Blackbaud, Inc. (NASDAQ:BLKB) declared a quarterly dividend on Tuesday, October 30th, Wall Street Journal reports. Investors of record on Wednesday, November 28th will be paid a dividend of 0.12 per share by the technology company on Friday, December 14th. This represents a $0.48 annualized dividend and a yield of 0.66%. The ex-dividend date is Tuesday, November 27th.
Blackbaud has a dividend payout ratio of 25.0% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Blackbaud to earn $1.75 per share next year, which means the company should continue to be able to cover its $0.48 annual dividend with an expected future payout ratio of 27.4%.
Shares of BLKB stock opened at $72.54 on Wednesday. Blackbaud has a 12-month low of $65.51 and a 12-month high of $120.35. The stock has a market cap of $3.42 billion, a P/E ratio of 45.62, a PEG ratio of 4.94 and a beta of 0.61. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 1.35.
In related news, Director Andrew M. Leitch sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, August 10th. The shares were sold at an average price of $95.72, for a total transaction of $287,160.00. Following the completion of the sale, the director now directly owns 24,457 shares of the company’s stock, valued at $2,341,024.04. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director George H. Ellis sold 2,652 shares of the business’s stock in a transaction that occurred on Monday, August 13th. The stock was sold at an average price of $96.16, for a total transaction of $255,016.32. Following the sale, the director now directly owns 7,730 shares of the company’s stock, valued at $743,316.80. The disclosure for this sale can be found here. Insiders own 1.55% of the company’s stock.
Several equities analysts recently issued reports on BLKB shares. BidaskClub downgraded shares of Blackbaud from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 1st. TheStreet downgraded shares of Blackbaud from a “b” rating to a “c+” rating in a research note on Wednesday, October 10th. Benchmark downgraded shares of Blackbaud from a “buy” rating to a “hold” rating in a research note on Tuesday, October 9th. Stifel Nicolaus downgraded shares of Blackbaud from a “buy” rating to a “hold” rating and dropped their target price for the stock from $120.00 to $88.00 in a research note on Tuesday, October 9th. Finally, Needham & Company LLC started coverage on shares of Blackbaud in a research note on Wednesday, July 18th. They issued a “hold” rating for the company. Three research analysts have rated the stock with a sell rating and twelve have given a hold rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $94.71.
Blackbaud Company Profile
Blackbaud, Inc provides cloud software solutions to nonprofits, foundations, corporations, education institutions, healthcare organizations, and other charitable giving entities primarily in the United States, Canada, the United Kingdom, and Australia. The company offers Raiser's Edge NXT and Blackbaud CRM (constituent relationship management), which are fundraising and relationship management solutions; Luminate CRM for campaign management, constituent relations, business intelligence, and analytics; eTapestry, a cloud fundraising and donor management solution; everydayhero, a cloud crowdfundraising solution; and JustGiving, a social platform for giving.
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