Blackbaud (NASDAQ:BLKB) Cut to Hold at Zacks Research

Zacks Research lowered shares of Blackbaud (NASDAQ:BLKB) from a strong-buy rating to a hold rating in a report issued on Monday,Zacks.com reports.

Several other research firms also recently issued reports on BLKB. Evercore set a $55.00 price objective on Blackbaud in a report on Wednesday, February 11th. Robert W. Baird set a $60.00 price objective on Blackbaud in a report on Wednesday, February 11th. Weiss Ratings restated a “sell (d)” rating on shares of Blackbaud in a report on Wednesday, January 21st. Stifel Nicolaus set a $50.00 price objective on Blackbaud in a report on Tuesday, February 10th. Finally, Raymond James Financial set a $60.00 price objective on Blackbaud in a report on Tuesday, February 10th. Two research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Blackbaud has a consensus rating of “Reduce” and a consensus target price of $56.25.

Blackbaud Price Performance

BLKB stock opened at $37.96 on Monday. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 12.78. Blackbaud has a 52-week low of $33.95 and a 52-week high of $74.88. The stock’s 50 day moving average is $43.98 and its two-hundred day moving average is $54.75. The company has a market capitalization of $1.74 billion, a PE ratio of 15.95, a P/E/G ratio of 1.24 and a beta of 1.18.

Blackbaud (NASDAQ:BLKB) last posted its quarterly earnings data on Tuesday, February 10th. The technology company reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.15 by $0.04. Blackbaud had a return on equity of 175.57% and a net margin of 10.19%.The company had revenue of $295.26 million for the quarter, compared to the consensus estimate of $292.71 million. During the same period in the previous year, the business earned $1.08 EPS. Blackbaud’s revenue for the quarter was down 2.3% compared to the same quarter last year. Blackbaud has set its FY 2026 guidance at 5.150-5.250 EPS. Analysts predict that Blackbaud will post 3.05 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP David J. Benjamin sold 14,349 shares of the business’s stock in a transaction that occurred on Tuesday, February 24th. The stock was sold at an average price of $47.47, for a total value of $681,147.03. Following the completion of the sale, the executive vice president directly owned 73,124 shares in the company, valued at approximately $3,471,196.28. The trade was a 16.40% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Kevin P. Gregoire sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $50.02, for a total value of $100,040.00. Following the transaction, the executive vice president owned 135,194 shares of the company’s stock, valued at $6,762,403.88. This represents a 1.46% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 39,801 shares of company stock worth $1,893,874. 1.97% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Trust Point Inc. boosted its position in Blackbaud by 3.2% during the 4th quarter. Trust Point Inc. now owns 6,014 shares of the technology company’s stock valued at $381,000 after purchasing an additional 184 shares during the period. Glenmede Investment Management LP boosted its position in Blackbaud by 2.1% during the 3rd quarter. Glenmede Investment Management LP now owns 10,492 shares of the technology company’s stock valued at $675,000 after purchasing an additional 215 shares during the period. AXQ Capital LP boosted its position in Blackbaud by 3.0% during the 4th quarter. AXQ Capital LP now owns 8,307 shares of the technology company’s stock valued at $526,000 after purchasing an additional 243 shares during the period. GAMMA Investing LLC boosted its position in Blackbaud by 46.6% during the 3rd quarter. GAMMA Investing LLC now owns 777 shares of the technology company’s stock valued at $50,000 after purchasing an additional 247 shares during the period. Finally, Comerica Bank boosted its position in Blackbaud by 1.0% during the 4th quarter. Comerica Bank now owns 24,847 shares of the technology company’s stock valued at $1,573,000 after purchasing an additional 255 shares during the period. Institutional investors and hedge funds own 94.21% of the company’s stock.

Blackbaud Company Profile

Blackbaud, Inc is a leading provider of cloud software, services and data intelligence solutions designed specifically for the social good community. The company’s main offerings include fundraising and relationship management platforms, financial management systems, grant and award management tools, and advanced analytics. Its flagship products—such as Raiser’s Edge NXT, Blackbaud Financial Edge NXT and Blackbaud NetCommunity—help nonprofit organizations, educational institutions, healthcare providers and foundations streamline donor engagement, optimize financial operations and measure program impact.

Founded in 1981 and headquartered in Charleston, South Carolina, Blackbaud has grown from a small technology startup into a global specialist in nonprofit software.