Blackbaud, Inc. (NASDAQ:BLKB) Receives Average Rating of “Hold” from Analysts

Shares of Blackbaud, Inc. (NASDAQ:BLKB) have been assigned a consensus recommendation of “Hold” from the five ratings firms that are presently covering the company, MarketBeat reports. Four analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $78.67.

A number of research firms have weighed in on BLKB. Stifel Nicolaus cut their target price on shares of Blackbaud from $75.00 to $65.00 and set a “hold” rating for the company in a research report on Thursday. Robert W. Baird lowered their price target on shares of Blackbaud from $80.00 to $76.00 and set a “neutral” rating on the stock in a report on Wednesday, February 19th.

Blackbaud Stock Up 0.5 %

Blackbaud stock opened at $61.40 on Monday. Blackbaud has a 52 week low of $58.05 and a 52 week high of $88.95. The stock has a market cap of $2.98 billion, a price-to-earnings ratio of -10.41 and a beta of 1.04. The company’s 50-day moving average price is $62.96 and its two-hundred day moving average price is $73.38. The company has a current ratio of 0.78, a quick ratio of 0.68 and a debt-to-equity ratio of 7.40.

Blackbaud (NASDAQ:BLKB) last issued its quarterly earnings results on Wednesday, April 30th. The technology company reported $0.96 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.06. The firm had revenue of $270.66 million for the quarter, compared to analysts’ expectations of $268.53 million. Blackbaud had a positive return on equity of 26.30% and a negative net margin of 24.83%. Blackbaud’s revenue was down 3.1% on a year-over-year basis. During the same quarter last year, the business posted $0.93 EPS. On average, 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 the business. Janus Henderson Group PLC grew its position in shares of Blackbaud by 1.2% in the 4th quarter. Janus Henderson Group PLC now owns 2,885,062 shares of the technology company’s stock valued at $213,263,000 after acquiring an additional 34,600 shares during the period. ArrowMark Colorado Holdings LLC boosted its position in shares of Blackbaud by 3.6% in the fourth quarter. ArrowMark Colorado Holdings LLC now owns 1,329,308 shares of the technology company’s stock valued at $98,262,000 after acquiring an additional 45,835 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Blackbaud by 0.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,019,923 shares of the technology company’s stock worth $75,393,000 after purchasing an additional 3,119 shares in the last quarter. Northern Trust Corp grew its position in Blackbaud by 9.1% during the fourth quarter. Northern Trust Corp now owns 693,577 shares of the technology company’s stock worth $51,269,000 after buying an additional 57,941 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of Blackbaud by 41.0% in the fourth quarter. Bank of New York Mellon Corp now owns 482,561 shares of the technology company’s stock worth $35,671,000 after purchasing an additional 140,273 shares during the period. 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.