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Blackbaud (NASDAQ:BLKB) Stock Price Up 4.6% - Should You Buy?

Blackbaud logo with Computer and Technology background

Blackbaud, Inc. (NASDAQ:BLKB - Get Free Report)'s stock price was up 4.6% on Monday . The company traded as high as $63.92 and last traded at $64.31. Approximately 79,835 shares traded hands during trading, a decline of 67% from the average daily volume of 242,331 shares. The stock had previously closed at $61.50.

Analysts Set New Price Targets

Separately, Stifel Nicolaus lowered their price objective on shares of Blackbaud from $75.00 to $65.00 and set a "hold" rating on the stock in a research note on Thursday, May 1st. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $78.67.

View Our Latest Analysis on Blackbaud

Blackbaud Stock Performance

The stock has a market capitalization of $3.12 billion, a price-to-earnings ratio of -10.89, a PEG ratio of 4.77 and a beta of 1.14. The stock's 50 day moving average is $62.57 and its 200 day moving average is $67.96. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 35.64.

Blackbaud (NASDAQ:BLKB - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The technology company reported $0.96 EPS for the quarter, beating analysts' consensus estimates of $0.90 by $0.06. The firm had revenue of $270.66 million for the quarter, compared to analysts' expectations of $268.53 million. Blackbaud had a negative net margin of 25.05% and a positive return on equity of 38.58%. The firm's revenue was down 3.1% on a year-over-year basis. During the same period in the prior year, the company earned $0.93 EPS. On average, analysts predict that Blackbaud, Inc. will post 3.05 earnings per share for the current year.

Insider Buying and Selling at Blackbaud

In other Blackbaud news, CFO Chad Anderson sold 5,500 shares of the company's stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $63.99, for a total value of $351,945.00. Following the transaction, the chief financial officer now directly owns 35,976 shares in the company, valued at approximately $2,302,104.24. This represents a 13.26% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Jon W. Olson sold 10,698 shares of the company's stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $61.15, for a total transaction of $654,182.70. Following the completion of the transaction, the senior vice president now owns 23,799 shares in the company, valued at approximately $1,455,308.85. This trade represents a 31.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.97% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Versant Capital Management Inc lifted its holdings in shares of Blackbaud by 127.4% during the 1st quarter. Versant Capital Management Inc now owns 523 shares of the technology company's stock worth $32,000 after acquiring an additional 293 shares during the period. UMB Bank n.a. lifted its holdings in shares of Blackbaud by 63.2% during the 1st quarter. UMB Bank n.a. now owns 692 shares of the technology company's stock worth $43,000 after acquiring an additional 268 shares during the period. Vestcor Inc purchased a new position in shares of Blackbaud during the 4th quarter worth about $75,000. KBC Group NV lifted its holdings in shares of Blackbaud by 31.8% during the 1st quarter. KBC Group NV now owns 2,209 shares of the technology company's stock worth $137,000 after acquiring an additional 533 shares during the period. Finally, Huntington National Bank lifted its holdings in shares of Blackbaud by 13.9% during the 4th quarter. Huntington National Bank now owns 1,864 shares of the technology company's stock worth $138,000 after acquiring an additional 227 shares during the period. 94.21% of the stock is currently owned by hedge funds and other institutional investors.

About Blackbaud

(Get Free Report)

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.

Further Reading

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