Blackbaud, Inc. (NASDAQ:BLKB) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Tuesday.
According to Zacks, “Blackbaud is the leading global provider of software and related services designed specifically for nonprofit organizations. Blackbaud’s solutions include The Raiser’s Edge, The Financial Edge, The Education Edge, The Information Edge, WealthPoint and ProspectPoint, as well as a wide range of consulting and educational services. Blackbaud has operations in Toronto, Ontario, Glasgow, Scotland, and Sydney, Australia. “
A number of other equities research analysts have also issued reports on BLKB. B. Riley reiterated a “buy” rating and set a $75.00 target price on shares of Blackbaud in a report on Thursday, November 3rd. Bank of America Corporation lowered shares of Blackbaud from a “neutral” rating to an “underperform” rating and set a $65.00 target price on the stock. in a report on Wednesday, November 23rd. Wunderlich lowered shares of Blackbaud from a “buy” rating to a “hold” rating and set a $78.00 target price on the stock. in a report on Friday. Finally, Stifel Nicolaus increased their target price on shares of Blackbaud from $73.00 to $79.00 and gave the stock a “buy” rating in a report on Friday. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $70.89.
Blackbaud (NASDAQ:BLKB) traded up 0.70% on Tuesday, reaching $72.16. The company’s stock had a trading volume of 333,565 shares. The firm has a 50-day moving average of $66.47 and a 200-day moving average of $65.54. The company has a market capitalization of $3.34 billion, a PE ratio of 82.00 and a beta of 0.93. Blackbaud has a one year low of $51.49 and a one year high of $72.26.
Blackbaud (NASDAQ:BLKB) last posted its quarterly earnings data on Wednesday, February 8th. The company reported $0.59 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.55 by $0.04. The firm earned $198.30 million during the quarter, compared to analysts’ expectations of $195.48 million. Blackbaud had a net margin of 5.34% and a return on equity of 30.77%. The firm’s quarterly revenue was up 12.8% on a year-over-year basis. During the same quarter last year, the company posted $0.38 EPS. Analysts predict that Blackbaud will post $2.13 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 15th. Investors of record on Tuesday, February 28th will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, February 24th. This represents a $0.48 annualized dividend and a yield of 0.67%. Blackbaud’s dividend payout ratio is currently 57.83%.
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In related news, insider Michael P. Gianoni sold 3,973 shares of Blackbaud stock in a transaction on Monday, November 28th. The shares were sold at an average price of $63.00, for a total transaction of $250,299.00. Following the sale, the insider now directly owns 250,456 shares in the company, valued at approximately $15,778,728. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Charles T. Cumbaa sold 9,340 shares of Blackbaud stock in a transaction on Wednesday, January 4th. The stock was sold at an average price of $66.50, for a total transaction of $621,110.00. Following the sale, the executive vice president now owns 80,501 shares in the company, valued at $5,353,316.50. The disclosure for this sale can be found here. Insiders have sold a total of 23,013 shares of company stock worth $1,502,394 over the last quarter. 2.74% of the stock is owned by company insiders.
A number of large investors have recently made changes to their positions in BLKB. Pacad Investment Ltd. bought a new stake in shares of Blackbaud during the fourth quarter valued at approximately $173,000. World Asset Management Inc acquired a new position in shares of Blackbaud during the third quarter valued at about $210,000. Flinton Capital Management LLC acquired a new position in shares of Blackbaud during the fourth quarter valued at about $210,000. Pacer Advisors Inc. acquired a new position in shares of Blackbaud during the third quarter valued at about $223,000. Finally, Campbell Newman Asset Management Inc. acquired a new position in shares of Blackbaud during the third quarter valued at about $231,000.
Blackbaud Company Profile
Blackbaud, Inc is a provider of software and services for the global philanthropic community. The Company’s segments include the General Markets Business Unit (the GMBU), the Enterprise Customer Business Unit (the ECBU) and the International Business Unit (the IBU). The GMBU is focused on marketing, sales, delivery and support to all emerging and mid-sized prospects and customers in North America.
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