Today’s Rating On Watch: Bank of America Gives Blackbaud (NASDAQ:BLKB) Lower Rating. What Is Next?

November 23, 2016 - By Hazel Jackson

Today's Rating On Watch: Bank of America Gives Blackbaud (NASDAQ:BLKB) Lower Rating. What Is Next?

Blackbaud (NASDAQ:BLKB) Downgrade

Blackbaud (NASDAQ:BLKB)‘s stock was cut to a “Underperform” by research analysts at Bank of America. BLKB’s “Neutral” rating is no longer valid.

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 12.44% above today’s ($65.1) 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 Robert W. Baird with “Outperform” on Thursday, December 10. The stock of Blackbaud, Inc. (NASDAQ:BLKB) has “Neutral” rating given on Wednesday, January 6 by Bank of America. Benchmark initiated Blackbaud, Inc. (NASDAQ:BLKB) on Thursday, November 19 with “Buy” rating. The firm has “Buy” rating by Wunderlich given on Thursday, February 18. The rating was maintained by Stifel Nicolaus with “Buy” on Thursday, June 30. The stock of Blackbaud, Inc. (NASDAQ:BLKB) earned “Neutral” rating by B. Riley & Co on Tuesday, October 13. The rating was initiated by Evercore with “Hold” on Monday, June 27. The firm has “Sector Weight” rating by Pacific Crest given on Tuesday, March 22.

About 270,515 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.

Arizona State Retirement Sys accumulated 24,649 shares or 0.02% of the stock. Nationwide Fund Advisors has 0.09% invested in the company for 303,418 shares. Marshall Wace Llp has 114,501 shares for 0.07% of their US portfolio. The New York-based Cramer Rosenthal Mcglynn Ltd has invested 0.25% in Blackbaud, Inc. (NASDAQ:BLKB). Moreover, Envestnet Asset Incorporated has 0.01% invested in Blackbaud, Inc. (NASDAQ:BLKB) for 33,424 shares. Lpl Finance Ltd Liability Corporation accumulated 0% or 5,094 shares. Bahl & Gaynor accumulated 21,728 shares or 0.02% of the stock. Kcg, a New Jersey-based fund reported 5,600 shares. Susquehanna Group Limited Liability Partnership last reported 26,186 shares in the company. Walleye Trading Ltd accumulated 896 shares or 0% of the stock. Dimensional Fund L P holds 881,581 shares or 0.03% of its portfolio. Voya Ltd Liability Corp has 0.05% invested in the company for 322,318 shares. Parametric Associate Ltd, a Washington-based fund reported 238,834 shares. Credit Suisse Ag has 0% invested in the company for 35,768 shares. Swiss State Bank reported 78,353 shares or 0.01% of all its holdings.

Insider Transactions: Since May 24, 2016, the stock had 0 buys, and 14 selling transactions for $3.79 million net activity. CHOU TIMOTHY C K sold $202,239 worth of stock or 2,931 shares. BOOR ANTHONY W had sold 5,608 shares worth $364,632 on Friday, November 18. Another trade for 1,482 shares valued at $100,880 was sold by Nash Sarah E. Olson Jon W had sold 4,500 shares worth $300,960 on Thursday, August 4. Another trade for 4,764 shares valued at $304,896 was made by Cumbaa Charles T on Thursday, June 2. The insider Nelson Joyce sold $40,866. 3,922 Blackbaud, Inc. (NASDAQ:BLKB) shares with value of $243,556 were sold by MISTRETTA JOHN J.

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 100.35 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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