Blackbaud (NASDAQ:BLKB) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Blackbaud (NASDAQ:BLKB) from a hold rating to a buy rating in a research report sent to investors on Sunday.

Other analysts have also issued research reports about the stock. Stifel Nicolaus set a $70.00 price objective on shares of Blackbaud in a research report on Wednesday, October 29th. Zacks Research upgraded Blackbaud from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 3rd. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Blackbaud in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $73.00.

Blackbaud Stock Up 0.1%

Shares of NASDAQ BLKB opened at $58.78 on Friday. Blackbaud has a 12-month low of $56.22 and a 12-month high of $88.95. The firm’s 50-day simple moving average is $64.58 and its 200 day simple moving average is $64.07. The company has a quick ratio of 0.84, a current ratio of 0.69 and a debt-to-equity ratio of 9.63. The company has a market cap of $2.81 billion, a price-to-earnings ratio of -11.30, a price-to-earnings-growth ratio of 4.75 and a beta of 1.08.

Blackbaud (NASDAQ:BLKB) last posted its quarterly earnings data on Monday, March 4th. The technology company reported $0.68 earnings per share for the quarter. Blackbaud had a negative net margin of 22.57% and a positive return on equity of 137.13%. The firm had revenue of $274.76 million during the quarter. On average, research analysts expect that Blackbaud will post 3.05 earnings per share for the current fiscal year.

Insider Activity at Blackbaud

In other news, CEO Michael P. Gianoni sold 5,000 shares of the stock in a transaction on Thursday, November 6th. The stock was sold at an average price of $57.68, for a total value of $288,400.00. Following the transaction, the chief executive officer owned 372,985 shares of the company’s stock, valued at $21,513,774.80. This represents a 1.32% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 1.97% of the company’s stock.

Institutional Investors Weigh In On Blackbaud

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Triodos Investment Management BV boosted its holdings in Blackbaud by 8.0% during the third quarter. Triodos Investment Management BV now owns 54,000 shares of the technology company’s stock worth $3,470,000 after buying an additional 4,000 shares during the last quarter. SG Capital Management LLC increased its stake in shares of Blackbaud by 777.3% in the 3rd quarter. SG Capital Management LLC now owns 598,547 shares of the technology company’s stock valued at $38,493,000 after acquiring an additional 530,320 shares during the last quarter. First National Bank of Omaha acquired a new stake in shares of Blackbaud in the 3rd quarter valued at approximately $1,886,000. Summitry LLC raised its position in shares of Blackbaud by 15.8% in the 3rd quarter. Summitry LLC now owns 4,167 shares of the technology company’s stock valued at $268,000 after acquiring an additional 567 shares during the period. Finally, Vanguard Group Inc. boosted its stake in Blackbaud by 14.7% during the 3rd quarter. Vanguard Group Inc. now owns 5,516,432 shares of the technology company’s stock worth $354,762,000 after acquiring an additional 706,695 shares during the last quarter. 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.