Blackbaud, Inc. (NASDAQ:BLKB) Given Average Rating of “Hold” by Brokerages

Blackbaud, Inc. (NASDAQ:BLKB) has earned a consensus rating of “Hold” from the five ratings firms that are currently covering the company, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $85.33.

Several research analysts have issued reports on BLKB shares. Robert W. Baird dropped their price objective on Blackbaud from $80.00 to $76.00 and set a “neutral” rating for the company in a research note on Wednesday, February 19th. Baird R W cut shares of Blackbaud from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 31st.

Blackbaud Price Performance

Shares of Blackbaud stock opened at $68.24 on Wednesday. The firm has a market cap of $3.36 billion, a P/E ratio of -11.57 and a beta of 1.08. The firm’s 50-day simple moving average is $76.14 and its 200-day simple moving average is $80.21. Blackbaud has a twelve month low of $66.07 and a twelve month high of $88.95. The company has a debt-to-equity ratio of 7.40, a quick ratio of 0.68 and a current ratio of 0.78.

Blackbaud (NASDAQ:BLKB) last released its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.58 earnings per share for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.50). Blackbaud had a negative net margin of 24.83% and a positive return on equity of 26.30%. The company had revenue of $302.23 million for the quarter, compared to analyst estimates of $303.41 million. As a group, research analysts expect that Blackbaud will post 3.05 EPS for the current fiscal year.

Institutional Trading of Blackbaud

A number of hedge funds and other institutional investors have recently made changes to their positions in BLKB. Xponance Inc. raised its position in Blackbaud by 2.4% in the 4th quarter. Xponance Inc. now owns 5,638 shares of the technology company’s stock worth $417,000 after purchasing an additional 130 shares during the last quarter. State of New Jersey Common Pension Fund D increased its stake in shares of Blackbaud by 0.6% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 24,152 shares of the technology company’s stock valued at $2,045,000 after buying an additional 151 shares during the period. Heritage Family Offices LLP raised its position in shares of Blackbaud by 5.9% during the fourth quarter. Heritage Family Offices LLP now owns 2,985 shares of the technology company’s stock worth $221,000 after acquiring an additional 166 shares during the last quarter. Huntington National Bank lifted its stake in shares of Blackbaud by 13.9% during the fourth quarter. Huntington National Bank now owns 1,864 shares of the technology company’s stock valued at $138,000 after acquiring an additional 227 shares during the period. Finally, Brookstone Capital Management boosted its holdings in Blackbaud by 3.7% in the fourth quarter. Brookstone Capital Management now owns 7,612 shares of the technology company’s stock valued at $563,000 after acquiring an additional 275 shares during the last quarter. 94.21% of the stock is currently owned by institutional investors and hedge funds.

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.