Blackbaud (BLKB) Downgraded by BidaskClub

BidaskClub cut shares of Blackbaud (NASDAQ:BLKB) from a hold rating to a sell rating in a research report sent to investors on Tuesday.

BLKB has been the subject of several other reports. TheStreet lowered Blackbaud from a b rating to a c+ rating in a report on Wednesday, October 10th. Zacks Investment Research lowered Blackbaud from a hold rating to a sell rating in a report on Thursday, August 2nd. Stifel Nicolaus lowered Blackbaud from a buy rating to a hold rating and reduced their price objective for the company from $120.00 to $88.00 in a report on Tuesday, October 9th. Benchmark lowered Blackbaud from a buy rating to a hold rating in a report on Tuesday, October 9th. Finally, ValuEngine lowered Blackbaud from a buy rating to a hold rating in a report on Tuesday, October 9th. Three analysts have rated the stock with a sell rating, twelve have given a hold rating and one has issued a buy rating to the stock. The stock has a consensus rating of Hold and a consensus price target of $96.88.

Shares of BLKB stock traded up $0.12 during trading on Tuesday, hitting $73.74. The company’s stock had a trading volume of 3,180 shares, compared to its average volume of 515,713. The firm has a market cap of $3.65 billion, a PE ratio of 46.70, a P/E/G ratio of 5.47 and a beta of 0.61. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 1.35. Blackbaud has a 52 week low of $69.62 and a 52 week high of $120.35.

Blackbaud (NASDAQ:BLKB) last announced its quarterly earnings data on Monday, July 30th. The technology company reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.02. Blackbaud had a return on equity of 27.70% and a net margin of 8.14%. The business had revenue of $214.60 million during the quarter, compared to analyst estimates of $214.80 million. During the same period in the prior year, the company earned $0.54 earnings per share. Blackbaud’s revenue was up 11.8% compared to the same quarter last year. On average, research analysts expect that Blackbaud will post 1.64 earnings per share for the current year.

In other news, Director George H. Ellis sold 2,652 shares of the firm’s stock in a transaction on Monday, August 13th. The stock was sold at an average price of $96.16, for a total value of $255,016.32. Following the completion of the transaction, the director now directly owns 7,730 shares of the company’s stock, valued at $743,316.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Andrew M. Leitch sold 3,000 shares of the firm’s stock in a transaction on Friday, August 10th. The stock was sold at an average price of $95.72, for a total value of $287,160.00. Following the completion of the transaction, the director now directly owns 24,457 shares of the company’s stock, valued at $2,341,024.04. The disclosure for this sale can be found here. 1.55% of the stock is owned by company insiders.

Several institutional investors have recently bought and sold shares of the company. BlackRock Inc. boosted its holdings in shares of Blackbaud by 5.7% in the second quarter. BlackRock Inc. now owns 5,471,100 shares of the technology company’s stock worth $560,514,000 after acquiring an additional 295,974 shares during the period. Northern Trust Corp raised its position in shares of Blackbaud by 2.2% in the second quarter. Northern Trust Corp now owns 916,142 shares of the technology company’s stock worth $93,860,000 after buying an additional 20,136 shares in the last quarter. Conestoga Capital Advisors LLC raised its position in shares of Blackbaud by 5.9% in the second quarter. Conestoga Capital Advisors LLC now owns 742,969 shares of the technology company’s stock worth $76,117,000 after buying an additional 41,490 shares in the last quarter. Brown Advisory Inc. raised its position in shares of Blackbaud by 2.8% in the second quarter. Brown Advisory Inc. now owns 693,121 shares of the technology company’s stock worth $71,012,000 after buying an additional 19,169 shares in the last quarter. Finally, Principal Financial Group Inc. raised its position in shares of Blackbaud by 0.7% in the first quarter. Principal Financial Group Inc. now owns 510,535 shares of the technology company’s stock worth $51,978,000 after buying an additional 3,697 shares in the last quarter.

About Blackbaud

Blackbaud, Inc provides cloud software solutions to nonprofits, foundations, corporations, education institutions, healthcare organizations, and other charitable giving entities primarily in the United States, Canada, the United Kingdom, and Australia. The company offers Raiser's Edge NXT and Blackbaud CRM (constituent relationship management), which are fundraising and relationship management solutions; Luminate CRM for campaign management, constituent relations, business intelligence, and analytics; eTapestry, a cloud fundraising and donor management solution; everydayhero, a cloud crowdfundraising solution; and JustGiving, a social platform for giving.

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