Analysts Set Blackbaud, Inc. (NASDAQ:BLKB) PT at $86.67

Blackbaud, Inc. (NASDAQ:BLKB) has been assigned a consensus rating of “Hold” from the five ratings firms that are currently covering the firm, MarketBeat.com reports. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $86.67.

Several research firms have issued reports on BLKB. Baird R W lowered shares of Blackbaud from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 31st. Raymond James dropped their target price on Blackbaud from $98.00 to $95.00 and set an “outperform” rating on the stock in a research note on Monday, October 7th. Robert W. Baird cut Blackbaud from an “outperform” rating to a “neutral” rating and decreased their price target for the company from $92.00 to $80.00 in a research note on Thursday, October 31st. Finally, Stifel Nicolaus boosted their price target on Blackbaud from $80.00 to $85.00 and gave the stock a “hold” rating in a research note on Thursday, September 26th.

Insider Buying and Selling at Blackbaud

In related news, Director Sarah E. Nash sold 3,100 shares of the firm’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $83.98, for a total transaction of $260,338.00. Following the completion of the transaction, the director now owns 23,723 shares of the company’s stock, valued at $1,992,257.54. This trade represents a 11.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Michael P. Gianoni sold 12,325 shares of the stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $83.25, for a total value of $1,026,056.25. Following the sale, the chief executive officer now directly owns 389,539 shares in the company, valued at $32,429,121.75. This represents a 3.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 43,923 shares of company stock worth $3,737,450. 1.95% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Blackbaud

Several hedge funds have recently bought and sold shares of the stock. State of New Jersey Common Pension Fund D increased its stake in Blackbaud by 0.6% during the 3rd 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 buying an additional 151 shares in the last quarter. Heritage Family Offices LLP boosted its stake in shares of Blackbaud by 5.9% in the fourth quarter. Heritage Family Offices LLP now owns 2,985 shares of the technology company’s stock worth $221,000 after acquiring an additional 166 shares during the last quarter. Brookstone Capital Management increased its position in shares of Blackbaud by 3.7% during the fourth quarter. Brookstone Capital Management now owns 7,612 shares of the technology company’s stock worth $563,000 after purchasing an additional 275 shares in the last quarter. Inspire Investing LLC raised its stake in Blackbaud by 6.4% in the 3rd quarter. Inspire Investing LLC now owns 4,879 shares of the technology company’s stock valued at $413,000 after purchasing an additional 292 shares during the last quarter. Finally, TD Private Client Wealth LLC lifted its holdings in Blackbaud by 42.0% in the 3rd 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. Hedge funds and other institutional investors own 94.21% of the company’s stock.

Blackbaud Trading Up 0.4 %

Shares of NASDAQ BLKB opened at $78.36 on Wednesday. Blackbaud has a 1-year low of $66.47 and a 1-year high of $88.95. The business has a fifty day moving average price of $79.08 and a 200 day moving average price of $80.36. The stock has a market capitalization of $3.86 billion, a P/E ratio of 76.82 and a beta of 1.08. The company has a debt-to-equity ratio of 1.79, a current ratio of 0.68 and a quick ratio of 0.68.

Blackbaud (NASDAQ:BLKB) last released its quarterly earnings results on Wednesday, October 30th. The technology company reported $0.99 EPS for the quarter, missing the consensus estimate of $1.07 by ($0.08). Blackbaud had a net margin of 4.61% and a return on equity of 20.34%. The firm had revenue of $286.70 million for the quarter, compared to analysts’ expectations of $293.74 million. During the same period in the previous year, the company posted $0.65 earnings per share. The business’s quarterly revenue was up 3.3% compared to the same quarter last year. Equities research analysts expect that Blackbaud will post 2.6 EPS for the current fiscal 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.