Blackbaud (NASDAQ:BLKB) Upgraded to “Hold” at Evercore ISI

Evercore ISI upgraded shares of Blackbaud (NASDAQ:BLKB) to a hold rating in a report published on Thursday, Zacks.com reports.

Several other research firms have also commented on BLKB. Robert W. Baird boosted their price target on shares of Blackbaud from $88.00 to $92.00 and gave the company an outperform rating in a report on Thursday. StockNews.com upgraded shares of Blackbaud from a hold rating to a buy rating in a research note on Wednesday, May 8th.

Blackbaud Trading Down 2.4 %

Shares of BLKB opened at $76.32 on Thursday. Blackbaud has a 1-year low of $64.32 and a 1-year high of $88.56. The company has a 50-day moving average of $77.16 and a 200 day moving average of $76.42. The firm has a market capitalization of $3.94 billion, a price-to-earnings ratio of 186.15 and a beta of 1.01. The company has a debt-to-equity ratio of 1.73, a current ratio of 0.80 and a quick ratio of 0.67.

Blackbaud (NASDAQ:BLKB) last announced its quarterly earnings data on Tuesday, July 30th. The technology company reported $1.08 earnings per share for the quarter, beating analysts’ consensus estimates of $1.04 by $0.04. Blackbaud had a net margin of 3.64% and a return on equity of 18.54%. The company had revenue of $287.29 million during the quarter, compared to analyst estimates of $289.26 million. During the same quarter last year, the business posted $0.49 EPS. The firm’s revenue for the quarter was up 6.0% on a year-over-year basis. On average, research analysts expect that Blackbaud will post 2.27 EPS for the current year.

Insider Buying and Selling

In other Blackbaud news, SVP Jon W. Olson sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $78.63, for a total transaction of $235,890.00. Following the sale, the senior vice president now owns 33,628 shares of the company’s stock, valued at approximately $2,644,169.64. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, SVP Jon W. Olson sold 3,000 shares of the company’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $78.63, for a total value of $235,890.00. Following the sale, the senior vice president now directly owns 33,628 shares of the company’s stock, valued at approximately $2,644,169.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP David J. Benjamin sold 16,700 shares of the company’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $77.81, for a total transaction of $1,299,427.00. Following the completion of the sale, the executive vice president now directly owns 74,458 shares in the company, valued at $5,793,576.98. The disclosure for this sale can be found here. Insiders sold a total of 32,476 shares of company stock worth $2,547,161 in the last 90 days. 1.95% of the stock is owned by corporate insiders.

Institutional Trading of Blackbaud

Hedge funds have recently added to or reduced their stakes in the company. SG Americas Securities LLC acquired a new position in Blackbaud during the first quarter worth $720,000. Campbell & CO Investment Adviser LLC raised its position in Blackbaud by 217.7% during the fourth quarter. Campbell & CO Investment Adviser LLC now owns 24,935 shares of the technology company’s stock worth $2,162,000 after acquiring an additional 17,086 shares during the period. Allspring Global Investments Holdings LLC raised its position in Blackbaud by 5.1% during the first quarter. Allspring Global Investments Holdings LLC now owns 264,816 shares of the technology company’s stock worth $19,633,000 after acquiring an additional 12,881 shares during the period. Norges Bank acquired a new position in Blackbaud during the fourth quarter worth $43,589,000. Finally, Envestnet Portfolio Solutions Inc. acquired a new position in Blackbaud during the fourth quarter worth $207,000. 94.21% of the stock is owned by hedge funds and other institutional investors.

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.