Equities analysts predict that Blackbaud, Inc. (NASDAQ:BLKB) will post sales of $223.95 million for the current quarter, Zacks Investment Research reports. Four analysts have made estimates for Blackbaud’s earnings, with the highest sales estimate coming in at $225.79 million and the lowest estimate coming in at $222.00 million. Blackbaud reported sales of $213.67 million during the same quarter last year, which indicates a positive year-over-year growth rate of 4.8%. The company is expected to report its next earnings results after the market closes on Tuesday, July 30th.
According to Zacks, analysts expect that Blackbaud will report full-year sales of $892.52 million for the current year, with estimates ranging from $884.00 million to $897.73 million. For the next fiscal year, analysts forecast that the company will post sales of $938.37 million, with estimates ranging from $918.00 million to $950.99 million. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow Blackbaud.
Blackbaud (NASDAQ:BLKB) last announced its quarterly earnings data on Tuesday, April 30th. The technology company reported $0.28 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.28. The company had revenue of $215.83 million for the quarter, compared to the consensus estimate of $212.32 million. Blackbaud had a return on equity of 21.47% and a net margin of 3.02%. Blackbaud’s quarterly revenue was up 5.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.66 EPS.
In related news, EVP Kevin W. Mooney sold 8,858 shares of the company’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $80.00, for a total transaction of $708,640.00. Following the completion of the sale, the executive vice president now directly owns 92,901 shares in the company, valued at approximately $7,432,080. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Timothy C. K. Chou sold 400 shares of the company’s stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $76.98, for a total value of $30,792.00. Following the sale, the director now owns 20,114 shares of the company’s stock, valued at $1,548,375.72. The disclosure for this sale can be found here. 1.56% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently modified their holdings of BLKB. First Hawaiian Bank lifted its stake in shares of Blackbaud by 54.5% during the 1st quarter. First Hawaiian Bank now owns 675 shares of the technology company’s stock worth $54,000 after purchasing an additional 238 shares during the last quarter. Smithfield Trust Co. lifted its stake in shares of Blackbaud by 2,407.5% during the 1st quarter. Smithfield Trust Co. now owns 1,003 shares of the technology company’s stock worth $80,000 after purchasing an additional 963 shares during the last quarter. Quantamental Technologies LLC purchased a new stake in Blackbaud in the first quarter valued at about $200,000. Evergreen Capital Management LLC purchased a new stake in Blackbaud in the first quarter valued at about $217,000. Finally, Piedmont Investment Advisors Inc. purchased a new stake in Blackbaud in the first quarter valued at about $220,000.
Blackbaud stock traded up $1.11 during mid-day trading on Friday, hitting $85.49. The company’s stock had a trading volume of 168,423 shares, compared to its average volume of 283,493. The company has a 50 day simple moving average of $79.85. The company has a market capitalization of $4.13 billion, a PE ratio of 45.72, a PEG ratio of 7.85 and a beta of 1.20. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 1.58. Blackbaud has a one year low of $58.23 and a one year high of $120.35.
The company also recently declared a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Tuesday, May 28th were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.56%. The ex-dividend date of this dividend was Friday, May 24th. Blackbaud’s payout ratio is 25.67%.
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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