Blackbaud (NASDAQ:BLKB) Upgraded to “Hold” at Evercore ISI

Evercore ISI upgraded shares of Blackbaud (NASDAQ:BLKB) to a hold rating in a research note published on Thursday, Zacks.com reports.

Other equities analysts have also recently issued research reports about the stock. Robert W. Baird lifted their target price on shares of Blackbaud from $88.00 to $92.00 and gave the stock an outperform rating in a research report on Thursday. StockNews.com upgraded shares of Blackbaud from a hold rating to a buy rating in a research report on Wednesday, May 8th.

Blackbaud Stock Down 2.4 %

BLKB stock opened at $76.32 on Thursday. The company has a market cap of $3.94 billion, a P/E ratio of 186.15 and a beta of 1.01. Blackbaud has a 52 week low of $64.32 and a 52 week high of $88.56. The company’s 50-day moving average price is $77.16 and its 200 day moving average price is $76.42. The company has a current ratio of 0.80, a quick ratio of 0.67 and a debt-to-equity ratio of 1.73.

Blackbaud (NASDAQ:BLKB) last announced its earnings results on Tuesday, July 30th. The technology company reported $1.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.04 by $0.04. The company had revenue of $287.29 million during the quarter, compared to analysts’ expectations of $289.26 million. Blackbaud had a net margin of 3.64% and a return on equity of 18.54%. The firm’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.49 earnings per share. On average, research analysts expect that Blackbaud will post 2.27 earnings per share for the current fiscal year.

Insider Activity

In other news, SVP Jon W. Olson sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $78.63, for a total value of $235,890.00. Following the completion of the transaction, the senior vice president now owns 33,628 shares of the company’s stock, valued at $2,644,169.64. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, SVP Jon W. Olson sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $78.63, for a total transaction of $235,890.00. Following the completion of the transaction, the senior vice president now owns 33,628 shares of the company’s stock, valued at $2,644,169.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP David J. Benjamin sold 16,700 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $77.81, for a total transaction of $1,299,427.00. Following the transaction, the executive vice president now directly owns 74,458 shares of the company’s stock, valued at approximately $5,793,576.98. The disclosure for this sale can be found here. Insiders sold a total of 32,476 shares of company stock valued at $2,547,161 over the last 90 days. Insiders own 1.95% of the company’s stock.

Hedge Funds Weigh In On Blackbaud

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Raymond James & Associates purchased a new stake in Blackbaud during the fourth quarter worth approximately $562,000. Louisiana State Employees Retirement System purchased a new stake in Blackbaud during the fourth quarter worth approximately $1,049,000. Mackenzie Financial Corp grew its stake in Blackbaud by 27.9% during the fourth quarter. Mackenzie Financial Corp now owns 24,139 shares of the technology company’s stock worth $2,093,000 after buying an additional 5,260 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Blackbaud by 3.1% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,192 shares of the technology company’s stock valued at $797,000 after purchasing an additional 277 shares during the period. Finally, Handelsbanken Fonder AB boosted its stake in shares of Blackbaud by 30.4% in the fourth quarter. Handelsbanken Fonder AB now owns 7,730 shares of the technology company’s stock valued at $670,000 after purchasing an additional 1,800 shares during the period. Institutional investors and hedge funds own 94.21% of the company’s stock.

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.