Blackbaud (NASDAQ:BLKB) Upgraded to “Strong-Buy” at Zacks Research

Zacks Research upgraded shares of Blackbaud (NASDAQ:BLKB) from a hold rating to a strong-buy rating in a research report released on Monday,Zacks.com reports.

Other equities analysts also recently issued reports about the company. Wall Street Zen downgraded Blackbaud from a “buy” rating to a “hold” rating in a report on Saturday. Weiss Ratings restated a “sell (d)” rating on shares of Blackbaud in a report on Wednesday, October 8th. Finally, Stifel Nicolaus set a $70.00 price target on Blackbaud in a report on Wednesday, October 29th. One analyst has rated the stock with a Strong Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Blackbaud has a consensus rating of “Hold” and a consensus target price of $73.00.

Blackbaud Stock Down 2.8%

Shares of NASDAQ:BLKB opened at $62.06 on Monday. Blackbaud has a fifty-two week low of $58.05 and a fifty-two week high of $88.95. The company has a quick ratio of 0.84, a current ratio of 0.69 and a debt-to-equity ratio of 9.63. The firm’s 50-day simple moving average is $65.39 and its 200-day simple moving average is $64.21. The company has a market cap of $3.01 billion, a price-to-earnings ratio of -11.93, a PEG ratio of 4.75 and a beta of 1.08.

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

Insider Buying and Selling at Blackbaud

In related news, Director Rupal S. Hollenbeck sold 2,500 shares of Blackbaud stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $63.98, for a total value of $159,950.00. Following the transaction, the director owned 7,966 shares of the company’s stock, valued at approximately $509,664.68. This trade represents a 23.89% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.97% of the stock is owned by company insiders.

Institutional Investors Weigh In On Blackbaud

A number of institutional investors have recently modified their holdings of the stock. Envestnet Asset Management Inc. grew its stake in Blackbaud by 2.6% in the third quarter. Envestnet Asset Management Inc. now owns 151,177 shares of the technology company’s stock valued at $9,722,000 after purchasing an additional 3,818 shares in the last quarter. Jackson Creek Investment Advisors LLC bought a new stake in shares of Blackbaud in the 3rd quarter valued at approximately $1,287,000. AGF Management Ltd. lifted its stake in Blackbaud by 3.0% in the third quarter. AGF Management Ltd. now owns 50,057 shares of the technology company’s stock valued at $3,219,000 after acquiring an additional 1,453 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in shares of Blackbaud in the 3rd quarter valued at $61,000. Finally, TradeLink Capital LLC bought a new stake in Blackbaud in the third quarter worth $700,000. Institutional investors and hedge funds own 94.21% of the company’s stock.

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.