Blackbaud (NASDAQ:BLKB) Downgraded by Wall Street Zen to “Hold”

Wall Street Zen lowered shares of Blackbaud (NASDAQ:BLKB) from a buy rating to a hold rating in a research report report published on Saturday.

A number of other analysts have also recently issued reports on BLKB. Stifel Nicolaus set a $70.00 price objective on Blackbaud in a research report on Wednesday. Weiss Ratings restated a “sell (d)” rating on shares of Blackbaud in a research report on Wednesday, October 8th. Two analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Reduce” and an average target price of $73.00.

Blackbaud Price Performance

Shares of NASDAQ:BLKB opened at $64.04 on Friday. The firm has a market capitalization of $3.11 billion, a PE ratio of -12.32, a PEG ratio of 4.75 and a beta of 1.11. The company has a current ratio of 0.69, a quick ratio of 0.84 and a debt-to-equity ratio of 9.63. Blackbaud has a 1-year low of $58.05 and a 1-year high of $88.95. The business’s 50 day moving average is $65.48 and its 200-day moving average is $64.18.

Blackbaud (NASDAQ:BLKB) last released its quarterly earnings data on Monday, March 4th. The technology company reported $0.68 earnings per share (EPS) for the quarter. The business had revenue of $274.76 million for the quarter. Blackbaud had a positive return on equity of 137.13% and a negative net margin of 22.57%. Sell-side analysts predict that Blackbaud will post 3.05 earnings per share for the current year.

Insider Activity

In other news, Director Rupal S. Hollenbeck sold 2,500 shares of the stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $63.98, for a total value of $159,950.00. Following the completion of the transaction, the director directly owned 7,966 shares of the company’s stock, valued at approximately $509,664.68. This represents a 23.89% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 1.97% of the company’s stock.

Hedge Funds Weigh In On Blackbaud

A number of hedge funds have recently modified their holdings of the stock. Avantax Advisory Services Inc. raised its holdings in shares of Blackbaud by 1.8% in the 1st quarter. Avantax Advisory Services Inc. now owns 11,816 shares of the technology company’s stock worth $733,000 after buying an additional 210 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Blackbaud by 11.2% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,300 shares of the technology company’s stock valued at $143,000 after purchasing an additional 231 shares in the last quarter. GAMMA Investing LLC increased its holdings in Blackbaud by 46.6% during the 3rd quarter. GAMMA Investing LLC now owns 777 shares of the technology company’s stock valued at $50,000 after purchasing an additional 247 shares in the last quarter. Aristides Capital LLC increased its holdings in Blackbaud by 7.8% during the 1st quarter. Aristides Capital LLC now owns 4,142 shares of the technology company’s stock valued at $257,000 after purchasing an additional 298 shares in the last quarter. Finally, CWM LLC increased its holdings in Blackbaud by 215.9% during the 2nd quarter. CWM LLC now owns 458 shares of the technology company’s stock valued at $29,000 after purchasing an additional 313 shares in the last quarter. 94.21% of the stock is owned by institutional investors and hedge funds.

About Blackbaud

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.