Blackbaud Reports in Line 1Q; TAM Opportunity Remains Attractive; Shares Modestly Undervalued
Blackbaud reported an in line first-quarter result, and management reiterated its full-year 2019 guidance. We continue to see the firm’s ongoing shift toward recurring revenue, and its recurring revenue in the first quarter constituted 92% of total revenue. Following on from the end of last year, the firm also saw deceleration in the one-time revenue line, which indicates the success of the transition toward recurring business. However, this transition will be a short-term growth headwind in our...Blackbaud is a cloud software company. The company is engaged in providing software solutions in cloud and hosted environments, providing payment and transaction services, providing software maintenance and support services, and providing services, including implementation, consulting, training, analytic and other services. The company's portfolio provides fundraising and relationship management, marketing and engagement, financial management, grant and award management, organizational and program management (such as education management, church management and ticketing), social responsibility, payment services and analytics.
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.
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