Blackbaud (NASDAQ:BLKB) Downgraded by StockNews.com

StockNews.com lowered shares of Blackbaud (NASDAQ:BLKBFree Report) from a buy rating to a hold rating in a research note issued to investors on Friday morning.

Separately, Robert W. Baird reduced their price objective on Blackbaud from $95.00 to $88.00 and set an outperform rating for the company in a research report on Wednesday, February 14th.

Check Out Our Latest Stock Report on BLKB

Blackbaud Stock Performance

NASDAQ:BLKB opened at $76.48 on Friday. The firm has a 50-day moving average of $72.48 and a two-hundred day moving average of $76.17. Blackbaud has a 1-year low of $64.32 and a 1-year high of $88.56. The stock has a market cap of $4.09 billion, a P/E ratio of 2,549.33, a PEG ratio of 3.32 and a beta of 1.04. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.78 and a quick ratio of 0.78.

Blackbaud (NASDAQ:BLKBGet Free Report) last released its earnings results on Tuesday, February 13th. The technology company reported $1.14 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.09. Blackbaud had a return on equity of 14.59% and a net margin of 0.16%. The company had revenue of $295.01 million for the quarter, compared to the consensus estimate of $299.04 million. During the same quarter last year, the business posted $0.28 EPS. Blackbaud’s quarterly revenue was up 7.4% compared to the same quarter last year. On average, research analysts expect that Blackbaud will post 2.35 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Blackbaud news, CEO Michael P. Gianoni sold 25,354 shares of the business’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $68.77, for a total transaction of $1,743,594.58. Following the completion of the transaction, the chief executive officer now directly owns 357,104 shares of the company’s stock, valued at approximately $24,558,042.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Michael P. Gianoni sold 25,354 shares of the stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $68.77, for a total value of $1,743,594.58. Following the completion of the transaction, the chief executive officer now owns 357,104 shares of the company’s stock, valued at $24,558,042.08. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Anthony W. Boor sold 6,900 shares of Blackbaud stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $79.01, for a total transaction of $545,169.00. Following the sale, the chief financial officer now owns 151,368 shares in the company, valued at $11,959,585.68. The disclosure for this sale can be found here. Insiders have sold a total of 59,897 shares of company stock valued at $4,377,015 in the last quarter. Company insiders own 1.89% of the company’s stock.

Institutional Investors Weigh In On Blackbaud

Several hedge funds and other institutional investors have recently bought and sold shares of BLKB. Operose Advisors LLC purchased a new stake in Blackbaud during the third quarter valued at about $25,000. Russell Investments Group Ltd. acquired a new position in shares of Blackbaud in the 1st quarter valued at about $35,000. FSC Wealth Advisors LLC purchased a new position in Blackbaud during the third quarter valued at approximately $40,000. GAMMA Investing LLC purchased a new stake in Blackbaud in the 4th quarter worth approximately $64,000. Finally, Parallel Advisors LLC grew its holdings in shares of Blackbaud by 303.3% during the 4th quarter. Parallel Advisors LLC now owns 734 shares of the technology company’s stock valued at $64,000 after acquiring an additional 552 shares in the last quarter. 94.21% of the stock is currently owned by institutional investors.

Blackbaud Company Profile

(Get Free Report)

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.

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