Blackbaud (NASDAQ:BLKB) Upgraded to Buy by StockNews.com

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

Separately, Robert W. Baird cut their target price on shares of Blackbaud from $95.00 to $88.00 and set an outperform rating on the stock in a research report on Wednesday, February 14th.

Blackbaud Trading Down 0.4 %

BLKB stock opened at $77.95 on Friday. The company has a market capitalization of $4.03 billion, a PE ratio of 2,598.33 and a beta of 1.04. Blackbaud has a 12 month low of $64.32 and a 12 month high of $88.56. The firm’s 50-day moving average is $73.00 and its 200 day moving average is $76.43. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.78 and a quick ratio of 0.78.

Blackbaud (NASDAQ:BLKB) last posted its quarterly earnings results on Tuesday, February 13th. The technology company reported $1.14 EPS for the quarter, topping the consensus estimate of $1.05 by $0.09. The company had revenue of $295.01 million for the quarter, compared to the consensus estimate of $299.04 million. Blackbaud had a net margin of 0.16% and a return on equity of 14.59%. The firm’s revenue was up 7.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.28 EPS. On average, research analysts anticipate that Blackbaud will post 2.35 EPS for the current year.

Insider Buying and Selling at Blackbaud

In other Blackbaud news, CFO Anthony W. Boor sold 3,100 shares of the firm’s stock in a transaction dated Thursday, April 11th. The shares were sold at an average price of $79.48, for a total transaction of $246,388.00. Following the transaction, the chief financial officer now owns 158,268 shares of the company’s stock, valued at approximately $12,579,140.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO Anthony W. Boor sold 6,900 shares of the firm’s stock in a transaction dated Monday, April 15th. The shares were 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 in the company, valued at approximately $11,959,585.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Anthony W. Boor sold 3,100 shares of the firm’s stock in a transaction dated Thursday, April 11th. The shares were sold at an average price of $79.48, for a total transaction of $246,388.00. Following the completion of the sale, the chief financial officer now owns 158,268 shares in the company, valued at $12,579,140.64. The disclosure for this sale can be found here. In the last quarter, insiders have sold 59,897 shares of company stock valued at $4,377,015. Company insiders own 1.89% of the company’s stock.

Institutional Trading of Blackbaud

A number of institutional investors have recently modified their holdings of the company. Retirement Systems of Alabama boosted its holdings in shares of Blackbaud by 0.3% in the 4th quarter. Retirement Systems of Alabama now owns 53,958 shares of the technology company’s stock valued at $4,678,000 after buying an additional 163 shares in the last quarter. Franklin Resources Inc. boosted its holdings in shares of Blackbaud by 1.4% in the 4th quarter. Franklin Resources Inc. now owns 12,840 shares of the technology company’s stock valued at $1,113,000 after buying an additional 183 shares in the last quarter. Comerica Bank boosted its stake in Blackbaud by 0.9% in the 4th quarter. Comerica Bank now owns 20,671 shares of the technology company’s stock worth $1,792,000 after purchasing an additional 186 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Blackbaud by 3.1% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,192 shares of the technology company’s stock worth $797,000 after purchasing an additional 277 shares in the last quarter. Finally, Arizona State Retirement System boosted its stake in Blackbaud by 2.6% in the 3rd quarter. Arizona State Retirement System now owns 12,269 shares of the technology company’s stock worth $863,000 after purchasing an additional 311 shares in the last quarter. 94.21% of the stock is currently owned by institutional investors.

About Blackbaud

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.