Blackbaud (NASDAQ:BLKB) Cut to Hold at Wall Street Zen

Wall Street Zen cut shares of Blackbaud (NASDAQ:BLKB) from a buy rating to a hold rating in a research note issued to investors on Saturday.

Several other research firms have also recently commented on BLKB. Weiss Ratings reissued a “sell (d)” rating on shares of Blackbaud in a research note on Wednesday, October 8th. Stifel Nicolaus set a $70.00 target price on shares of Blackbaud in a research note on Wednesday, October 29th. Two analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus target price of $73.00.

Blackbaud Stock Down 0.2%

Blackbaud stock opened at $63.88 on Friday. The stock has a market cap of $3.10 billion, a price-to-earnings ratio of -12.28, a PEG ratio of 4.75 and a beta of 1.11. The company has a current ratio of 0.69, a quick ratio of 0.84 and a debt-to-equity ratio of 9.63. The company’s 50-day moving average price is $65.45 and its two-hundred day moving average price is $64.21. Blackbaud has a 52 week low of $58.05 and a 52 week high of $88.95.

Blackbaud (NASDAQ:BLKB) last released its earnings results on Monday, March 4th. The technology company reported $0.68 EPS for the quarter. The firm had revenue of $274.76 million for the quarter. Blackbaud had a negative net margin of 22.57% and a positive return on equity of 137.13%. On average, analysts expect that Blackbaud will post 3.05 EPS for the current fiscal year.

Insider Buying and Selling at Blackbaud

In other news, Director Rupal S. Hollenbeck sold 2,500 shares of the firm’s stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $63.98, for a total transaction of $159,950.00. Following the completion of the transaction, the director owned 7,966 shares in the company, valued at approximately $509,664.68. This trade represents a 23.89% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 1.97% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Annis Gardner Whiting Capital Advisors LLC purchased a new position in shares of Blackbaud in the third quarter worth approximately $61,000. TradeLink Capital LLC purchased a new position in shares of Blackbaud in the third quarter worth approximately $700,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Blackbaud in the third quarter worth approximately $2,356,000. Campbell & CO Investment Adviser LLC increased its position in shares of Blackbaud by 27.7% in the third quarter. Campbell & CO Investment Adviser LLC now owns 6,498 shares of the technology company’s stock worth $418,000 after acquiring an additional 1,408 shares in the last quarter. Finally, Procyon Advisors LLC increased its position in shares of Blackbaud by 12.8% in the third quarter. Procyon Advisors LLC now owns 4,084 shares of the technology company’s stock worth $263,000 after acquiring an additional 464 shares in the last quarter. 94.21% of the stock is owned by hedge funds and other institutional investors.

About Blackbaud

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.