Blackbaud, Inc. (NASDAQ:BLKB) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Blackbaud, Inc. (NASDAQ:BLKB) have received an average recommendation of “Hold” from the five brokerages that are covering the stock, Marketbeat reports. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $85.33.

Separately, Robert W. Baird decreased their price objective on shares of Blackbaud from $80.00 to $76.00 and set a “neutral” rating for the company in a research note on Wednesday, February 19th.

Blackbaud Trading Up 5.1 %

NASDAQ BLKB opened at $62.04 on Thursday. Blackbaud has a 12-month low of $58.05 and a 12-month high of $88.95. The company has a fifty day simple moving average of $67.51 and a two-hundred day simple moving average of $76.00. The company has a current ratio of 0.78, a quick ratio of 0.68 and a debt-to-equity ratio of 7.40. The stock has a market cap of $3.05 billion, a P/E ratio of -10.52 and a beta of 1.04.

Blackbaud (NASDAQ:BLKB) last announced its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.58 earnings per share 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 firm had revenue of $302.23 million during the quarter, compared to analyst estimates of $303.41 million. On average, analysts forecast that Blackbaud will post 3.05 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Teachers Retirement System of The State of Kentucky increased its holdings in shares of Blackbaud by 52.0% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 56,336 shares of the technology company’s stock valued at $4,770,000 after purchasing an additional 19,270 shares in the last quarter. Entropy Technologies LP purchased a new position in Blackbaud in the fourth quarter valued at $377,000. JPMorgan Chase & Co. boosted its stake in shares of Blackbaud by 3.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 225,634 shares of the technology company’s stock worth $19,107,000 after acquiring an additional 7,097 shares in the last quarter. Tributary Capital Management LLC grew its position in shares of Blackbaud by 1.3% during the 4th quarter. Tributary Capital Management LLC now owns 293,148 shares of the technology company’s stock valued at $21,670,000 after acquiring an additional 3,739 shares during the period. Finally, Cibc World Markets Corp purchased a new position in shares of Blackbaud in the 4th quarter valued at about $280,000. 94.21% of the stock is owned by institutional investors and hedge funds.

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.