Zacks Investment Research upgraded shares of Blackbaud (NASDAQ:BLKB) from a hold rating to a buy rating in a research report report published on Thursday morning. Zacks Investment Research currently has $103.00 target price on the technology company’s stock.
According to Zacks, “Blackbaud Inc. combines technology and expertise to help organizations achieve their missions. Blackbaud works with more than 30,000 customers in over 60 countries that support higher education, healthcare, human services, arts and culture, faith, the environment, independent K-12 education, animal welfare and other charitable causes. The company offers a full spectrum of cloud-based and on-premise software solutions and related services for organizations of all sizes including: fundraising, eMarketing, advocacy, constituent relationship management (CRM), financial management, payment solutions, analytics and vertical-specific solutions. Using Blackbaud technology, these organizations raise more than $100 billion each year. “
Several other brokerages have also recently issued reports on BLKB. Dougherty & Co assumed coverage on shares of Blackbaud in a report on Tuesday, October 31st. They issued a neutral rating on the stock. Citigroup set a $112.00 target price on shares of Blackbaud and gave the stock a buy rating in a report on Friday, October 27th. DA Davidson assumed coverage on shares of Blackbaud in a report on Friday, February 2nd. They issued a neutral rating and a $95.00 target price on the stock. BidaskClub cut shares of Blackbaud from a strong-buy rating to a buy rating in a report on Tuesday, December 12th. Finally, Robert W. Baird raised their target price on shares of Blackbaud from $85.00 to $95.00 and gave the stock a neutral rating in a report on Monday, October 23rd. One investment analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the stock. The company has a consensus rating of Hold and a consensus price target of $95.33.
The business also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Wednesday, February 28th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 0.51%. The ex-dividend date is Tuesday, February 27th. Blackbaud’s dividend payout ratio (DPR) is currently 35.04%.
In related news, EVP Kevin W. Mooney sold 4,466 shares of Blackbaud stock in a transaction on Tuesday, November 14th. The shares were sold at an average price of $101.00, for a total value of $451,066.00. Following the sale, the executive vice president now owns 71,655 shares in the company, valued at $7,237,155. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Brian Boruff sold 800 shares of Blackbaud stock in a transaction on Wednesday, November 22nd. The shares were sold at an average price of $103.95, for a total transaction of $83,160.00. Following the completion of the sale, the executive vice president now owns 50,862 shares in the company, valued at approximately $5,287,104.90. The disclosure for this sale can be found here. Insiders own 2.19% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. Schwab Charles Investment Management Inc. boosted its holdings in shares of Blackbaud by 5.1% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 215,252 shares of the technology company’s stock valued at $18,900,000 after buying an additional 10,517 shares in the last quarter. Municipal Employees Retirement System of Michigan boosted its holdings in shares of Blackbaud by 28.1% during the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 14,540 shares of the technology company’s stock valued at $1,277,000 after buying an additional 3,190 shares in the last quarter. Jane Street Group LLC boosted its holdings in shares of Blackbaud by 80.7% during the 3rd quarter. Jane Street Group LLC now owns 6,081 shares of the technology company’s stock valued at $534,000 after buying an additional 2,715 shares in the last quarter. Crossmark Global Holdings Inc. bought a new stake in shares of Blackbaud during the 3rd quarter valued at $389,000. Finally, JPMorgan Chase & Co. boosted its holdings in shares of Blackbaud by 2.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 945,845 shares of the technology company’s stock valued at $82,432,000 after buying an additional 26,980 shares in the last quarter.
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Blackbaud, Inc is a cloud software company. The Company offers a range of cloud and on-premise solutions, as well as a resource network that empowers and connects organizations of all sizes. Its segments include the General Markets Business Unit (the GMBU), the Enterprise Customer Business Unit (the ECBU) and the International Business Unit (the IBU).
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