Research Desk Line-up: Cognizant Technology Solutions Post Earnings Coverage

LONDON, UK / ACCESSWIRE / August 14, 2017 / Pro-Trader Daily has just published a free post-earnings coverage on Blackbaud, Inc. (NASDAQ: BLKB), which can be viewed by registering at http://protraderdaily.com/optin/?symbol=BLKB, following the Company's release of its financial results on July 31, 2017, for the second quarter fiscal 2017. The world's leading cloud software Company powering social good topped earnings estimates and also re-affirmed its forecasts for FY17. Our daily stock reports are accessible for free, and with those to look forward today you also will be signing up for a complimentary member's account at:

http://protraderdaily.com/register/

Get more of our free earnings reports coverage from other constituents of the Business Software & Services industry. Pro-TD has currently selected Cognizant Technology Solutions Corporation (NASDAQ: CTSH) for due-diligence and potential coverage as the Company announced on August 03, 2017, its financial results for Q2 2017. Register for a free membership today, and be among the early birds that get access to our report on Cognizant Technology Solutions when we publish it.

At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on BLKB; also brushing on CTSH. With the links below you can directly download the report of your stock of interest free of charge at:

http://protraderdaily.com/optin/?symbol=BLKB

http://protraderdaily.com/optin/?symbol=CTSH

Earnings Reviewed

For the quarter ended June 30, 2017, Blackbaud's total GAAP revenue was $192.20 million, up 6.7%, compared to revenue of $180.19 million in Q2 2016. The Company's total non-GAAP revenue was $192.5 million, up 5.8% on a y-o-y basis. Blackbaud's revenue numbers fell short of analysts' estimates of $193.8 million.

For Q2 2017, Blackbaud's GAAP recurring revenue totaled $158.2, representing 82.3% of total revenue, while its non-GAAP recurring revenue totaled $158.5 million, representing 82.3% of total non-GAAP revenue. The Company generated $125.25 million in subscription revenue during the reported quarter compared to subscription revenue of $104.04 million in the prior year's same quarter. Blackbaud generated non?GAAP subscription revenue of $125.6 million, up 16.7% on a y-o-y basis. The Company's GAAP subscriptions revenue represented 65% of total revenue, a new all-time high for the Company.

Blackbaud's GAAP income from operations increased 22.9% to $16.75 million compared to $13.62 million in Q2 2016, with GAAP operating margin increasing 110 basis points to 8.7%. The Company's non-GAAP income from operations increased 16.8% to $40.6 million, while non-GAAP operating margin raised 200 basis points to 21.1%.

For Q2 2017, Blackbaud's GAAP net income increased 23.2% to $11.17 million compared to $9.06 million in Q2 2016. On a per share basis, the Company's earnings totaled $0.23 compared to $0.19 per share in the prior year's corresponding quarter. Blackbaud's non-GAAP net income increased 18.5% to $25.8 million, while non-GAAP diluted earnings per share was $0.54, up 17.4% on a y-o-y basis, and ahead of Wall Street's expectations of $0.51 per share.

Cash Matters

During Q2 2017, Blackbaud's net cash provided by operating activities was $54.55 million compared to $48.75 million in Q2 2016. For H1 2017, the Company's non-GAAP free cash flow was $35.27 million compared to non-GAAP free cash flow of $24.02 million.

On June 02, 2017, Blackbaud entered into a new credit facility in the aggregate amount of $700 million. The Company stated that it entered this facility as a result of successfully executing against the strategy Blackbaud laid out in 2014, causing the Company to "outgrow" the existing credit facility.

In the earnings release, Blackbaud announced that its Board of Directors had declared Q3 2017 dividend of $0.12 per share, payable on September 15, 2017, to stockholders of record on August 28, 2017.

Financial Outlook

Blackbaud reaffirmed its 2017 full-year financial guidance. The Company is forecasting non-GAAP revenue in the range of $775 million to $795 million, while non-GAAP income from operations is expected in the band of $155 million to $163 million. Blackbaud is predicting non-GAAP diluted earnings per share in the range of $2.06 to $2.18 and non-GAAP free cash flow of $120 million to $130 million for FY17.

Stock Performance

At the closing bell, on Friday, August 11, 2017, Blackbaud's stock was marginally up 0.28%, ending the trading session at $84.61. A total volume of 229.22 thousand shares have exchanged hands. The Company's stock price rallied 6.00% in the last three months, 19.61% in the past six months, and 24.01% in the previous twelve months. Moreover, the stock soared 32.20% since the start of the year. The stock is trading at a PE ratio of 82.23 and has a dividend yield of 0.57%. The stock currently has a market cap of $4.05 billion.

Pro-Trader Daily:

Pro-Trader Daily (Pro-TD) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and Canadian stocks. PRO-TD has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles, and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.

PRO-TD has not been compensated; directly or indirectly; for producing or publishing this document.

PRESS RELEASE PROCEDURES:

The non-sponsored content contained herein has been prepared by a writer (the "Author") and is fact checked and reviewed by a third party research service company (the "Reviewer") represented by a credentialed financial analyst [for further information on analyst credentials, please email contact@protraderdaily.com. Rohit Tuli, a CFA® charter holder (the "Sponsor"), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by PRO-TD. PRO-TD is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.

NO WARRANTY

PRO-TD, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. PRO-TD, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, PRO-TD, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.

NOT AN OFFERING

This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither PRO-TD nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://protraderdaily.com/disclaimer/.

CONTACT

For any questions, inquiries, or comments reach out to us directly. If you're a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:

Email: contact@protraderdaily.com

Phone number: (917) 341.4653

Office Address: Mainzer Landstrasse 50 Frankfurt am Main, Germany 60325

CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.

SOURCE: Pro-Trader Daily