Several other research firms have also recently issued reports on BLKB. Stephens cut Blackbaud from an overweight rating to an equal weight rating and set a $86.00 target price on the stock. in a research note on Wednesday, April 3rd. Zacks Investment Research cut Blackbaud from a buy rating to a hold rating in a research note on Friday, May 10th. Finally, DA Davidson boosted their target price on Blackbaud to $75.00 and gave the company a neutral rating in a research note on Friday, March 29th. One investment analyst has rated the stock with a sell rating and thirteen have issued a hold rating to the company. The stock has a consensus rating of Hold and an average price target of $88.14.
BLKB opened at $80.20 on Tuesday. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.69 and a current ratio of 0.69. Blackbaud has a 52-week low of $58.23 and a 52-week high of $120.35. The company has a market cap of $3.89 billion, a PE ratio of 42.89, a price-to-earnings-growth ratio of 7.40 and a beta of 1.21.
Blackbaud (NASDAQ:BLKB) last posted its earnings results on Tuesday, April 30th. The technology company reported $0.28 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.28. Blackbaud had a return on equity of 21.47% and a net margin of 3.02%. The firm had revenue of $215.83 million for the quarter, compared to analysts’ expectations of $212.32 million. During the same period in the previous year, the firm earned $0.66 earnings per share. The business’s revenue was up 5.7% compared to the same quarter last year. As a group, equities analysts anticipate that Blackbaud will post 1.28 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Tuesday, May 28th will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, May 24th. This represents a $0.48 annualized dividend and a dividend yield of 0.60%. Blackbaud’s dividend payout ratio (DPR) is presently 25.67%.
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 value of $708,640.00. Following the sale, the executive vice president now directly owns 92,901 shares of the company’s stock, valued at $7,432,080. The sale was disclosed in a legal filing with the SEC, which is available through 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 completion of the sale, the director now directly owns 20,114 shares in the company, valued at $1,548,375.72. The disclosure for this sale can be found here. 1.55% of the stock is currently owned by insiders.
A number of hedge funds have recently modified their holdings of the stock. BlackRock Inc. grew its stake in Blackbaud by 1.2% in the fourth quarter. BlackRock Inc. now owns 5,632,690 shares of the technology company’s stock worth $354,295,000 after purchasing an additional 67,260 shares during the period. Janus Henderson Group PLC grew its stake in Blackbaud by 21.6% in the first quarter. Janus Henderson Group PLC now owns 4,782,583 shares of the technology company’s stock worth $381,310,000 after purchasing an additional 849,217 shares during the period. Atlanta Capital Management Co. L L C grew its stake in Blackbaud by 8.3% in the fourth quarter. Atlanta Capital Management Co. L L C now owns 4,639,087 shares of the technology company’s stock worth $291,799,000 after purchasing an additional 355,998 shares during the period. Wellington Management Group LLP grew its stake in Blackbaud by 6.5% in the first quarter. Wellington Management Group LLP now owns 4,594,630 shares of the technology company’s stock worth $366,330,000 after purchasing an additional 278,844 shares during the period. Finally, Vanguard Group Inc grew its stake in Blackbaud by 2.3% in the third quarter. Vanguard Group Inc now owns 4,493,319 shares of the technology company’s stock worth $455,982,000 after purchasing an additional 99,637 shares during the period.
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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