Blackbaud (BLKB) Lowered to Market Perform at JMP Securities

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JMP Securities downgraded shares of Blackbaud (NASDAQ:BLKB) from an outperform rating to a market perform rating in a research note released on Tuesday morning, Marketbeat.com reports. They currently have $116.00 target price on the technology company’s stock.

Other analysts have also issued reports about the stock. Raymond James lowered shares of Blackbaud from an outperform rating to a market perform rating in a report on Tuesday. William Blair lowered shares of Blackbaud from an outperform rating to a market perform rating in a report on Tuesday, July 31st. BidaskClub lowered shares of Blackbaud from a buy rating to a hold rating in a report on Tuesday. Needham & Company LLC assumed coverage on shares of Blackbaud in a report on Wednesday, July 18th. They issued a hold rating on the stock. Finally, KeyCorp assumed coverage on shares of Blackbaud in a report on Monday, July 23rd. They issued a sector weight rating on the stock. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average price target of $98.50.

Shares of BLKB stock opened at $74.08 on Tuesday. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.77 and a current ratio of 0.77. The stock has a market cap of $4.93 billion, a PE ratio of 46.19, a PEG ratio of 4.69 and a beta of 0.62. Blackbaud has a twelve month low of $69.62 and a twelve month high of $120.35.

Blackbaud (NASDAQ:BLKB) last announced its quarterly earnings results on Monday, July 30th. The technology company reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.02. The firm had revenue of $214.60 million for the quarter, compared to analysts’ expectations of $214.80 million. Blackbaud had a net margin of 8.14% and a return on equity of 27.70%. The company’s revenue was up 11.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.54 EPS. As a group, analysts forecast that Blackbaud will post 1.91 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 14th. Investors of record on Tuesday, August 28th were issued a $0.12 dividend. The ex-dividend date of this dividend was Monday, August 27th. This represents a $0.48 annualized dividend and a yield of 0.65%. Blackbaud’s dividend payout ratio (DPR) is currently 30.19%.

In other Blackbaud news, Director Andrew M. Leitch sold 3,000 shares of the business’s stock in a transaction dated Friday, August 10th. The shares were sold at an average price of $95.72, for a total transaction of $287,160.00. Following the sale, the director now directly owns 24,457 shares in the company, valued at $2,341,024.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director George H. Ellis sold 2,652 shares of the business’s stock in a transaction dated Monday, August 13th. The stock was sold at an average price of $96.16, for a total transaction of $255,016.32. Following the sale, the director now owns 7,730 shares in the company, valued at $743,316.80. The disclosure for this sale can be found here. 1.55% of the stock is currently owned by insiders.

Large investors have recently modified their holdings of the business. Smithfield Trust Co. increased its stake in Blackbaud by 2,492.5% during the second quarter. Smithfield Trust Co. now owns 1,037 shares of the technology company’s stock worth $106,000 after purchasing an additional 997 shares during the period. Flagship Harbor Advisors LLC purchased a new stake in Blackbaud during the second quarter worth about $129,000. Global X Management Co LLC purchased a new stake in Blackbaud during the second quarter worth about $163,000. First Republic Investment Management Inc. purchased a new stake in Blackbaud during the second quarter worth about $261,000. Finally, ING Groep NV purchased a new stake in Blackbaud during the second quarter worth about $270,000.

Blackbaud Company Profile

Blackbaud, Inc provides cloud software solutions to nonprofits, foundations, corporations, education institutions, healthcare organizations, and other charitable giving entities primarily in the United States, Canada, the United Kingdom, and Australia. The company offers Raiser's Edge NXT and Blackbaud CRM (constituent relationship management), which are fundraising and relationship management solutions; Luminate CRM for campaign management, constituent relations, business intelligence, and analytics; eTapestry, a cloud fundraising and donor management solution; everydayhero, a cloud crowdfundraising solution; and JustGiving, a social platform for giving.

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Analyst Recommendations for Blackbaud (NASDAQ:BLKB)

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