Blackbaud (NASDAQ:BLKB) Price Target Lowered to $76.00 at Robert W. Baird

Blackbaud (NASDAQ:BLKB) had its price target reduced by equities researchers at Robert W. Baird from $80.00 to $76.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “neutral” rating on the technology company’s stock. Robert W. Baird’s price target would indicate a potential upside of 7.10% from the company’s current price.

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

Blackbaud Price Performance

BLKB stock opened at $70.96 on Wednesday. The firm has a market cap of $3.49 billion, a P/E ratio of 69.57 and a beta of 1.08. The firm’s fifty day moving average is $76.88 and its 200 day moving average is $80.37. Blackbaud has a 52 week low of $66.47 and a 52 week high of $88.95. The company has a debt-to-equity ratio of 1.79, a quick ratio of 0.68 and a current ratio of 0.68.

Blackbaud (NASDAQ:BLKB) last announced its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.50). Blackbaud had a net margin of 4.61% and a return on equity of 20.34%. Research analysts predict that Blackbaud will post 2.6 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Michael P. Gianoni sold 9,479 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $88.13, for a total transaction of $835,384.27. Following the completion of the transaction, the chief executive officer now owns 344,079 shares in the company, valued at $30,323,682.27. This represents a 2.68 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Anthony W. Boor sold 10,000 shares of Blackbaud stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $84.85, for a total transaction of $848,500.00. Following the completion of the sale, the chief financial officer now owns 140,262 shares in the company, valued at approximately $11,901,230.70. This trade represents a 6.66 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 20,279 shares of company stock valued at $1,750,404 over the last ninety days. 1.95% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Blue Trust Inc. increased its position in shares of Blackbaud by 190.4% during the third quarter. Blue Trust Inc. now owns 1,597 shares of the technology company’s stock valued at $135,000 after buying an additional 1,047 shares during the period. Allspring Global Investments Holdings LLC boosted its position in Blackbaud by 20.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 320,058 shares of the technology company’s stock valued at $27,103,000 after acquiring an additional 54,138 shares in the last quarter. Angeles Wealth Management LLC purchased a new position in shares of Blackbaud during the 3rd quarter worth approximately $297,000. First Personal Financial Services raised its position in shares of Blackbaud by 25.9% in the 3rd quarter. First Personal Financial Services now owns 16,640 shares of the technology company’s stock worth $1,409,000 after acquiring an additional 3,424 shares in the last quarter. Finally, Legacy Capital Wealth Partners LLC lifted its stake in shares of Blackbaud by 94.9% in the 3rd quarter. Legacy Capital Wealth Partners LLC now owns 5,153 shares of the technology company’s stock valued at $436,000 after purchasing an additional 2,509 shares during the period. 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.