Blackbaud (BLKB) Downgraded by Stephens

Stephens lowered shares of Blackbaud (NASDAQ:BLKB) from an overweight rating to an equal weight rating in a research report released on Wednesday, April 3rd, Benzinga reports. They currently have $86.00 target price on the technology company’s stock.

BLKB has been the subject of a number of other research reports. BidaskClub raised shares of Blackbaud from a hold rating to a buy rating in a research report on Friday, March 29th. DA Davidson upped their target price on shares of Blackbaud to $75.00 and gave the stock a neutral rating in a report on Friday, March 29th. Finally, Zacks Investment Research raised shares of Blackbaud from a hold rating to a buy rating and set a $70.00 target price for the company in a report on Wednesday, January 2nd. Two research analysts have rated the stock with a sell rating and thirteen have assigned a hold rating to the stock. The company currently has a consensus rating of Hold and an average target price of $88.63.

Shares of BLKB stock traded down $0.41 during mid-day trading on Wednesday, reaching $78.82. 288,330 shares of the company’s stock traded hands, compared to its average volume of 301,190. Blackbaud has a 12 month low of $58.23 and a 12 month high of $120.35. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.74 and a quick ratio of 0.74. The company has a market cap of $3.83 billion, a price-to-earnings ratio of 42.15, a PEG ratio of 7.61 and a beta of 1.31.

Blackbaud (NASDAQ:BLKB) last issued its quarterly earnings data on Wednesday, February 6th. The technology company reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.10. Blackbaud had a net margin of 5.28% and a return on equity of 24.41%. The firm had revenue of $221.79 million during the quarter, compared to the consensus estimate of $220.40 million. During the same quarter in the previous year, the firm posted $0.61 EPS. The company’s revenue for the quarter was up 1.2% compared to the same quarter last year. Equities research analysts expect that Blackbaud will post 1.27 EPS for the current year.

In other Blackbaud news, insider Michael P. Gianoni sold 30,000 shares of the stock in a transaction dated Tuesday, February 19th. The shares were sold at an average price of $76.35, for a total transaction of $2,290,500.00. Following the completion of the transaction, the insider now owns 276,614 shares of the company’s stock, valued at approximately $21,119,478.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Anthony W. Boor sold 13,585 shares of the stock in a transaction dated Friday, February 15th. The shares were sold at an average price of $77.34, for a total transaction of $1,050,663.90. Following the transaction, the chief financial officer now directly owns 120,863 shares of the company’s stock, valued at approximately $9,347,544.42. The disclosure for this sale can be found here. Insiders sold a total of 86,432 shares of company stock valued at $6,661,485 in the last ninety days. 1.55% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Hodges Capital Management Inc. bought a new position in shares of Blackbaud during the 1st quarter valued at about $3,272,000. Pacer Advisors Inc. boosted its holdings in shares of Blackbaud by 12.3% during the 3rd quarter. Pacer Advisors Inc. now owns 17,243 shares of the technology company’s stock valued at $1,750,000 after purchasing an additional 1,894 shares during the last quarter. FMR LLC bought a new position in shares of Blackbaud during the 3rd quarter valued at about $129,000. Tower Research Capital LLC TRC boosted its holdings in shares of Blackbaud by 1,188.5% during the 3rd quarter. Tower Research Capital LLC TRC now owns 4,574 shares of the technology company’s stock valued at $464,000 after purchasing an additional 4,219 shares during the last quarter. Finally, First Hawaiian Bank raised its position in shares of Blackbaud by 75.5% during the 4th quarter. First Hawaiian Bank now owns 437 shares of the technology company’s stock valued at $27,000 after buying an additional 188 shares in the last quarter.

Blackbaud Company Profile

Blackbaud, Inc provides cloud software solutions to nonprofits, foundations, companies, education institutions, healthcare organizations, individual change agents, and other charitable giving entities. The company offers fundraising and relationship management solutions and services, including Blackbaud Raiser's Edge NXT, Blackbaud CRM, Blackbaud Luminate CRM, Blackbaud eTapestry, Blackbaud TeamRaiser, everydayhero, Blackbaud Peer-to-Peer Fundraising, and Blackbaud Guided Fundraising; and marketing and engagement solutions, such as Blackbaud Luminate Online, Blackbaud Online Express, Blackbaud NetCommunity, Blackbaud Attentive.ly, and Blackbaud School Website System.

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Analyst Recommendations for Blackbaud (NASDAQ:BLKB)

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