Rating To Observe: What To Expect After Blackbaud Inc (NASDAQ:BLKB)’s Downgrade Rating From Bank of America (Merrill Lynch)?

November 23, 2016 - By Ellis Scott

Rating To Observe: What To Expect After Blackbaud Inc (NASDAQ:BLKB)'s Downgrade Rating From Bank of America (Merrill Lynch)?

Blackbaud Inc (NASDAQ:BLKB) Downgrade

In a analysts report published today, Bank of America (Merrill Lynch) downgraded shares of Blackbaud Inc (NASDAQ:BLKB) to a “Underperform” rating from a “Neutral” rating.

Blackbaud, Inc. (NASDAQ:BLKB) Ratings Coverage

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 14.45% above today’s ($63.96) stock price. Blackbaud Inc has been the topic of 11 analyst reports since October 13, 2015 according to StockzIntelligence Inc. The rating was initiated by Benchmark with “Buy” on Thursday, November 19. The firm has “Sector Weight” rating given on Tuesday, March 22 by Pacific Crest. The company was initiated on Monday, June 27 by Evercore. Wunderlich initiated the stock with “Buy” rating in Thursday, February 18 report. The stock of Blackbaud, Inc. (NASDAQ:BLKB) has “Buy” rating given on Thursday, June 30 by Stifel Nicolaus. The stock of Blackbaud, Inc. (NASDAQ:BLKB) has “Neutral” rating given on Wednesday, January 6 by Bank of America. The firm earned “Outperform” rating on Thursday, December 10 by Robert W. Baird. B. Riley & Co initiated the shares of BLKB in a report on Tuesday, October 13 with “Neutral” rating.

About 328,004 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 improved, 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.

Price T Rowe Associates Md has 807,437 shares for 0.01% of their US portfolio. Smith Howard Wealth Management Limited Liability Corp last reported 71,563 shares in the company. Brown Capital Management Ltd accumulated 4.85% or 4.52M shares. First Mercantile accumulated 0.13% or 15,011 shares. Capstone Asset Mgmt last reported 0.03% of its portfolio in the stock. Us Comml Bank De last reported 4,242 shares in the company. City Holdg owns 80 shares or 0% of their US portfolio. Ladenburg Thalmann Financial Services Inc has invested 0% of its portfolio in Blackbaud, Inc. (NASDAQ:BLKB). Susquehanna Interest Gru Limited Liability Partnership has 26,186 shares for 0% of their US portfolio. Pier Lc reported 87,957 shares or 1.09% of all its holdings. Hanseatic Management Services, a New Mexico-based fund reported 25,400 shares. Renaissance Technologies Ltd Llc reported 87,700 shares or 0.01% of all its holdings. Amalgamated State Bank owns 5,449 shares or 0.02% of their US portfolio. Marsico Ltd accumulated 60,856 shares or 0.14% of the stock. Bridgeway Cap Management holds 0% or 3,700 shares in its portfolio.

Insider Transactions: Since May 24, 2016, the stock had 0 insider buys, and 14 selling transactions for $3.79 million net activity. Shares for $40,866 were sold by Nelson Joyce. 11,431 shares were sold by Cumbaa Charles T, worth $783,024 on Friday, July 8. MISTRETTA JOHN J sold $233,857 worth of stock. Shares for $79,872 were sold by ELLIS GEORGE H. $100,880 worth of Blackbaud, Inc. (NASDAQ:BLKB) was sold by Nash Sarah E. CHOU TIMOTHY C K also sold $202,239 worth of Blackbaud, Inc. (NASDAQ:BLKB) on Monday, August 15. The insider MOONEY KEVIN W sold 4,319 shares worth $262,811.

Blackbaud, Inc. is a provider of software and services for the global philanthropic community. The company has a market cap of $3.08 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 98.59 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 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 the news titled: “Blackbaud, Inc. Earnings Continue to Soar Into the Cloud” on August 02, 2016. Prnewswire.com‘s news article titled: “Blackbaud Announces Keynote Speakers for 17th Annual Conference for the Social …” with publication date: October 17, 2016 was also an interesting one.

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