Blackbaud Inc. (NASDAQ:BLKB)‘s stock had its “buy” rating restated by analysts at B. Riley in a research note issued on Tuesday. They currently have a $75.00 price objective on the stock. B. Riley’s price objective points to a potential upside of 18.18% from the company’s previous close.
Several other analysts also recently commented on the stock. Off Wall Street initiated coverage on shares of Blackbaud in a research report on Wednesday, July 27th. They issued a “sell” rating and a $50.00 price target for the company. Zacks Investment Research upgraded shares of Blackbaud from a “strong sell” rating to a “hold” rating in a research report on Monday, November 7th. JMP Securities began coverage on shares of Blackbaud in a research report on Thursday, October 13th. They set an “outperform” rating for the company. Finally, Wunderlich upped their price objective on shares of Blackbaud from $69.00 to $78.00 and gave the stock a “buy” rating in a research report on Tuesday, August 2nd. Two research analysts have rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $69.89.
Blackbaud (NASDAQ:BLKB) traded down 0.60% during trading on Tuesday, hitting $63.46. 143,915 shares of the stock traded hands. Blackbaud has a 52-week low of $49.89 and a 52-week high of $71.76. The company’s 50 day moving average price is $63.49 and its 200-day moving average price is $65.49. The stock has a market cap of $2.93 billion, a P/E ratio of 97.63 and a beta of 0.96.
Blackbaud (NASDAQ:BLKB) last released its quarterly earnings results on Tuesday, November 1st. The company reported $0.45 EPS for the quarter, missing the consensus estimate of $0.51 by $0.06. Blackbaud had a net margin of 3.97% and a return on equity of 27.58%. The business earned $183.10 million during the quarter, compared to analysts’ expectations of $184.68 million. During the same quarter last year, the company earned $0.38 EPS. The firm’s revenue for the quarter was up 15.3% compared to the same quarter last year. Equities research analysts forecast that Blackbaud will post $1.90 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Wednesday, November 23rd will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Monday, November 21st. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.76%. Blackbaud’s dividend payout ratio (DPR) is presently 78.69%.
In related news, EVP Kevin W. Mooney sold 4,319 shares of the stock in a transaction dated Monday, November 7th. The shares were sold at an average price of $60.85, for a total value of $262,811.15. Following the sale, the executive vice president now directly owns 72,797 shares of the company’s stock, valued at approximately $4,429,697.45. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Joyce Nelson sold 1,000 shares of the stock in a transaction dated Tuesday, November 15th. The shares were sold at an average price of $64.69, for a total transaction of $64,690.00. Following the completion of the sale, the director now directly owns 14,254 shares in the company, valued at $922,091.26. The disclosure for this sale can be found here. Insiders own 2.74% of the company’s stock.
A number of large investors have recently modified their holdings of the stock. Assetmark acquired a new stake in shares of Blackbaud during the third quarter worth approximately $0. LS Investment Advisors LLC boosted its stake in shares of Blackbaud by 3.6% in the second quarter. LS Investment Advisors LLC now owns 1,696 shares of the company’s stock worth $115,000 after buying an additional 59 shares during the last quarter. Invictus RG boosted its stake in shares of Blackbaud by 264.9% in the first quarter. Invictus RG now owns 1,912 shares of the company’s stock worth $120,000 after buying an additional 1,388 shares during the last quarter. Tower Research Capital LLC TRC boosted its stake in shares of Blackbaud by 2,651.5% in the second quarter. Tower Research Capital LLC TRC now owns 1,816 shares of the company’s stock worth $124,000 after buying an additional 1,750 shares during the last quarter. Finally, BlackRock Inc. boosted its stake in shares of Blackbaud by 49.0% in the first quarter. BlackRock Inc. now owns 3,197 shares of the company’s stock worth $201,000 after buying an additional 1,052 shares during the last quarter.
Blackbaud Company Profile