Analysts Set Blackbaud, Inc. (NASDAQ:BLKB) Target Price at $90.50

Blackbaud, Inc. (NASDAQ:BLKB) has earned a consensus recommendation of “Hold” from the six analysts that are currently covering the company, reports. Two investment analysts have rated the stock with a sell recommendation and four have assigned a hold recommendation to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $90.50.

Several research firms have recently issued reports on BLKB. Stephens set a $92.00 price objective on shares of Blackbaud and gave the company a “hold” rating in a report on Friday, October 18th. BidaskClub cut Blackbaud from a “sell” rating to a “strong sell” rating in a report on Wednesday. Zacks Investment Research downgraded Blackbaud from a “strong-buy” rating to a “hold” rating and set a $101.00 target price for the company. in a research report on Wednesday, August 7th. Finally, ValuEngine lowered Blackbaud from a “buy” rating to a “hold” rating in a research note on Thursday, October 10th.

BLKB stock traded down $0.26 during trading on Friday, hitting $79.49. The company had a trading volume of 211,163 shares, compared to its average volume of 174,174. The firm has a market capitalization of $4.08 billion, a price-to-earnings ratio of 42.51 and a beta of 1.17. The business has a 50 day moving average of $84.44 and a 200 day moving average of $85.63. Blackbaud has a fifty-two week low of $58.23 and a fifty-two week high of $97.35. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 1.56.

Blackbaud (NASDAQ:BLKB) last released its earnings results on Monday, October 28th. The technology company reported $0.56 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.50 by $0.06. Blackbaud had a net margin of 2.25% and a return on equity of 18.97%. The firm had revenue of $221.10 million for the quarter, compared to analysts’ expectations of $219.36 million. During the same quarter last year, the company earned $0.59 EPS. Blackbaud’s quarterly revenue was up 5.5% on a year-over-year basis. As a group, equities analysts predict that Blackbaud will post 1.25 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Wednesday, November 27th will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 0.60%. The ex-dividend date is Tuesday, November 26th. Blackbaud’s payout ratio is currently 25.67%.

In other Blackbaud news, Director Sarah E. Nash sold 1,546 shares of Blackbaud stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $80.66, for a total value of $124,700.36. Following the transaction, the director now owns 21,836 shares in the company, valued at $1,761,291.76. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Anthony W. Boor sold 2,050 shares of Blackbaud stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $80.76, for a total transaction of $165,558.00. Following the completion of the transaction, the chief financial officer now owns 80,209 shares in the company, valued at approximately $6,477,678.84. The disclosure for this sale can be found here. Over the last quarter, insiders sold 3,846 shares of company stock worth $311,288. 1.56% of the stock is owned by company insiders.

Several large investors have recently made changes to their positions in the company. Parametric Portfolio Associates LLC raised its holdings in shares of Blackbaud by 6.1% during the third quarter. Parametric Portfolio Associates LLC now owns 128,611 shares of the technology company’s stock valued at $11,619,000 after acquiring an additional 7,344 shares during the period. California State Teachers Retirement System grew its position in Blackbaud by 1.2% during the 3rd quarter. California State Teachers Retirement System now owns 76,150 shares of the technology company’s stock worth $6,879,000 after purchasing an additional 910 shares in the last quarter. Stifel Financial Corp acquired a new stake in Blackbaud during the 3rd quarter valued at $250,000. Trillium Asset Management LLC raised its stake in Blackbaud by 2.0% during the 3rd quarter. Trillium Asset Management LLC now owns 174,444 shares of the technology company’s stock valued at $15,759,000 after purchasing an additional 3,395 shares during the period. Finally, Putnam FL Investment Management Co. acquired a new stake in shares of Blackbaud in the third quarter worth $520,000.

About Blackbaud

Blackbaud, Inc provides cloud software solutions to nonprofits, foundations, companies, education institutions, healthcare organizations, individual change agents, and other charitable giving entities. The company offers fundraising and relationship management solutions and services, including Blackbaud Raiser's Edge NXT, Blackbaud CRM, Blackbaud Luminate CRM, Blackbaud eTapestry, Blackbaud TeamRaiser, everydayhero, Blackbaud Peer-to-Peer Fundraising, and Blackbaud Guided Fundraising; and marketing and engagement solutions, such as Blackbaud Luminate Online, Blackbaud Online Express, Blackbaud NetCommunity, Blackbaud, and Blackbaud School Website System.

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