Blackbaud Inc (NASDAQ:BLKB) Reaching An Inflection Point; Robert W. Baird Initiates Shares At “Outperform” with $75.00 target


Why Has Robert W. Baird Given Blackbaud Inc (NASDAQ:BLKB) a $75.00 Price Target

Robert W. Baird has just issued a “Outperform” rating for Blackbaud Inc (NASDAQ:BLKB) shares. The firm commenced coverage coverage on shares of BLKB in recent note finalized on Thursday, 10 December. This target price provides upside of 17.78% from the closing share price of Blackbaud Inc (NASDAQ:BLKB).

From a total of 5 analysts covering Blackbaud Inc (NASDAQ:BLKB) stock, 2 rate it a ”Buy”, 0 a “Sell”, and 2 a ”Hold”. This means that 50% of the ratings are positive. The highest target price is $73 while the lowest target price is $60. The mean of all analyst targets is $67.4 with a 8.19% above today’s ($64.24) stock price. Blackbaud Inc was the topic of 2 analyst reports since October 13, 2015 according to the firm StockzIntelligence Inc. Benchmark initiated shares on November 19 with “Buy” rating.

Approximately 43,941 shares of stock traded hands. Blackbaud, Inc. (NASDAQ:BLKB) has risen 18.56% since May 7, 2015 and is uptrending. It has outperformed by 20.49% the S&P500.

The overall sentiment of institutions has increased to 1.18 in Q2 2015. Its up 0.13, from 1.05 in 2015Q2. The ratio is positive, as 15 institutions have sold all the shares of Blackbaud, Inc. that they owned while 70 funds have taken shares off the table. 31 funds have purchased shares for the first time while 69 added to their positions. These institutions now hold 57.78 million shares or 18.05% more than the 48.94 million shares they owned in 2015Q2.

The Fund Rgm Capital Llc currently is holding shares equating to 7.66% of its total portfolio in Blackbaud, Inc. representing a total of 1.02 million shares. Another fund,Brown Capital Management Llc, is holding a total of 4.58 million shares equating to 4.41% of their holdings. Additionally, Permian Investment Partners Lp has a 279,377 share stake in Blackbaud, Inc. which represents 3.72% of their total portfolio. The Fund, Conestoga Capital Advisors Llc, based out of Pennsylvania, has also built up a stake in the stock, which represents a total of 3.37% of their total portfolio. Finally Atlanta Capital Management Co L L C, a fund which is based in the state of Georgia reported a total holdings of 4.33 million shares.

Insider activity is a very important aspect to track on any stock. Going back to April 1, 2015, shareholders of Blackbaud, Inc. have witnessed 0 buys, and a total of 3 selling transactions equating to a net activity of approximately $579,714 . Holman Brad John sold 4,573 shares worth approximately $278,724. Ellis George H sold 3,000 shares worth approximately $180,990. Olson Jon W sold 2,000 shares worth approximately $120,000. Chou Timothy C K sold 2,000 shares worth approximately $103,000. The company insider Cumbaa Charles T sold 3,214 shares worth $168,735.

Blackbaud, Inc. is a global provider of software and services, designed for the non-profit, charitable giving and education communities. The company has a market cap of $2.97 billion. The Firm operates in four divisions: Enterprise Customer Business Unit , General Markets Business Unit (GMBU), International Business Unit (IBU) and Target Analytics. It has 123.81 P/E ratio. The ECBU is focused on marketing, sales, delivery and support to large and/or strategic 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.” Get a free copy of the Zacks research report on Blackbaud, Inc. (BLKB).