Blackbaud, Inc. (NASDAQ:BLKB) Receives $86.67 Average Price Target from Brokerages

Blackbaud, Inc. (NASDAQ:BLKB) has been given a consensus rating of “Hold” by the five ratings firms that are currently covering the company, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $85.33.

A number of research firms have commented on BLKB. Baird R W cut shares of Blackbaud from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 31st. Robert W. Baird reduced their price target on shares of Blackbaud from $80.00 to $76.00 and set a “neutral” rating for the company in a report on Wednesday.

Insider Buying and Selling at Blackbaud

In other Blackbaud news, CEO Michael P. Gianoni sold 9,479 shares of the firm’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $88.13, for a total value of $835,384.27. Following the transaction, the chief executive officer now directly owns 344,079 shares of the company’s stock, valued at approximately $30,323,682.27. This trade represents a 2.68 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.95% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Vestcor Inc bought a new position in shares of Blackbaud during the fourth quarter valued at about $75,000. TD Private Client Wealth LLC lifted its position in shares of Blackbaud by 42.0% during the third quarter. TD Private Client Wealth LLC now owns 1,174 shares of the technology company’s stock valued at $99,000 after purchasing an additional 347 shares in the last quarter. KBC Group NV lifted its position in shares of Blackbaud by 33.9% during the fourth quarter. KBC Group NV now owns 1,676 shares of the technology company’s stock valued at $124,000 after purchasing an additional 424 shares in the last quarter. Blue Trust Inc. lifted its position in shares of Blackbaud by 190.4% during the third quarter. Blue Trust Inc. now owns 1,597 shares of the technology company’s stock valued at $135,000 after purchasing an additional 1,047 shares in the last quarter. Finally, Huntington National Bank lifted its position in shares of Blackbaud by 13.9% during the fourth quarter. Huntington National Bank now owns 1,864 shares of the technology company’s stock valued at $138,000 after purchasing an additional 227 shares in the last quarter. 94.21% of the stock is owned by institutional investors.

Blackbaud Trading Up 3.1 %

BLKB opened at $68.24 on Wednesday. Blackbaud has a twelve month low of $66.07 and a twelve month high of $88.95. The company has a quick ratio of 0.68, a current ratio of 0.78 and a debt-to-equity ratio of 7.40. The company has a fifty day moving average of $76.14 and a 200-day moving average of $80.15. The stock has a market cap of $3.36 billion, a PE ratio of -11.57 and a beta of 1.08.

Blackbaud (NASDAQ:BLKB) last posted its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.58 earnings per share for the quarter, missing the consensus estimate of $1.08 by ($0.50). Blackbaud had a positive return on equity of 26.30% and a negative net margin of 24.83%. The firm had revenue of $302.23 million for the quarter, compared to analyst estimates of $303.41 million. On average, sell-side analysts predict that Blackbaud will post 3.05 EPS for the current year.

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.