Weiss Ratings Reiterates Sell (D) Rating for Blackbaud (NASDAQ:BLKB)

Key Points

• Weiss Ratings has reiterated a "sell" rating for Blackbaud (NASDAQ:BLKB), while other brokerages like Wall Street Zen have recently upgraded their rating from "hold" to "buy."
• Blackbaud's stock has a current trading price of $65.18, with an average target price of $70.50 and a consensus rating of "Reduce."
• Institutional investors own over 94% of Blackbaud's stock, with significant recent increases in holdings from firms like State of Alaska Department of Revenue and Tributary Capital Management LLC.

Blackbaud (NASDAQ:BLKB - Get Free Report)'s stock had its "sell (d)" rating restated by analysts at Weiss Ratings in a research note issued to investors on Friday,Weiss Ratings reports.

Several other brokerages also recently weighed in on BLKB. Wall Street Zen raised shares of Blackbaud from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. Stifel Nicolaus cut their target price on shares of Blackbaud from $75.00 to $65.00 and set a "hold" rating on the stock in a research note on Wednesday, October 8th. Three equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Reduce" and an average target price of $70.50.

Blackbaud Trading Up 0.7%

Shares of Blackbaud stock traded up $0.47 on Friday, reaching $65.18. The company had a trading volume of 167,493 shares, compared to its average volume of 299,711. The firm's 50 day moving average price is $65.41 and its two-hundred day moving average price is $63.94. The firm has a market cap of $3.16 billion, a PE ratio of -11.28, a PEG ratio of 4.50 and a beta of 1.11. Blackbaud has a 52-week low of $58.05 and a 52-week high of $88.95. The company has a debt-to-equity ratio of 12.92, a quick ratio of 0.84 and a current ratio of 0.84.

Blackbaud (NASDAQ:BLKB - Get Free Report) last released its quarterly earnings results on Monday, March 4th. The technology company reported $0.68 earnings per share (EPS) for the quarter. Blackbaud had a negative net margin of 24.82% and a positive return on equity of 61.72%. The business had revenue of $274.76 million for the quarter. Sell-side analysts predict that Blackbaud will post 3.05 earnings per share for the current fiscal year.

Insider Activity at Blackbaud

In other Blackbaud news, EVP Kevin P. Gregoire sold 8,000 shares of the business's stock in a transaction that occurred on Wednesday, July 30th. The shares were sold at an average price of $72.67, for a total transaction of $581,360.00. Following the completion of the transaction, the executive vice president owned 111,156 shares in the company, valued at $8,077,706.52. The trade was a 6.71% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Rupal S. Hollenbeck sold 2,500 shares of the company's stock in a transaction on Friday, August 8th. The shares were sold at an average price of $63.98, for a total transaction of $159,950.00. Following the completion of the transaction, the director owned 7,966 shares of the company's stock, valued at approximately $509,664.68. The trade was a 23.89% decrease in their position. The disclosure for this sale can be found here. Insiders own 1.97% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. State of Alaska Department of Revenue boosted its holdings in shares of Blackbaud by 50.1% in the 3rd quarter. State of Alaska Department of Revenue now owns 6,356 shares of the technology company's stock valued at $408,000 after buying an additional 2,122 shares in the last quarter. Tributary Capital Management LLC boosted its holdings in shares of Blackbaud by 89.7% in the 3rd quarter. Tributary Capital Management LLC now owns 503,742 shares of the technology company's stock valued at $32,396,000 after buying an additional 238,251 shares in the last quarter. SG Americas Securities LLC boosted its holdings in shares of Blackbaud by 545.0% in the 3rd quarter. SG Americas Securities LLC now owns 20,577 shares of the technology company's stock valued at $1,323,000 after buying an additional 17,387 shares in the last quarter. CWM LLC boosted its holdings in shares of Blackbaud by 419.9% in the 3rd quarter. CWM LLC now owns 2,381 shares of the technology company's stock valued at $153,000 after buying an additional 1,923 shares in the last quarter. Finally, Pacer Advisors Inc. acquired a new position in shares of Blackbaud in the 3rd quarter valued at $318,000. Institutional investors and hedge funds 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.

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