Today, Blackbaud Inc. (BLKB) Now Covered by JMP Securities

Today, Blackbaud Inc. (BLKB) Now Covered by JMP Securities

Stock analysts at JMP Securities started coverage on shares of Blackbaud Inc. (NASDAQ:BLKB) in a research report issued to clients and investors on Thursday. The firm set an “outperform” rating on the stock.

Several other research analysts also recently commented on the company. Zacks Investment Research downgraded Blackbaud from a “hold” rating to a “sell” rating in a report on Thursday, August 4th. B. Riley reissued a “buy” rating and issued a $77.00 target price on shares of Blackbaud in a report on Wednesday, August 3rd. Wunderlich boosted their target price on Blackbaud from $69.00 to $78.00 and gave the stock a “buy” rating in a report on Tuesday, August 2nd. Off Wall Street assumed coverage on Blackbaud in a report on Wednesday, July 27th. They set a “sell” rating and a $50.00 price objective on the stock. Finally, William Blair assumed coverage on Blackbaud in a report on Monday, July 11th. They set an “outperform” rating on the stock. Two research analysts have rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $70.90.

Blackbaud (NASDAQ:BLKB) opened at 63.76 on Thursday. The firm has a market capitalization of $2.94 billion, a PE ratio of 109.93 and a beta of 1.16. The company has a 50 day moving average price of $66.11 and a 200-day moving average price of $65.33. Blackbaud has a one year low of $49.89 and a one year high of $71.76.

Blackbaud (NASDAQ:BLKB) last announced its earnings results on Monday, August 1st. The company reported $0.46 EPS for the quarter, missing the consensus estimate of $0.50 by $0.04. The business earned $180.20 million during the quarter, compared to analyst estimates of $182.05 million. Blackbaud had a return on equity of 27.31% and a net margin of 3.97%. The firm’s revenue was up 15.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.41 earnings per share. On average, equities analysts predict that Blackbaud will post $1.92 EPS for the current year.

In related news, SVP Jon W. Olson sold 4,500 shares of the firm’s stock in a transaction dated Thursday, August 4th. The shares were sold at an average price of $66.88, for a total value of $300,960.00. Following the completion of the sale, the senior vice president now directly owns 33,404 shares in the company, valued at approximately $2,234,059.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Joyce Nelson sold 600 shares of the firm’s stock in a transaction dated Tuesday, August 23rd. The shares were sold at an average price of $68.11, for a total transaction of $40,866.00. Following the completion of the sale, the director now owns 15,254 shares of the company’s stock, valued at $1,038,949.94. 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. LS Investment Advisors LLC increased 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 valued at $115,000 after buying an additional 59 shares during the period. Invictus RG increased 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 valued at $120,000 after buying an additional 1,388 shares during the period. Tower Research Capital LLC TRC increased 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 valued at $124,000 after buying an additional 1,750 shares during the period. BlackRock Inc. increased 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 valued at $201,000 after buying an additional 1,052 shares during the period. Finally, Mariner Wealth Advisors LLC purchased a new stake in shares of Blackbaud during the first quarter valued at about $210,000.

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