Blackbaud (NASDAQ:BLKB) Given New $76.00 Price Target at Robert W. Baird

Blackbaud (NASDAQ:BLKB) had its target price cut by Robert W. Baird from $80.00 to $76.00 in a report issued on Wednesday,Benzinga reports. They currently have a neutral rating on the technology company’s stock.

Separately, Baird R W lowered Blackbaud from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 31st. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $85.33.

Blackbaud Stock Up 3.1 %

Shares of NASDAQ:BLKB opened at $68.24 on Wednesday. The company has a market capitalization of $3.36 billion, a price-to-earnings ratio of -11.57 and a beta of 1.08. The company has a 50 day moving average of $76.14 and a two-hundred day moving average of $80.15. Blackbaud has a 52-week low of $66.07 and a 52-week high of $88.95. The company has a quick ratio of 0.68, a current ratio of 0.78 and a debt-to-equity ratio of 7.40.

Blackbaud (NASDAQ:BLKB) last released its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.58 earnings per share for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.50). Blackbaud had a negative net margin of 24.83% and a positive return on equity of 26.30%. The firm had revenue of $302.23 million for the quarter, compared to analyst estimates of $303.41 million. As a group, analysts forecast that Blackbaud will post 3.05 earnings per share for the current fiscal year.

Insider Buying and Selling at Blackbaud

In other news, CEO Michael P. Gianoni sold 9,479 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $88.13, for a total value of $835,384.27. Following the sale, the chief executive officer now owns 344,079 shares in the company, valued at approximately $30,323,682.27. This represents a 2.68 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.95% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Blackbaud

Hedge funds have recently bought and sold shares of the company. Janus Henderson Group PLC raised its stake in Blackbaud by 1.2% during the fourth quarter. Janus Henderson Group PLC now owns 2,885,062 shares of the technology company’s stock valued at $213,263,000 after buying an additional 34,600 shares in the last quarter. State Street Corp increased its holdings in shares of Blackbaud by 3.5% in the 3rd quarter. State Street Corp now owns 1,647,284 shares of the technology company’s stock valued at $139,492,000 after acquiring an additional 56,090 shares during the last quarter. ArrowMark Colorado Holdings LLC raised its position in shares of Blackbaud by 3.6% during the 4th quarter. ArrowMark Colorado Holdings LLC now owns 1,329,308 shares of the technology company’s stock valued at $98,262,000 after acquiring an additional 45,835 shares in the last quarter. Geneva Capital Management LLC lifted its stake in Blackbaud by 0.4% during the third quarter. Geneva Capital Management LLC now owns 1,175,493 shares of the technology company’s stock worth $99,541,000 after purchasing an additional 4,122 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in Blackbaud by 0.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,019,923 shares of the technology company’s stock worth $75,393,000 after purchasing an additional 3,119 shares during the period. 94.21% of the stock is currently owned by institutional investors and hedge funds.

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.