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

Blackbaud (NASDAQ:BLKB) had its price objective trimmed by Robert W. Baird from $80.00 to $76.00 in a research report released on Wednesday morning,Benzinga reports. The brokerage currently has a neutral rating on the technology company’s stock.

Separately, Baird R W downgraded shares of 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 assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $85.33.

Blackbaud Stock Up 3.1 %

BLKB stock opened at $68.24 on Wednesday. Blackbaud has a one year low of $66.07 and a one year high of $88.95. The stock has a market capitalization of $3.36 billion, a P/E ratio of -11.57 and a beta of 1.08. The company has a 50 day moving average price of $76.14 and a two-hundred day moving average price of $80.15. The company has a debt-to-equity ratio of 7.40, a quick ratio of 0.68 and a current ratio of 0.78.

Blackbaud (NASDAQ:BLKB) last announced its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.58 EPS for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.50). Blackbaud had a negative net margin of 24.83% and a positive return on equity of 26.30%. The business had revenue of $302.23 million during the quarter, compared to analysts’ expectations of $303.41 million. As a group, sell-side analysts expect that Blackbaud will post 3.05 EPS for the current year.

Insider Buying and Selling

In other Blackbaud news, CEO Michael P. Gianoni sold 9,479 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer now owns 344,079 shares of the company’s stock, valued at approximately $30,323,682.27. The trade was a 2.68 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.95% of the company’s stock.

Hedge Funds Weigh In On Blackbaud

Hedge funds and other institutional investors have recently modified their holdings of the company. Vestcor Inc acquired a new stake in Blackbaud during the 4th quarter worth approximately $75,000. TD Private Client Wealth LLC grew its stake in Blackbaud by 42.0% during the third quarter. TD Private Client Wealth LLC now owns 1,174 shares of the technology company’s stock worth $99,000 after buying an additional 347 shares during the period. KBC Group NV increased its position in shares of Blackbaud by 33.9% in the fourth quarter. KBC Group NV now owns 1,676 shares of the technology company’s stock worth $124,000 after acquiring an additional 424 shares in the last quarter. Blue Trust Inc. raised its stake in shares of Blackbaud by 190.4% in the 3rd quarter. Blue Trust Inc. now owns 1,597 shares of the technology company’s stock valued at $135,000 after acquiring an additional 1,047 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 valued at $138,000 after acquiring an additional 227 shares in the last quarter. 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.