Blackbaud, Inc. (NASDAQ:BLKB) Given Average Rating of “Hold” by Brokerages

Shares of Blackbaud, Inc. (NASDAQ:BLKB) have been given an average rating of “Hold” by the five analysts that are presently covering the firm, Marketbeat reports. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $85.33.

Separately, Robert W. Baird cut 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, February 19th.

Hedge Funds Weigh In On Blackbaud

A number of institutional investors have recently modified their holdings of BLKB. State of New Jersey Common Pension Fund D raised its stake in shares of Blackbaud by 0.6% in the third quarter. State of New Jersey Common Pension Fund D now owns 24,152 shares of the technology company’s stock worth $2,045,000 after acquiring an additional 151 shares during the last quarter. Natixis Advisors LLC grew its position in shares of Blackbaud by 8.6% during the 3rd quarter. Natixis Advisors LLC now owns 18,912 shares of the technology company’s stock worth $1,601,000 after buying an additional 1,492 shares during the period. Quest Partners LLC grew its position in shares of Blackbaud by 1,322.2% during the 3rd quarter. Quest Partners LLC now owns 6,073 shares of the technology company’s stock worth $514,000 after buying an additional 5,646 shares during the period. Meeder Asset Management Inc. acquired a new stake in shares of Blackbaud during the 3rd quarter worth approximately $142,000. Finally, Intech Investment Management LLC grew its position in shares of Blackbaud by 48.4% during the 3rd quarter. Intech Investment Management LLC now owns 12,579 shares of the technology company’s stock worth $1,065,000 after buying an additional 4,103 shares during the period. 94.21% of the stock is owned by institutional investors.

Blackbaud Price Performance

Shares of Blackbaud stock opened at $63.45 on Friday. Blackbaud has a twelve month low of $62.99 and a twelve month high of $88.95. The firm has a market cap of $3.12 billion, a P/E ratio of -10.75 and a beta of 1.09. The firm’s 50-day simple moving average is $73.13 and its 200-day simple moving average is $78.85. The company has a debt-to-equity ratio of 7.40, a quick ratio of 0.68 and a current ratio of 0.78.

Blackbaud (NASDAQ:BLKB) last announced its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.08 by ($0.50). Blackbaud had a negative net margin of 24.83% and a positive return on equity of 26.30%. The firm had revenue of $302.23 million for the quarter, compared to the consensus estimate of $303.41 million. As a group, research analysts expect that Blackbaud will post 3.05 EPS for the current fiscal year.

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.