November 23, 2016 - By Michael Collier
Equities researchers at BofA Merrill’s equity division lowered Blackbaud (NASDAQ:BLKB)‘s stock rating from “Neutral” to “Underperform” on Wednesday, 23 November.
Out of 9 analysts covering Blackbaud Inc (NASDAQ:BLKB), 6 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 67% are positive. $75 is the highest target while $66 is the lowest. The $73.20 average target is 12.37% above today’s ($65.14) stock price. Blackbaud Inc has been the topic of 11 analyst reports since October 13, 2015 according to StockzIntelligence Inc. Evercore initiated the stock with “Hold” rating in Monday, June 27 report. The firm has “Buy” rating given on Thursday, June 30 by Stifel Nicolaus. The rating was initiated by Pacific Crest on Tuesday, March 22 with “Sector Weight”. As per Thursday, November 19, the company rating was initiated by Benchmark. The rating was initiated by B. Riley & Co on Tuesday, October 13 with “Neutral”. Wunderlich initiated the stock with “Buy” rating in Thursday, February 18 report. Robert W. Baird initiated it with “Outperform” rating and $75 target price in Thursday, December 10 report. The stock has “Neutral” rating given by Bank of America on Wednesday, January 6.
About 135,142 shares traded hands. Blackbaud, Inc. (NASDAQ:BLKB) has risen 6.06% since April 21, 2016 and is uptrending. It has outperformed by 0.73% the S&P500.
Insitutional Activity: The institutional sentiment increased to 1.38 in 2016 Q2. Its up 0.27, from 1.11 in 2016Q1. The ratio is positive, as 26 funds sold all Blackbaud, Inc. shares owned while 63 reduced positions. 24 funds bought stakes while 75 increased positions. They now own 47.90 million shares or 2.69% less from 49.23 million shares in 2016Q1.
Smith & Howard Wealth Mngmt Ltd Liability has 71,563 shares for 2.33% of their US portfolio. Teachers last reported 116,577 shares in the company. Diam last reported 0.1% of its portfolio in the stock. Royal Fincl Bank Of Canada owns 16,131 shares or 0% of their US portfolio. Td Asset, a Ontario – Canada-based fund reported 3,900 shares. Renaissance Tech Limited Liability reported 87,700 shares or 0.01% of all its holdings. Bridgeway Capital Mngmt Inc holds 3,700 shares or 0% of its portfolio. Ladenburg Thalmann Fincl Serv Inc has 0% invested in the company for 423 shares. Moreover, First Manhattan Co has 0% invested in Blackbaud, Inc. (NASDAQ:BLKB) for 866 shares. Arizona State Retirement has invested 0.02% of its portfolio in Blackbaud, Inc. (NASDAQ:BLKB). Fdx Advsrs Incorporated has invested 0.05% of its portfolio in Blackbaud, Inc. (NASDAQ:BLKB). Pnc Services Group Inc Inc accumulated 0% or 12,887 shares. Thrivent Fincl For Lutherans has 0.01% invested in the company for 23,170 shares. Deutsche Financial Bank Ag has 52,913 shares for 0% of their US portfolio. State Board Of Administration Of Florida Retirement last reported 29,120 shares in the company.
Insider Transactions: Since May 24, 2016, the stock had 0 insider buys, and 14 sales for $3.79 million net activity. Nelson Joyce had sold 1,000 shares worth $64,690 on Tuesday, November 15. ELLIS GEORGE H sold 1,500 shares worth $102,150. 4,319 Blackbaud, Inc. (NASDAQ:BLKB) shares with value of $262,811 were sold by MOONEY KEVIN W. 4,764 shares were sold by Cumbaa Charles T, worth $304,896 on Thursday, June 2. 11,500 Blackbaud, Inc. (NASDAQ:BLKB) shares with value of $768,660 were sold by Gianoni Michael P. The insider MISTRETTA JOHN J sold $243,556. Olson Jon W had sold 4,500 shares worth $300,960.
Blackbaud, Inc. is a provider of software and services for the global philanthropic community. The company has a market cap of $3.14 billion. The Company’s divisions include the General Markets Business Unit , the Enterprise Customer Business Unit (the ECBU) and the International Business Unit (the IBU). It has a 100.41 P/E ratio. The GMBU is focused on marketing, sales, delivery and support to all emerging and mid-sized prospects and clients in North America.
According to Zacks Investment Research, “Blackbaud is the leading global provider of software and related services designed specifically for nonprofit organizations. Blackbaud’s solutions include The Raiser’s Edge, The Financial Edge, The Education Edge, The Information Edge, WealthPoint and ProspectPoint, as well as a wide range of consulting and educational services. Blackbaud has operations in Toronto, Ontario, Glasgow, Scotland, and Sydney, Australia.”
Blackbaud, Inc., incorporated on March 22, 2004, is a well-known provider of software and services for the global philanthropic community. The Company’s divisions include the General Markets Business Unit (the GMBU), the Enterprise Customer Business Unit (the ECBU) and the International Business Unit (the IBU). The GMBU is focused on marketing, sales, delivery and support to all emerging and mid-sized prospects and clients in North America. The ECBU is focused on marketing, sales, delivery and support to all large and/or strategic prospects and clients in North America. The IBU is focused on marketing, sales, delivery and support to all prospects and clients outside of North America. It operates in four geographic regions: United States, Canada, Europe and Australia. The Company’s clients use its cloud and on-premises software solutions and related services to help manage donations, fundraising costs, communications with constituents and manage their finances. The Company’s solutions are designed to meet the needs of non-profits, foundations and other charitable giving organizations, and academic institutions, from large, multi-national organizations to small, emerging entities.
More important recent Blackbaud, Inc. (NASDAQ:BLKB) news were published by: Fool.com which released: “Blackbaud, Inc. Delivers “Sky” High Revenue Growth” on April 28, 2016, also Fool.com published article titled: “Blackbaud, Inc. Earnings Continue to Soar Into the Cloud”, Nasdaq.com published: “Blackbaud, Inc. (BLKB) Ex-Dividend Date Scheduled for November 21, 2016” on November 18, 2016. More interesting news about Blackbaud, Inc. (NASDAQ:BLKB) was released by: Prnewswire.com and their article: “Blackbaud Announces Keynote Speakers for 17th Annual Conference for the Social …” with publication date: October 17, 2016.
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