Robert W. Baird Lowers Blackbaud (NASDAQ:BLKB) Price Target to $76.00

Blackbaud (NASDAQ:BLKB) had its price objective decreased by Robert W. Baird from $80.00 to $76.00 in a research report released on Wednesday,Benzinga reports. Robert W. Baird currently has a neutral rating on the technology company’s stock.

Separately, Baird R W lowered Blackbaud from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 31st. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $85.33.

Blackbaud Stock Down 3.4 %

BLKB opened at $68.52 on Wednesday. Blackbaud has a twelve month low of $66.47 and a twelve month high of $88.95. The company’s 50-day moving average price is $76.63 and its two-hundred day moving average price is $80.29. The stock has a market cap of $3.37 billion, a price-to-earnings ratio of 67.18 and a beta of 1.08. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 1.79.

Blackbaud (NASDAQ:BLKB) last posted its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.58 EPS for the quarter, missing the consensus estimate of $1.08 by ($0.50). Blackbaud had a net margin of 4.61% and a return on equity of 20.34%. The firm had revenue of $302.23 million during the quarter, compared to analysts’ expectations of $303.41 million. As a group, equities analysts expect that Blackbaud will post 2.6 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Michael P. Gianoni sold 9,479 shares of the company’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $88.13, for a total transaction of $835,384.27. Following the sale, the chief executive officer now directly owns 344,079 shares in the company, valued at $30,323,682.27. This represents a 2.68 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Company insiders own 1.95% of the company’s stock.

Hedge Funds Weigh In On Blackbaud

Hedge funds have recently bought and sold shares of the company. Teachers Retirement System of The State of Kentucky lifted its stake in Blackbaud by 52.0% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 56,336 shares of the technology company’s stock worth $4,770,000 after purchasing an additional 19,270 shares in the last quarter. Entropy Technologies LP bought a new position in shares of Blackbaud in the fourth quarter worth $377,000. JPMorgan Chase & Co. raised its position in shares of Blackbaud by 3.2% in the third quarter. JPMorgan Chase & Co. now owns 225,634 shares of the technology company’s stock worth $19,107,000 after buying an additional 7,097 shares in the last quarter. Tributary Capital Management LLC boosted its stake in Blackbaud by 1.3% during the fourth quarter. Tributary Capital Management LLC now owns 293,148 shares of the technology company’s stock valued at $21,670,000 after buying an additional 3,739 shares during the period. Finally, Simcoe Capital Management LLC purchased a new position in Blackbaud during the third quarter worth about $5,987,000. Hedge funds and other 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.