Blackbaud (NASDAQ:BLKB) Lowered to “Buy” at ValuEngine

ValuEngine lowered shares of Blackbaud (NASDAQ:BLKB) from a strong-buy rating to a buy rating in a research report sent to investors on Wednesday, ValuEngine reports.

BLKB has been the subject of a number of other reports. DA Davidson increased their target price on Blackbaud to $89.00 and gave the stock a neutral rating in a research note on Thursday, August 1st. BidaskClub cut Blackbaud from a buy rating to a hold rating in a research note on Tuesday, September 3rd. Zacks Investment Research cut Blackbaud from a strong-buy rating to a hold rating and set a $101.00 target price for the company. in a research note on Wednesday, August 7th. Finally, Bank of America reissued an underperform rating and set a $80.00 target price (up from $70.00) on shares of Blackbaud in a research note on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating to the company’s stock. The company has a consensus rating of Hold and an average target price of $91.71.

NASDAQ BLKB traded up $1.89 during trading hours on Wednesday, reaching $90.44. 119,248 shares of the company’s stock were exchanged, compared to its average volume of 269,561. The company’s 50-day moving average is $91.07 and its two-hundred day moving average is $83.82. Blackbaud has a one year low of $58.23 and a one year high of $97.35. The company has a debt-to-equity ratio of 1.75, a quick ratio of 0.76 and a current ratio of 0.76. The company has a market capitalization of $4.45 billion, a price-to-earnings ratio of 48.36, a price-to-earnings-growth ratio of 8.59 and a beta of 1.21.

Blackbaud (NASDAQ:BLKB) last posted its earnings results on Tuesday, July 30th. The technology company reported $0.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.37. Blackbaud had a return on equity of 20.51% and a net margin of 3.04%. The business had revenue of $226.40 million during the quarter, compared to analysts’ expectations of $223.53 million. During the same period in the prior year, the business earned $0.69 EPS. Blackbaud’s revenue for the quarter was up 8.2% compared to the same quarter last year. Research analysts predict that Blackbaud will post 1.27 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Wednesday, August 28th were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 0.53%. The ex-dividend date was Tuesday, August 27th. Blackbaud’s dividend payout ratio (DPR) is currently 25.67%.

In other Blackbaud news, Director Joyce Nelson sold 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $88.62, for a total transaction of $88,620.00. Following the completion of the transaction, the director now owns 12,051 shares of the company’s stock, valued at approximately $1,067,959.62. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director George H. Ellis sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $88.20, for a total value of $176,400.00. Following the transaction, the director now directly owns 4,404 shares of the company’s stock, valued at approximately $388,432.80. The disclosure for this sale can be found here. Corporate insiders own 1.56% of the company’s stock.

Large investors have recently added to or reduced their stakes in the business. Municipal Employees Retirement System of Michigan lifted its holdings in Blackbaud by 1.5% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 8,980 shares of the technology company’s stock valued at $750,000 after purchasing an additional 130 shares during the last quarter. Private Capital Group LLC lifted its holdings in Blackbaud by 13.3% during the 2nd quarter. Private Capital Group LLC now owns 1,250 shares of the technology company’s stock valued at $128,000 after purchasing an additional 147 shares during the last quarter. Advisory Services Network LLC lifted its holdings in Blackbaud by 70.6% during the 2nd quarter. Advisory Services Network LLC now owns 377 shares of the technology company’s stock valued at $32,000 after purchasing an additional 156 shares during the last quarter. Profund Advisors LLC lifted its holdings in Blackbaud by 3.0% during the 2nd quarter. Profund Advisors LLC now owns 5,699 shares of the technology company’s stock valued at $476,000 after purchasing an additional 168 shares during the last quarter. Finally, Foundry Partners LLC lifted its holdings in Blackbaud by 1.2% during the 2nd quarter. Foundry Partners LLC now owns 23,034 shares of the technology company’s stock valued at $1,923,000 after purchasing an additional 263 shares during the last quarter.

About Blackbaud

Blackbaud, Inc provides cloud software solutions to nonprofits, foundations, companies, education institutions, healthcare organizations, individual change agents, and other charitable giving entities. The company offers fundraising and relationship management solutions and services, including Blackbaud Raiser's Edge NXT, Blackbaud CRM, Blackbaud Luminate CRM, Blackbaud eTapestry, Blackbaud TeamRaiser, everydayhero, Blackbaud Peer-to-Peer Fundraising, and Blackbaud Guided Fundraising; and marketing and engagement solutions, such as Blackbaud Luminate Online, Blackbaud Online Express, Blackbaud NetCommunity, Blackbaud Attentive.ly, and Blackbaud School Website System.

Read More: Conference Calls and Individual Investors

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Blackbaud (NASDAQ:BLKB)

Receive News & Ratings for Blackbaud Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Blackbaud and related companies with MarketBeat.com's FREE daily email newsletter.