Stifel Nicolaus Lowers Blackbaud (NASDAQ:BLKB) Price Target to $65.00

Blackbaud (NASDAQ:BLKB) had its target price decreased by Stifel Nicolaus from $75.00 to $65.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has a “hold” rating on the technology company’s stock. Stifel Nicolaus’ price objective indicates a potential upside of 3.75% from the stock’s current price.

BLKB has been the subject of a number of other research reports. Wall Street Zen upgraded shares of Blackbaud from a “hold” rating to a “buy” rating in a report on Saturday, August 2nd. Weiss Ratings reiterated a “sell (d)” rating on shares of Blackbaud in a report on Wednesday. Three equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Blackbaud currently has an average rating of “Reduce” and an average target price of $70.50.

Blackbaud Price Performance

Blackbaud stock opened at $62.65 on Wednesday. The firm has a 50-day moving average price of $65.33 and a 200-day moving average price of $63.85. The firm has a market capitalization of $3.04 billion, a PE ratio of -10.84, a price-to-earnings-growth ratio of 4.40 and a beta of 1.11. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 12.92. Blackbaud has a 12-month low of $58.05 and a 12-month high of $88.95.

Blackbaud (NASDAQ:BLKB) last released its earnings results on Monday, March 4th. The technology company reported $0.68 earnings per share (EPS) for the quarter. Blackbaud had a negative net margin of 24.82% and a positive return on equity of 61.72%. The firm had revenue of $274.76 million during the quarter. As a group, equities research analysts forecast that Blackbaud will post 3.05 EPS for the current year.

Insider Activity

In other news, Director Rupal S. Hollenbeck sold 2,500 shares of the business’s stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $63.98, for a total value of $159,950.00. Following the completion of the sale, the director owned 7,966 shares in the company, valued at approximately $509,664.68. The trade was a 23.89% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Kevin P. Gregoire sold 8,000 shares of Blackbaud stock in a transaction that occurred on Wednesday, July 30th. The stock was sold at an average price of $72.67, for a total transaction of $581,360.00. Following the completion of the transaction, the executive vice president directly owned 111,156 shares in the company, valued at approximately $8,077,706.52. The trade was a 6.71% decrease in their position. The disclosure for this sale can be found here. Insiders own 1.97% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of BLKB. Two Sigma Investments LP grew its position in shares of Blackbaud by 20.3% in the 4th quarter. Two Sigma Investments LP now owns 3,076 shares of the technology company’s stock worth $227,000 after buying an additional 518 shares during the last quarter. GAMMA Investing LLC grew its position in Blackbaud by 5,447.8% during the 1st quarter. GAMMA Investing LLC now owns 35,617 shares of the technology company’s stock worth $2,210,000 after purchasing an additional 34,975 shares during the last quarter. UMB Bank n.a. grew its position in Blackbaud by 63.2% during the 1st quarter. UMB Bank n.a. now owns 692 shares of the technology company’s stock worth $43,000 after purchasing an additional 268 shares during the last quarter. Wedge Capital Management L L P NC purchased a new stake in Blackbaud during the 1st quarter worth approximately $1,645,000. Finally, Azzad Asset Management Inc. ADV grew its position in Blackbaud by 3.4% during the 1st quarter. Azzad Asset Management Inc. ADV now owns 12,232 shares of the technology company’s stock worth $759,000 after purchasing an additional 398 shares during the last quarter. Hedge funds and other institutional investors own 94.21% of the company’s stock.

Blackbaud Company Profile

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.