StockNews.com Downgrades Blackbaud (NASDAQ:BLKB) to Hold

Blackbaud (NASDAQ:BLKB - Get Free Report) was downgraded by investment analysts at StockNews.com from a "buy" rating to a "hold" rating in a note issued to investors on Friday.

Separately, Robert W. Baird lowered their price target on Blackbaud from $95.00 to $88.00 and set an "outperform" rating on the stock in a research note on Wednesday, February 14th.

Blackbaud Stock Performance

Shares of Blackbaud stock traded down $0.23 during trading on Friday, reaching $76.48. The company's stock had a trading volume of 331,206 shares, compared to its average volume of 285,154. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.78 and a current ratio of 0.78. The business's fifty day moving average price is $72.59 and its 200-day moving average price is $76.02. The firm has a market cap of $4.09 billion, a price-to-earnings ratio of 2,570.00, a price-to-earnings-growth ratio of 3.36 and a beta of 1.04. Blackbaud has a one year low of $64.32 and a one year high of $88.56.

Blackbaud (NASDAQ:BLKB - Get Free Report) last posted its quarterly earnings data on Tuesday, February 13th. The technology company reported $1.14 EPS for the quarter, topping analysts' consensus estimates of $1.05 by $0.09. Blackbaud had a return on equity of 14.59% and a net margin of 0.16%. The business had revenue of $295.01 million for the quarter, compared to analyst estimates of $299.04 million. During the same period in the previous year, the company posted $0.28 earnings per share. The firm's revenue for the quarter was up 7.4% on a year-over-year basis. As a group, equities research analysts predict that Blackbaud will post 2.35 earnings per share for the current year.

Insider Activity

In other news, CEO Michael P. Gianoni sold 25,354 shares of the company's stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $68.77, for a total value of $1,743,594.58. Following the sale, the chief executive officer now directly owns 357,104 shares in the company, valued at approximately $24,558,042.08. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CFO Anthony W. Boor sold 429 shares of the business's stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $74.00, for a total value of $31,746.00. Following the transaction, the chief financial officer now directly owns 161,368 shares of the company's stock, valued at approximately $11,941,232. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Michael P. Gianoni sold 25,354 shares of the business's stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $68.77, for a total value of $1,743,594.58. Following the completion of the transaction, the chief executive officer now directly owns 357,104 shares in the company, valued at $24,558,042.08. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 59,897 shares of company stock worth $4,377,015. Company insiders own 1.89% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Operose Advisors LLC acquired a new position in Blackbaud during the 3rd quarter worth $25,000. Russell Investments Group Ltd. acquired a new position in shares of Blackbaud in the 1st quarter valued at $35,000. FSC Wealth Advisors LLC acquired a new position in shares of Blackbaud in the 3rd quarter valued at $40,000. GAMMA Investing LLC acquired a new position in shares of Blackbaud in the 4th quarter valued at $64,000. Finally, Parallel Advisors LLC lifted its stake in shares of Blackbaud by 303.3% in the 4th quarter. Parallel Advisors LLC now owns 734 shares of the technology company's stock valued at $64,000 after purchasing an additional 552 shares during the period. 94.21% of the stock is owned by institutional investors and hedge funds.

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.