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Charleston, South Carolina – blackbow (NASDAQ: NASDAQ:), a prominent social impact software provider, has reached a settlement with the U.S. Federal Trade Commission regarding a security breach that occurred in 2020. The company has not been fined or required to pay any part of the agreement, and announced the resolution of previously disclosed issues.
A settlement would halt the FTC's investigation into the case. Blackbaud President and CEO Mike Gianoni expressed satisfaction with the resolution and emphasized the company's commitment to strengthening its cybersecurity and compliance efforts. Despite the settlement, Blackbaud has neither admitted nor denied the FTC's claims.
Details of the settlement were filed with the Securities and Exchange Commission on Blackbaud's Form 8-K.
This article is based on Blackbaud's press release statement.
Investment Pro Insights
Given Blackbaud's recent settlement with the FTC, investors and stakeholders may be interested in the company's financial health and market performance. Blackbaud has a market capitalization of approximately US$4.32 billion, according to real-time data from InvestingPro. The company's revenue grew by 5.23% over the past twelve months as of Q3 2023, with a more notable quarterly growth rate of 6.25%. This financial strength is further highlighted by his gross profit margin of 54.21%, reflecting a robust ability to control costs relative to revenues.
However, the company's adjusted P/E ratio for the past 12 months is -173.39 while it is 96.97. This aligns with his InvestingPro tip, which predicts Blackbaud will be profitable this year, and suggests market expectations for future profitability. Moreover, the company has achieved a high return of 15.08% price total return over the past three months, indicating the return of investor confidence.
InvestingPro Tips also reveals that Blackbaud doesn't pay a dividend, which may be relevant for income-oriented investors. Additionally, while the stock is generally trading with low price volatility, analysts have revised down next year's earnings, indicating potential challenges ahead.
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