Analysts Set Expectations for Blackbaud, Inc.’s Q1 2019 Earnings (BLKB)

Blackbaud, Inc. (NASDAQ:BLKB) – Research analysts at B. Riley issued their Q1 2019 EPS estimates for shares of Blackbaud in a research report issued to clients and investors on Thursday. B. Riley analyst K. Liu forecasts that the technology company will post earnings per share of $0.51 for the quarter. B. Riley has a “Neutral” rating and a $90.00 price target on the stock. B. Riley also issued estimates for Blackbaud’s Q2 2019 earnings at $0.58 EPS.

BLKB has been the subject of several other research reports. Stifel Nicolaus raised their target price on shares of Blackbaud from $100.00 to $105.00 and gave the stock a “buy” rating in a report on Thursday, February 8th. Zacks Investment Research upgraded shares of Blackbaud from a “hold” rating to a “buy” rating and set a $103.00 target price for the company in a report on Thursday, February 8th. Citigroup set a $112.00 target price on shares of Blackbaud and gave the stock a “buy” rating in a report on Friday, October 27th. BidaskClub downgraded shares of Blackbaud from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, December 12th. Finally, Dougherty & Co assumed coverage on shares of Blackbaud in a research note on Tuesday, October 31st. They issued a “neutral” rating on the stock. One research analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $95.33.

Blackbaud (NASDAQ BLKB) traded up $1.46 during mid-day trading on Monday, reaching $95.20. 244,900 shares of the company’s stock traded hands, compared to its average volume of 303,711. Blackbaud has a fifty-two week low of $68.61 and a fifty-two week high of $104.55. The company has a quick ratio of 0.63, a current ratio of 0.81 and a debt-to-equity ratio of 1.40. The company has a market capitalization of $4,507.92, a price-to-earnings ratio of 70.80, a P/E/G ratio of 4.86 and a beta of 0.75.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Wednesday, February 28th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 0.50%. The ex-dividend date is Tuesday, February 27th. Blackbaud’s dividend payout ratio (DPR) is 35.04%.

In other Blackbaud news, EVP Brian Boruff sold 800 shares of the firm’s stock in a transaction dated Wednesday, November 22nd. The shares were sold at an average price of $103.95, for a total transaction of $83,160.00. Following the transaction, the executive vice president now owns 50,862 shares of the company’s stock, valued at approximately $5,287,104.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Anthony W. Boor sold 10,954 shares of the firm’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $94.42, for a total transaction of $1,034,276.68. Following the transaction, the chief financial officer now directly owns 125,224 shares in the company, valued at approximately $11,823,650.08. The disclosure for this sale can be found here. Company insiders own 2.19% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Schwab Charles Investment Management Inc. lifted its stake in Blackbaud by 5.1% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 215,252 shares of the technology company’s stock valued at $18,900,000 after acquiring an additional 10,517 shares during the period. Municipal Employees Retirement System of Michigan lifted its position in shares of Blackbaud by 28.1% during the third quarter. Municipal Employees Retirement System of Michigan now owns 14,540 shares of the technology company’s stock worth $1,277,000 after purchasing an additional 3,190 shares in the last quarter. Crossmark Global Holdings Inc. acquired a new stake in shares of Blackbaud during the third quarter worth about $389,000. JPMorgan Chase & Co. lifted its position in shares of Blackbaud by 2.9% during the third quarter. JPMorgan Chase & Co. now owns 945,845 shares of the technology company’s stock worth $82,432,000 after purchasing an additional 26,980 shares in the last quarter. Finally, Jane Street Group LLC lifted its position in shares of Blackbaud by 80.7% during the third quarter. Jane Street Group LLC now owns 6,081 shares of the technology company’s stock worth $534,000 after purchasing an additional 2,715 shares in the last quarter.

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Blackbaud Company Profile

Blackbaud, Inc is a cloud software company. The Company offers a range of cloud and on-premise solutions, as well as a resource network that empowers and connects organizations of all sizes. Its segments include the General Markets Business Unit (the GMBU), the Enterprise Customer Business Unit (the ECBU) and the International Business Unit (the IBU).

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