Blackbaud (NASDAQ:BLKB) Raised to Buy at StockNews.com

StockNews.com upgraded shares of Blackbaud (NASDAQ:BLKB) from a hold rating to a buy rating in a research note released on Saturday morning.

Separately, Robert W. Baird decreased their target price on shares of Blackbaud from $95.00 to $88.00 and set an outperform rating for the company in a research report on Wednesday, February 14th.

Blackbaud Trading Down 1.2 %

NASDAQ BLKB opened at $77.92 on Friday. Blackbaud has a one year low of $64.32 and a one year high of $88.56. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.78 and a quick ratio of 0.78. The business has a 50 day simple moving average of $73.20 and a 200 day simple moving average of $76.54. The stock has a market capitalization of $4.02 billion, a P/E ratio of 2,597.33 and a beta of 1.04.

Blackbaud (NASDAQ:BLKB) last posted its quarterly earnings results on Tuesday, February 13th. The technology company reported $1.14 EPS for the quarter, topping 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 analysts’ expectations of $299.04 million. During the same period last year, the company posted $0.28 earnings per share. The business’s quarterly revenue was up 7.4% on a year-over-year basis. Research analysts expect that Blackbaud will post 2.35 earnings per share for the current year.

Insider Activity

In other Blackbaud news, CFO Anthony W. Boor sold 3,100 shares of the stock in a transaction on Thursday, April 11th. The stock was sold at an average price of $79.48, for a total transaction of $246,388.00. Following the completion of the transaction, the chief financial officer now directly owns 158,268 shares of the company’s stock, valued at $12,579,140.64. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CEO Michael P. Gianoni sold 25,354 shares of the business’s stock in a transaction that occurred on 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 sale, the chief executive officer now owns 357,104 shares of the company’s stock, valued at $24,558,042.08. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Anthony W. Boor sold 3,100 shares of the firm’s stock in a transaction that occurred on Thursday, April 11th. The stock was sold at an average price of $79.48, for a total transaction of $246,388.00. Following the completion of the transaction, the chief financial officer now directly owns 158,268 shares of the company’s stock, valued at $12,579,140.64. The disclosure for this sale can be found here. Insiders sold 59,897 shares of company stock valued at $4,377,015 in the last three months. Company insiders own 1.89% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in BLKB. Operose Advisors LLC bought a new position in shares of Blackbaud in the third quarter worth $25,000. FSC Wealth Advisors LLC bought a new position in Blackbaud in the 3rd quarter worth about $40,000. YHB Investment Advisors Inc. bought a new stake in shares of Blackbaud during the 1st quarter valued at about $54,000. Parallel Advisors LLC grew its holdings in shares of Blackbaud by 303.3% during the fourth quarter. Parallel Advisors LLC now owns 734 shares of the technology company’s stock worth $64,000 after purchasing an additional 552 shares in the last quarter. Finally, GAMMA Investing LLC bought a new position in shares of Blackbaud in the fourth quarter worth approximately $64,000. Institutional investors own 94.21% of the company’s stock.

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.