Blackbaud, Inc. (NASDAQ:BLKB) Receives $86.67 Average Price Target from Analysts

Blackbaud, Inc. (NASDAQ:BLKB) has been given an average recommendation of “Hold” by the five ratings firms that are currently covering the stock, Marketbeat reports. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $86.67.

A number of brokerages recently commented on BLKB. Stifel Nicolaus raised their price objective on shares of Blackbaud from $80.00 to $85.00 and gave the stock a “hold” rating in a report on Thursday, September 26th. Raymond James dropped their target price on shares of Blackbaud from $98.00 to $95.00 and set an “outperform” rating for the company in a research report on Monday, October 7th. Evercore ISI raised shares of Blackbaud to a “hold” rating in a report on Thursday, August 1st. Baird R W lowered shares of Blackbaud from a “strong-buy” rating to a “hold” rating in a report on Thursday. Finally, Robert W. Baird downgraded shares of Blackbaud from an “outperform” rating to a “neutral” rating and dropped their target price for the company from $92.00 to $80.00 in a research report on Thursday.

Insiders Place Their Bets

In related news, EVP Kevin Mcdearis sold 2,261 shares of Blackbaud stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $85.12, for a total value of $192,456.32. Following the sale, the executive vice president now owns 60,129 shares in the company, valued at $5,118,180.48. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Blackbaud news, EVP Kevin Mcdearis sold 2,261 shares of the business’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $85.12, for a total value of $192,456.32. Following the completion of the transaction, the executive vice president now owns 60,129 shares of the company’s stock, valued at approximately $5,118,180.48. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Sarah E. Nash sold 3,220 shares of the business’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $76.18, for a total value of $245,299.60. Following the sale, the director now owns 26,823 shares of the company’s stock, valued at approximately $2,043,376.14. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 51,409 shares of company stock valued at $4,179,193. 1.95% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC grew its position in Blackbaud by 5.1% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 264,816 shares of the technology company’s stock valued at $19,633,000 after acquiring an additional 12,881 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Blackbaud by 306.3% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 86,747 shares of the technology company’s stock worth $6,245,000 after purchasing an additional 65,395 shares during the period. BNP Paribas Financial Markets lifted its holdings in Blackbaud by 46.1% in the first quarter. BNP Paribas Financial Markets now owns 58,080 shares of the technology company’s stock valued at $4,306,000 after acquiring an additional 18,335 shares during the period. Janney Montgomery Scott LLC increased its position in shares of Blackbaud by 99.4% in the first quarter. Janney Montgomery Scott LLC now owns 6,276 shares of the technology company’s stock valued at $465,000 after buying an additional 3,128 shares in the last quarter. Finally, Greenwood Capital Associates LLC increased its position in shares of Blackbaud by 22.5% during the first quarter. Greenwood Capital Associates LLC now owns 9,210 shares of the technology company’s stock worth $683,000 after purchasing an additional 1,691 shares in the last quarter. 94.21% of the stock is currently owned by institutional investors.

Blackbaud Trading Up 2.9 %

Shares of BLKB stock opened at $77.72 on Friday. The business’s 50 day moving average is $83.30 and its two-hundred day moving average is $79.55. The company has a market cap of $3.94 billion, a PE ratio of 76.20 and a beta of 1.03. The company has a quick ratio of 0.80, a current ratio of 0.68 and a debt-to-equity ratio of 1.79. Blackbaud has a 12 month low of $66.47 and a 12 month high of $88.56.

Blackbaud (NASDAQ:BLKB) last announced its earnings results on Wednesday, October 30th. The technology company reported $0.99 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.08). Blackbaud had a return on equity of 20.34% and a net margin of 4.61%. The company had revenue of $286.70 million for the quarter, compared to analyst estimates of $293.74 million. During the same quarter in the previous year, the company posted $0.65 earnings per share. Blackbaud’s revenue for the quarter was up 3.3% on a year-over-year basis. Equities analysts predict that Blackbaud will post 2.45 EPS for the current year.

Blackbaud declared that its board has approved a stock repurchase program on Tuesday, July 30th that allows the company to buyback $800.00 million in outstanding shares. This buyback authorization allows the technology company to purchase up to 18.1% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

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.