baird cut their price target on Blackbaud from $95.00 to $88.00 and set an outperform rating on the stock in a research note on Wednesday, February 14th.

Blackbaud Price Performance

Shares of NASDAQ BLKB opened at $78.63 on Friday. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.78 and a quick ratio of 0.78. Blackbaud has a 1-year low of $64.32 and a 1-year high of $88.56. The company has a market capitalization of $4.20 billion, a price-to-earnings ratio of 2,621.00 and a beta of 1.04. The business has a 50-day moving average of $72.39 and a 200-day moving average of $76.23.

Blackbaud (NASDAQ:BLKB) last released its quarterly earnings results on Tuesday, February 13th. The technology company reported $1.14 earnings per share for the quarter, beating analysts’ consensus estimates of $1.05 by $0.09. Blackbaud had a net margin of 0.16% and a return on equity of 14.59%. The business had revenue of $295.01 million during the quarter, compared to analyst estimates of $299.04 million. During the same period last year, the business earned $0.28 EPS. The business’s revenue was up 7.4% on a year-over-year basis. On average, equities analysts anticipate that Blackbaud will post 2.35 EPS for the current fiscal year.

Insider Activity at Blackbaud

In other news, CEO Michael P. Gianoni sold 5,360 shares of the stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $74.05, for a total transaction of $396,908.00. Following the transaction, the chief executive officer now owns 413,114 shares of the company’s stock, valued at $30,591,091.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Michael P. Gianoni sold 25,354 shares of Blackbaud stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $68.77, for a total value of $1,743,594.58. Following the completion of the transaction, the chief executive officer now directly owns 357,104 shares of the company’s stock, valued at approximately $24,558,042.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Michael P. Gianoni sold 5,360 shares of the stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $74.05, for a total transaction of $396,908.00. Following the sale, the chief executive officer now owns 413,114 shares in the company, valued at approximately $30,591,091.70. The disclosure for this sale can be found here. Insiders have sold 59,897 shares of company stock valued at $4,377,015 over the last ninety days. Corporate insiders own 1.89% of the company’s stock.

Hedge Funds Weigh In On Blackbaud

Institutional investors have recently made changes to their positions in the stock. Retirement Systems of Alabama raised its holdings in Blackbaud by 0.3% during the fourth quarter. Retirement Systems of Alabama now owns 53,958 shares of the technology company’s stock worth $4,678,000 after purchasing an additional 163 shares in the last quarter. Franklin Resources Inc. raised its stake in shares of Blackbaud by 1.4% in the 4th quarter. Franklin Resources Inc. now owns 12,840 shares of the technology company’s stock worth $1,113,000 after buying an additional 183 shares in the last quarter. Comerica Bank lifted its holdings in shares of Blackbaud by 0.9% in the fourth quarter. Comerica Bank now owns 20,671 shares of the technology company’s stock valued at $1,792,000 after buying an additional 186 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Blackbaud by 3.1% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,192 shares of the technology company’s stock valued at $797,000 after buying an additional 277 shares in the last quarter. Finally, Arizona State Retirement System grew its holdings in Blackbaud by 2.6% during the third quarter. Arizona State Retirement System now owns 12,269 shares of the technology company’s stock worth $863,000 after acquiring an additional 311 shares during the period. 94.21% of the stock is owned by institutional investors.

Blackbaud Company Profile

Blackbaud, Inc provides cloud software solutions to nonprofits, foundations, education institutions, and healthcare organizations in the United States and internationally. The company offers fundraising and engagement solutions, such as Blackbaud Raiser's Edge NXT, Blackbaud CRM, Blackbaud eTapestry, Blackbaud Luminate Online, Blackbaud TeamRaiser, JustGiving, Blackbaud Fundraiser Performance Management, Blackbaud Guided Fundraising, and Blackbaud Altru; and financial management solutions comprising Blackbaud Financial Edge NXT, Blackbaud Tuition Management, and Blackbaud Financial Aid and Billing Management.