Several other analysts have also commented on BLKB. Off Wall Street started coverage on Blackbaud in a report on Wednesday, July 27th. They set a sell rating and a $50.00 target price on the stock. William Blair started coverage on Blackbaud in a report on Monday, July 11th. They set an outperform rating on the stock. Evercore Partners Inc. started coverage on Blackbaud in a report on Monday, June 27th. They set a hold rating on the stock. Zacks Investment Research lowered Blackbaud from a hold rating to a sell rating in a report on Thursday, August 4th. Finally, Stifel Nicolaus raised their target price on Blackbaud from $70.00 to $73.00 and gave the stock a buy rating in a report on Thursday, June 30th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average target price of $70.90.
Shares of Blackbaud (NASDAQ:BLKB) opened at 63.63 on Thursday. The company has a market cap of $2.93 billion, a P/E ratio of 109.71 and a beta of 1.16. Blackbaud has a 1-year low of $49.89 and a 1-year high of $71.76. The firm has a 50-day moving average price of $66.00 and a 200-day moving average price of $65.37.
Blackbaud (NASDAQ:BLKB) last announced its quarterly earnings data on Monday, August 1st. The company reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by $0.04. The firm earned $180.20 million during the quarter, compared to analyst estimates of $182.05 million. Blackbaud had a net margin of 3.97% and a return on equity of 27.31%. The firm’s revenue for the quarter was up 15.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.41 earnings per share. On average, equities analysts expect that Blackbaud will post $1.92 EPS for the current year.
In related news, SVP Jon W. Olson sold 4,500 shares of Blackbaud stock in a transaction that occurred on Thursday, August 4th. The stock was sold at an average price of $66.88, for a total transaction of $300,960.00. Following the transaction, the senior vice president now owns 33,404 shares in the company, valued at $2,234,059.52. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Joyce Nelson sold 600 shares of Blackbaud stock in a transaction that occurred on Tuesday, August 23rd. The stock was sold at an average price of $68.11, for a total value of $40,866.00. Following the transaction, the director now owns 15,254 shares in the company, valued at approximately $1,038,949.94. The disclosure for this sale can be found here. 2.74% of the stock is owned by insiders.
A number of institutional investors have recently made changes to their positions in the company. LS Investment Advisors LLC increased its position in shares of Blackbaud by 3.6% in the second quarter. LS Investment Advisors LLC now owns 1,696 shares of the company’s stock worth $115,000 after buying an additional 59 shares during the last quarter. Invictus RG increased its position in shares of Blackbaud by 264.9% in the first quarter. Invictus RG now owns 1,912 shares of the company’s stock worth $120,000 after buying an additional 1,388 shares during the last quarter. Tower Research Capital LLC TRC increased its position in shares of Blackbaud by 2,651.5% in the second quarter. Tower Research Capital LLC TRC now owns 1,816 shares of the company’s stock worth $124,000 after buying an additional 1,750 shares during the last quarter. BlackRock Inc. increased its position in shares of Blackbaud by 49.0% in the first quarter. BlackRock Inc. now owns 3,197 shares of the company’s stock worth $201,000 after buying an additional 1,052 shares during the last quarter. Finally, Mariner Wealth Advisors LLC bought a new position in shares of Blackbaud during the first quarter worth approximately $210,000.
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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