Rating Buzzer: BofA Merrill Gives Blackbaud (BLKB) Lower Rating. Lost Its “Neutral” Rating

November 23, 2016 - By Clifton Ray

Rating Buzzer: BofA Merrill Gives Blackbaud (BLKB) Lower Rating. Lost Its

Blackbaud (BLKB) Downgrade

BofA Merrill gave Blackbaud (BLKB) shares a new “Underperform” rating in a analysts report issued on 23 November. This is downgrade from the last “Neutral” rating.

About 120,216 shares traded hands. Blackbaud, Inc. (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 Q2 2016. Its up 0.27, from 1.11 in 2016Q1. The ratio increased, 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.

Mesirow Fincl Investment accumulated 1.32% or 332,971 shares. Metropolitan Life Ins Ny last reported 0.02% of its portfolio in the stock. Louisiana State Employees Retirement Sys last reported 0.08% of its portfolio in the stock. Assetmark has invested 0% of its portfolio in Blackbaud, Inc. (NASDAQ:BLKB). Hsbc Hldg Plc last reported 0% of its portfolio in the stock. Contravisory Inv Mngmt accumulated 0.06% or 2,650 shares. Moreover, Dimensional Fund L P has 0.03% invested in Blackbaud, Inc. (NASDAQ:BLKB) for 881,581 shares. The Ohio-based Huntington Retail Bank has invested 0.01% in Blackbaud, Inc. (NASDAQ:BLKB). Conestoga Cap Advisors Lc has 3.31% invested in the company for 659,661 shares. Cortina Asset Mngmt Ltd Co accumulated 259,274 shares or 0.8% of the stock. The United Kingdom-based Blackrock Grp Inc Ltd has invested 0% in Blackbaud, Inc. (NASDAQ:BLKB). Pioneer Inv Mgmt Inc has 142,838 shares for 0.04% of their US portfolio. The New Jersey-based Blackrock Inv Lc has invested 0.02% in Blackbaud, Inc. (NASDAQ:BLKB). Paloma Ptnrs Mngmt last reported 0% of its portfolio in the stock. Ledyard Bancorporation holds 332 shares or 0% of its portfolio.

Insider Transactions: Since May 24, 2016, the stock had 0 buys, and 14 insider sales for $3.79 million net activity. $202,239 worth of shares were sold by CHOU TIMOTHY C K on Monday, August 15. Nash Sarah E sold 1,482 shares worth $100,880. $64,690 worth of Blackbaud, Inc. (NASDAQ:BLKB) shares were sold by Nelson Joyce. 1,300 Blackbaud, Inc. (NASDAQ:BLKB) shares with value of $79,872 were sold by ELLIS GEORGE H. 4,319 shares were sold by MOONEY KEVIN W, worth $262,811 on Monday, November 7. The insider BOOR ANTHONY W sold 5,608 shares worth $364,632. Shares for $243,556 were sold by MISTRETTA JOHN J on Tuesday, May 31.

Blackbaud, Inc. is a provider of software and services for the global philanthropic community. The company has a market cap of $3.13 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 99.98 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.”

BLKB Company Profile

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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