Blackbaud Delivers Strong 4Q Results, Solid Outlook; Raising Fair Value Estimate to $104
Blackbaud reported fourth-quarter results that were in line to ahead of our expectations. The company digested its acquisition of crowdfunding firm JustGiving in the quarter, yielding stronger subscription revenue. Management continues to execute on several long-term strategic initiatives, including operating margin expansion that should continue (albeit modestly) in fiscal 2018. The firm also announced its new effective tax rate would be 20%, modestly below the 22% rate we had been assuming pre...
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
We have operations in 27 countries.
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