Blackbaud (BLKB) is Downgraded by BofA/Merrill to Underperform

Blackbaud (BLKB) was Downgraded by BofA/Merrill to ” Underperform”. Earlier the firm had a rating of “Neutral ” on the company shares. BofA/Merrill advised their investors in a research report released on Nov 23, 2016.

On the company’s financial health, Blackbaud reported $0.45 EPS for the quarter, missing the analyst consensus estimate by $ -0.06 based on the information available during the earnings call on Nov 1, 2016. Analyst had a consensus of $0.51. The company had revenue of $183.06 million for the quarter, compared to analysts expectations of $184.60 million. The company’s revenue was up 15.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.38 EPS.

Blackbaud opened for trading at $65.16 and hit $65.47 on the upside on Monday, eventually ending the session at $65.34, with a gain of 0.29% or 0.19 points. The heightened volatility saw the trading volume jump to 3,08,592 shares. Company has a market cap of $3,109 M.

In a different news, on Nov 22, 2016, Anthony W Boor (CFO & Exec VP of Fin. & Admin.) sold 5,608 shares at $65.02 per share price. According to the SEC, on Nov 16, 2016, Joyce Nelson (director) sold 1,000 shares at $64.69 per share price. On Nov 14, 2016, George H Ellis (director) sold 1,500 shares at $62.84 per share price, according to the Form-4 filing with the securities and exchange commission.

Blackbaud Inc. is a global provider of software and services designed for the non-profit charitable giving and education communities. The Company operates in four segments: Enterprise Customer Business Unit (ECBU) General Markets Business Unit (GMBU) International Business Unit (IBU) and Target Analytics. The ECBU is focused on marketing sales delivery and support to large and/or strategic prospects and customers in North America. The GMBU is focused on marketing sales delivery and support to all emerging and mid-sized prospects and customers in North America. The IBU is focused on marketing sales delivery and support to all prospects and customers outside of North America. Target Analytics is focused on marketing sales and delivery of analytic services to all prospects and customers across the globe. It operates in four geographic regions: United States Canada Europe and Australia.

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