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

Blackbaud (NASDAQ:BLKB) was downgraded by research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report released on Saturday.

A number of other brokerages have also issued reports on BLKB. Stifel Nicolaus set a $70.00 price objective on Blackbaud in a report on Wednesday. Weiss Ratings reissued a “sell (d)” rating on shares of Blackbaud in a report on Wednesday, October 8th. Two research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Blackbaud has an average rating of “Reduce” and an average target price of $73.00.

Blackbaud Stock Down 2.9%

NASDAQ:BLKB opened at $64.04 on Friday. The firm has a market capitalization of $3.11 billion, a PE ratio of -12.32, a price-to-earnings-growth ratio of 4.75 and a beta of 1.11. The stock has a 50 day moving average of $65.48 and a 200-day moving average of $64.16. Blackbaud has a 52 week low of $58.05 and a 52 week high of $88.95. The company has a current ratio of 0.69, a quick ratio of 0.84 and a debt-to-equity ratio of 9.63.

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

Insiders Place Their Bets

In other Blackbaud news, Director Rupal S. Hollenbeck sold 2,500 shares of the company’s stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $63.98, for a total value of $159,950.00. Following the completion of the sale, the director directly owned 7,966 shares in the company, valued at $509,664.68. This represents a 23.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.97% of the stock is owned by company insiders.

Institutional Investors Weigh In On Blackbaud

Institutional investors have recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. lifted its position in Blackbaud by 2.0% in the first quarter. Envestnet Asset Management Inc. now owns 131,033 shares of the technology company’s stock worth $8,131,000 after purchasing an additional 2,582 shares during the period. KBC Group NV lifted its position in Blackbaud by 31.8% in the first quarter. KBC Group NV now owns 2,209 shares of the technology company’s stock worth $137,000 after purchasing an additional 533 shares during the period. Triodos Investment Management BV lifted its position in Blackbaud by 17.6% in the second quarter. Triodos Investment Management BV now owns 50,000 shares of the technology company’s stock worth $3,210,000 after purchasing an additional 7,500 shares during the period. Farther Finance Advisors LLC lifted its position in Blackbaud by 2,168.3% in the second quarter. Farther Finance Advisors LLC now owns 1,361 shares of the technology company’s stock worth $87,000 after purchasing an additional 1,301 shares during the period. Finally, Intech Investment Management LLC lifted its position in shares of Blackbaud by 5.2% during the 1st quarter. Intech Investment Management LLC now owns 43,733 shares of the technology company’s stock valued at $2,714,000 after acquiring an additional 2,144 shares during the last quarter. 94.21% of the stock is currently owned by institutional investors and hedge funds.

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.