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

Blackbaud (NASDAQ:BLKB) had its price target cut by equities research analysts at Robert W. Baird from $80.00 to $76.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “neutral” rating on the technology company’s stock. Robert W. Baird’s price target would suggest a potential upside of 7.10% from the stock’s current price.

Separately, Baird R W lowered shares of Blackbaud from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 31st. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $85.33.

Blackbaud Stock Performance

NASDAQ:BLKB opened at $70.96 on Wednesday. The company has a market capitalization of $3.49 billion, a P/E ratio of 69.57 and a beta of 1.08. The business has a fifty day simple moving average of $76.88 and a two-hundred day simple moving average of $80.37. The company has a debt-to-equity ratio of 1.79, a current ratio of 0.68 and a quick ratio of 0.68. Blackbaud has a 1 year low of $66.47 and a 1 year high of $88.95.

Blackbaud (NASDAQ:BLKB) last posted its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.58 earnings per share for the quarter, missing the consensus estimate of $1.08 by ($0.50). Blackbaud had a return on equity of 20.34% and a net margin of 4.61%. On average, analysts expect that Blackbaud will post 2.6 earnings per share for the current year.

Insider Buying and Selling

In other Blackbaud news, CEO Michael P. Gianoni sold 800 shares of the stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $83.15, for a total value of $66,520.00. Following the sale, the chief executive officer now directly owns 373,293 shares in the company, valued at $31,039,312.95. This represents a 0.21 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Anthony W. Boor sold 10,000 shares of Blackbaud stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $84.85, for a total value of $848,500.00. Following the sale, the chief financial officer now directly owns 140,262 shares of the company’s stock, valued at $11,901,230.70. This represents a 6.66 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 20,279 shares of company stock valued at $1,750,404. Corporate insiders own 1.95% of the company’s stock.

Institutional Investors Weigh In On Blackbaud

A number of institutional investors and hedge funds have recently bought and sold shares of BLKB. Vestcor Inc purchased a new stake in shares of Blackbaud during the 4th quarter valued at $75,000. TD Private Client Wealth LLC increased its stake in Blackbaud by 42.0% in the third quarter. TD Private Client Wealth LLC now owns 1,174 shares of the technology company’s stock valued at $99,000 after acquiring an additional 347 shares during the last quarter. KBC Group NV raised its position in Blackbaud by 33.9% during the fourth quarter. KBC Group NV now owns 1,676 shares of the technology company’s stock valued at $124,000 after purchasing an additional 424 shares in the last quarter. Blue Trust Inc. lifted its stake in Blackbaud by 190.4% during the third quarter. Blue Trust Inc. now owns 1,597 shares of the technology company’s stock worth $135,000 after purchasing an additional 1,047 shares during the last quarter. Finally, Huntington National Bank boosted its holdings in shares of Blackbaud by 13.9% in the 4th quarter. Huntington National Bank now owns 1,864 shares of the technology company’s stock worth $138,000 after purchasing an additional 227 shares in the last quarter. 94.21% of the stock is owned by hedge funds and other institutional investors.

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.