Shares of Blackbaud, Inc. (NASDAQ:BLKB - Get Free Report) have received an average recommendation of "Hold" from the five research firms that are presently covering the company, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $86.67.
Several equities research analysts have recently issued reports on BLKB shares. Robert W. Baird cut shares of Blackbaud from an "outperform" rating to a "neutral" rating and decreased their price objective for the stock from $92.00 to $80.00 in a research report on Thursday, October 31st. Stifel Nicolaus upped their price objective on Blackbaud from $80.00 to $85.00 and gave the stock a "hold" rating in a research report on Thursday, September 26th. Baird R W downgraded Blackbaud from a "strong-buy" rating to a "hold" rating in a report on Thursday, October 31st. Evercore ISI upgraded Blackbaud to a "hold" rating in a research note on Thursday, August 1st. Finally, Raymond James dropped their price target on shares of Blackbaud from $98.00 to $95.00 and set an "outperform" rating on the stock in a research note on Monday, October 7th.
Read Our Latest Analysis on BLKB
BLKB stock opened at $87.47 on Tuesday. The business's 50-day moving average is $83.65 and its two-hundred day moving average is $80.19. The company has a debt-to-equity ratio of 1.79, a current ratio of 0.68 and a quick ratio of 0.68. The firm has a market capitalization of $4.44 billion, a P/E ratio of 85.75 and a beta of 1.03. Blackbaud has a 1 year low of $66.47 and a 1 year high of $88.95.
Blackbaud (NASDAQ:BLKB - Get Free Report) last issued its earnings results on Wednesday, October 30th. The technology company reported $0.99 earnings per share for the quarter, missing the consensus estimate of $1.07 by ($0.08). Blackbaud had a net margin of 4.61% and a return on equity of 20.34%. The firm had revenue of $286.70 million during the quarter, compared to analyst estimates of $293.74 million. During the same period last year, the business earned $0.65 EPS. The firm's revenue was up 3.3% compared to the same quarter last year. Analysts anticipate that Blackbaud will post 2.6 earnings per share for the current fiscal year.
Blackbaud declared that its board has approved a stock repurchase program on Tuesday, July 30th that permits the company to buyback $800.00 million in outstanding shares. This buyback authorization permits the technology company to buy up to 18.1% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's leadership believes its stock is undervalued.
In other news, CEO Michael P. Gianoni sold 800 shares of Blackbaud stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $83.15, for a total value of $66,520.00. Following the transaction, the chief executive officer now directly owns 373,293 shares of the company's stock, valued at $31,039,312.95. The trade was a 0.21 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Jon W. Olson sold 2,000 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $85.00, for a total transaction of $170,000.00. Following the sale, the senior vice president now owns 24,025 shares of the company's stock, valued at approximately $2,042,125. This represents a 7.68 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 75,390 shares of company stock worth $6,369,938. 1.95% of the stock is owned by insiders.
Several institutional investors have recently added to or reduced their stakes in BLKB. TD Private Client Wealth LLC grew its stake in shares of Blackbaud by 42.0% in the 3rd quarter. TD Private Client Wealth LLC now owns 1,174 shares of the technology company's stock valued at $99,000 after purchasing an additional 347 shares during the last quarter. Teachers Retirement System of The State of Kentucky lifted its holdings in shares of Blackbaud by 52.0% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 56,336 shares of the technology company's stock worth $4,770,000 after purchasing an additional 19,270 shares during the period. M&T Bank Corp lifted its holdings in shares of Blackbaud by 85.2% during the third quarter. M&T Bank Corp now owns 25,193 shares of the technology company's stock worth $2,133,000 after purchasing an additional 11,591 shares during the period. Barclays PLC grew its position in Blackbaud by 170.4% in the 3rd quarter. Barclays PLC now owns 80,557 shares of the technology company's stock valued at $6,821,000 after buying an additional 50,765 shares during the last quarter. Finally, XTX Topco Ltd acquired a new position in Blackbaud in the 3rd quarter valued at $573,000. Institutional investors and hedge funds own 94.21% of the company's stock.
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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