Blackbaud (NASDAQ:BLKB) Downgraded by StockNews.com

StockNews.com lowered shares of Blackbaud (NASDAQ:BLKB) from a buy rating to a hold rating in a report issued on Friday morning.

Separately, Robert W. Baird reduced their price objective on Blackbaud from $95.00 to $88.00 and set an outperform rating on the stock in a research note on Wednesday, February 14th.

Blackbaud Trading Down 0.3 %

NASDAQ BLKB opened at $76.48 on Friday. The stock’s 50-day simple moving average is $72.48 and its two-hundred day simple moving average is $76.07. Blackbaud has a twelve month low of $64.32 and a twelve month high of $88.56. The company has a market capitalization of $4.09 billion, a price-to-earnings ratio of 2,549.33, a PEG ratio of 3.36 and a beta of 1.04. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.94.

Blackbaud (NASDAQ:BLKB) last announced its quarterly earnings data on Tuesday, February 13th. The technology company reported $1.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.05 by $0.09. Blackbaud had a return on equity of 14.59% and a net margin of 0.16%. The firm had revenue of $295.01 million for the quarter, compared to analysts’ expectations of $299.04 million. During the same period last year, the firm earned $0.28 earnings per share. The company’s revenue for the quarter was up 7.4% compared to the same quarter last year. Research analysts forecast that Blackbaud will post 2.35 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Anthony W. Boor sold 6,900 shares of the firm’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $79.01, for a total value of $545,169.00. Following the sale, the chief financial officer now directly owns 151,368 shares of the company’s stock, valued at $11,959,585.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Blackbaud news, CFO Anthony W. Boor sold 4,955 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $74.06, for a total transaction of $366,967.30. Following the transaction, the chief financial officer now owns 166,413 shares in the company, valued at approximately $12,324,546.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Anthony W. Boor sold 6,900 shares of the company’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $79.01, for a total value of $545,169.00. Following the transaction, the chief financial officer now owns 151,368 shares in the company, valued at approximately $11,959,585.68. The disclosure for this sale can be found here. Insiders have sold 59,897 shares of company stock valued at $4,377,015 over the last ninety days. 1.89% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Operose Advisors LLC bought a new stake in shares of Blackbaud in the 3rd quarter worth approximately $25,000. Russell Investments Group Ltd. bought a new stake in shares of Blackbaud in the 1st quarter worth approximately $35,000. FSC Wealth Advisors LLC bought a new stake in shares of Blackbaud in the 3rd quarter worth approximately $40,000. GAMMA Investing LLC bought a new stake in shares of Blackbaud in the 4th quarter worth approximately $64,000. Finally, Parallel Advisors LLC boosted its position in shares of Blackbaud by 303.3% in the 4th quarter. Parallel Advisors LLC now owns 734 shares of the technology company’s stock worth $64,000 after purchasing an additional 552 shares in the last quarter. Hedge funds and other institutional investors own 94.21% of the company’s stock.

Blackbaud Company Profile

Blackbaud, Inc provides cloud software solutions to nonprofits, foundations, education institutions, and healthcare organizations in the United States and internationally. The company offers fundraising and engagement solutions, such as Blackbaud Raiser's Edge NXT, Blackbaud CRM, Blackbaud eTapestry, Blackbaud Luminate Online, Blackbaud TeamRaiser, JustGiving, Blackbaud Fundraiser Performance Management, Blackbaud Guided Fundraising, and Blackbaud Altru; and financial management solutions comprising Blackbaud Financial Edge NXT, Blackbaud Tuition Management, and Blackbaud Financial Aid and Billing Management.