Black Knight, Inc. provides integrated software, data, and analytics solutions in North America and Internationally. The Software Solutions segment offers software and hosting solutions comprising MSP, a software as a service application platform for mortgage and home equity loans; Bankruptcy/Foreclosure solutions for managing and automating a range of various workflow processes involving distressed and non-performing loans; Invoicing, a Web-based solution that helps servicers to save time and eliminate errors; Servicing Digital, a white-labeled mobile solution; Loss Mitigation, an integrated solution that supports retention and liquidation workouts; Claims, an integrated solution which manages default-related claims process; and Empower, a loan origination system used by lenders to originate mortgages, home equity loans, and lines of credit. This segment also provides LendingSpace, a lending platform that facilitates real-time communication between correspondent loan sellers and purchases; Exchange, a platform that provides an interconnected network of originators, agents, settlement services providers, and mortgage loan investors; and Expedite Close, an end-to-end closing solution that offers the flexibility and scalability lenders need in an eClosing software solution; Optimal Blue PPE, a product and pricing solution used by lenders and mortgage brokers; CompassPoint, which provides tools, reporting, calculations, and automation capabilities; and AIVA, an artificial intelligence virtual assistant. The Data and Analytics segment offers property ownership data, lien data, servicing data, automated valuation models, collateral risk scores, behavioral models, lead generation, multiple listing service, and other data solutions. The company was formerly known as Black Knight Financial Services, Inc. and changed its name to Black Knight, Inc. in October 2017. Black Knight, Inc. was founded in 2013 and is headquartered in Jacksonville, Florida.
IPO Year: 2017
Exchange: NYSE
Website: blackknightinc.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 7/24/2023 | $72.00 → $75.00 | Overweight → Equal-Weight | Stephens |
| 12/2/2022 | $65.00 | Overweight → Equal Weight | Barclays |
| 5/9/2022 | $83.00 → $80.00 | Outperform → Mkt Perform | Keefe Bruyette |
| 2/8/2022 | $100.00 → $71.00 | Buy → Hold | Jefferies |
| 11/9/2021 | $83.00 → $91.00 | Outperform | Raymond James |
| 9/30/2021 | $83.00 | Market Perform → Outperform | Raymond James |
According to the Optimal Blue Mortgage Market Indices, 30-year conforming rates climbed above 7.25% in August, the highest level in more than 20 years, before settling to 7.07% at the end of the monthOverall rate lock volumes were down for the third consecutive month, falling 1.5% from July, driven by a 1.9% decrease in purchase volumePurchase lock counts were down 22% year over year and 34% compared to 2019 pre-pandemic levels, as higher interest rates and the tightest affordability since the early 1980s dampened demandAs reported in Black Knight's August Mortgage Monitor report, signs of credit tightening have been seen in rising down payments, falling loan-to-value ratios and higher credi
In July 2023, the average monthly principal and interest (P&I) payment for borrowers purchasing a home using a 30-year fixed-rate loan was $2,306 – before taxes and insurance are even includedThat's the highest average P&I payment on record and has risen by 60% (+$871) over the past two years; it's also poised to push even higher given recent rate increasesMore than half of such July purchase originations had a payment of more than $2,000 a month, up from just 18% 2 years ago, with nearly a quarter (23%) having payments of more than $3,000 – up from 5% in 2021Beyond purchase affordability, rising interest rates are also having a clear and decisive impact on how much equity mortgage holders a
-- The Black Knight HPI hit another all-time high in July, with the annual rate of growth jumping to +2.3% from a revised +0.9% in June -- The reaccelerating annual growth rate was driven as much by the price declines of last July providing a lower starting point as it was by July 2023 gains themselves -- August will likely see further reacceleration in annual growth with prices already up a seasonally adjusted 2.9% from August 2022 and 4.4% from the start of the year -- At the same time, non-adjusted monthly gains fell below their 25-year average after significantly outpacing historical averages from February through June, signaling a slowdown may be underway -- Though prices rose on both s
-- Fahe (Federation of Appalachian Housing Enterprises), a nonprofit that serves the people and communities of Appalachia, has signed a contract for the MSP loan servicing system -- MSP is a comprehensive, end-to-end loan servicing system that encompasses all aspects of servicing, from loan boarding to default -- Fahe will also use Black Knight's default suite of solutions to help manage loss mitigation processes and streamline the handling of nonperforming loans, as well as the Servicing Digital solution to enhance interactions and support retention -- The servicer will also implement the Actionable Intelligence Platform for strategic, proactive and actionable analytics, as well as McDash i
ICE's acquisition of Black Knight is expected to close on September 5, 2023. The deadline for Black Knight stockholders to elect their preferred form of merger consideration is September 1, 2023. Intercontinental Exchange, Inc. (NYSE:ICE) and Black Knight, Inc. (NYSE:BKI) today announced that they have entered into an Agreement Containing Consent Orders (the "ACCO") with the Bureau of Competition of the Federal Trade Commission (the "FTC") regarding ICE's pending acquisition of Black Knight. The ACCO contains an agreed form of consent order that will be submitted to the FTC for acceptance and approval. Pursuant to the previously announced Timing Agreement entered into among ICE, Bl
While the national delinquency rate edged up 9 basis points in July to 3.21%, it was down 12 basis points year over year and remains within 12 basis points of March's record lowMeanwhile, serious delinquencies (90+ days past due) continued to improve, falling to 468K – the lowest level seen since the pre-Great Financial Crisis housing market peak and down 161K (-26%) from July 202230-day delinquencies rose by 35K in the month, with 60-day delinquencies rising by 17K (6.4%) – while those 90+ days past due fell by 3K (-0.6%)Loans in active foreclosure fell to 220K – the fewest since just after the end of federal foreclosure moratoria – and remain down 63K (-22%) from February 2020, prior to th
System Will Support Growth and Deliver a Premier Customer Experience as AimLoan Begins Servicing its Portfolio AimLoan completed its implementation of the MSP servicing system and will use it to help them manage their mortgage portfolio in-houseAfter evaluating multiple servicing systems, AimLoan selected MSP because the single platform encompasses all aspects of servicing, from loan boarding to defaultThe internet-direct lender is also using additional Black Knight solutions to support its servicing operations, including the consumer-focused Servicing Digital and Customer Service solutions and its suite of default solutions, including Loss MitigationJACKSONVILLE, Fla., Aug. 16, 2023 /PRNews
According to the Optimal Blue Mortgage Market Indices, 30-year conforming rates crossed 7% for the first time since November 2022, before falling sharply and then rebounding to 6.88%Overall rate lock volumes were down 7% month over month in July, with purchase lending continuing to make up the vast amount of lock volume, accounting for 88% of total lock activityEven so, purchase lock counts were down 27% year over year and 35% compared to 2019 pre-pandemic levels, as higher interest rates and persisting low inventories dampened demandAs reported in Black Knight's most recent Mortgage Monitor report, signs of credit tightening have been seen in July locks in rising down payments, falling loan
LISLE, Ill., Aug. 07, 2023 (GLOBE NEWSWIRE) -- Midwest Real Estate Data, LLC (MRED) announces the addition of Black Knight's Paragon Connect as an MLS platform, expanding on the MLS's commitment to providing its subscribers with the most state-of-the-art products for their businesses. Paragon Connect offers reliable real estate data management which can be seamlessly accessed on any device. The front-end allows deep analytical reporting, customization and real-time workflow advantages. The front end is scalable for any size business, which is important to an MLS the size of MRED which serves firms ranging from solo practitioners to agencies with thousands of agents. MRED's nearly 5
The Black Knight Home Price Index (HPI) hit an all-time high in June, this time on both seasonally adjusted (SA) and unadjusted levels, with nearly every major market experiencing month-over-month growthPrices have now reached new peaks in 30 of the 50 largest markets, with several northeastern metros currently 5-8% above 2022 highsHome prices rose by +.67% (SA) month-over-month in June, while after slowing for 14 consecutive months, the annual growth rate rose to +0.8% in June, up from a revised +0.2% in MayBroadly speaking, annual growth is strongest among Midwest and Northeast markets, while West Coast and pandemic boom markets continue to see prices run below last year's levelsDespite ov
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Stephens downgraded Black Knight from Overweight to Equal-Weight and set a new price target of $75.00 from $72.00 previously
Barclays downgraded Black Knight from Overweight to Equal Weight and set a new price target of $65.00
Keefe Bruyette downgraded Black Knight from Outperform to Mkt Perform and set a new price target of $80.00 from $83.00 previously
Jefferies downgraded Black Knight from Buy to Hold and set a new price target of $71.00 from $100.00 previously
Raymond James reiterated coverage of Black Knight with a rating of Outperform and set a new price target of $91.00 from $83.00 previously
Raymond James upgraded Black Knight from Market Perform to Outperform and set a new price target of $83.00
Barclays reiterated coverage of Black Knight with a rating of Overweight and set a new price target of $90.00 from $105.00 previously
Raymond James initiated coverage of Black Knight with a rating of Market Perform
Susquehanna upgraded Black Knight from Neutral to Positive and set a new price target of $100.00
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4 - Black Knight, Inc. (0001627014) (Issuer)
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The Black Knight Home Price Index (HPI) hit an all-time high in June, this time on both seasonally adjusted (SA) and unadjusted levels, with nearly every major market experiencing month-over-month growthPrices have now reached new peaks in 30 of the 50 largest markets, with several northeastern metros currently 5-8% above 2022 highsHome prices rose by +.67% (SA) month-over-month in June, while after slowing for 14 consecutive months, the annual growth rate rose to +0.8% in June, up from a revised +0.2% in MayBroadly speaking, annual growth is strongest among Midwest and Northeast markets, while West Coast and pandemic boom markets continue to see prices run below last year's levelsDespite ov
JACKSONVILLE, Fla., Aug. 3, 2023 /PRNewswire/ -- Black Knight, Inc. (NYSE:BKI), a leading provider of software, data and analytics solutions to the mortgage and consumer loan, real estate and capital markets verticals, today announced unaudited financial results for the second quarter and the six months ended June 30, 2023, as compared to the prior year periods. Commentary: Black Knight Executive Chairman Anthony Jabbour said, "Our second quarter results were solid in the face of a very challenging operating environment. As we look ahead to the balance of the year, we remain f
JACKSONVILLE, Fla., July 20, 2023 /PRNewswire/ -- Black Knight, Inc. (NYSE:BKI), a leading provider of software, data and analytics solutions to the mortgage and consumer loan, real estate and capital markets verticals, today announced it will report its second quarter 2023 financial results on Thursday, August 3, 2023, at approximately 7:30 a.m. Eastern Time via press release. This release will be available on Black Knight's Investor Relations website at https://investor.blackknightinc.com. Due to the proposed transaction with Intercontinental Exchange, Inc., Black Knight will not host a conference call or provide forward-looking guidance in connection with the release of its quarterly resu
Divestiture contingent on closing of ICE's acquisition of Black Knight Intercontinental Exchange, Inc. (NYSE:ICE) and Black Knight, Inc. (NYSE:BKI) today announced that, in connection with their previously announced merger agreement for ICE's acquisition of Black Knight, they have agreed to sell Black Knight's Optimal Blue business to a subsidiary of Constellation Software Inc. (TSX:CSU). Under terms of the divestiture agreement, Constellation will acquire Black Knight's Optimal Blue business for $700 million. The structure of the proposed transaction includes a payment by Constellation of $200 million in cash, with the remainder financed by a $500 million promissory note issued by Cons
JACKSONVILLE, Fla., May 4, 2023 /PRNewswire/ -- Black Knight, Inc. (NYSE:BKI), a leading provider of software, data and analytics solutions to the mortgage and consumer loan, real estate and capital markets verticals, today announced unaudited financial results for the first quarter of 2023, as compared to the prior year quarter. Commentary: Black Knight Executive Chairman Anthony Jabbour said, "Our first quarter performance was in-line with our expectations and highlights the ongoing resilience of our business. Despite a challenging operating environment, we remain focused on
JACKSONVILLE, Fla., April 20, 2023 /PRNewswire/ -- Black Knight, Inc. (NYSE:BKI), a leading provider of software, data and analytics solutions to the mortgage and consumer loan, real estate and capital markets verticals, today announced it will report its first quarter 2023 financial results on Thursday, May 4, 2023, at approximately 7:30 a.m. Eastern Time via press release. This release will be available on Black Knight's Investor Relations website at https://investor.blackknightinc.com. Due to the proposed transaction with Intercontinental Exchange, Inc., Black Knight will not host a conference call or provide forward-looking guidance in connection with the release of its quarterly results
Divestiture contingent on closing of ICE's acquisition of Black Knight Amended transaction terms value Black Knight at $75 per share Intercontinental Exchange, Inc. (NYSE:ICE) and Black Knight, Inc. (NYSE:BKI) today announced that, in connection with their previously announced merger agreement for ICE's acquisition of Black Knight, they have agreed to sell Black Knight's Empower loan origination system (LOS) business, including its Exchange, LendingSpace and AIVA solutions, to a subsidiary of Constellation Software Inc. (TSX:CSU). ICE and Black Knight have also amended the terms of their merger agreement. ICE and Black Knight entered into the divestiture agreement in connection with effo
JACKSONVILLE, Fla., Feb. 28, 2023 /PRNewswire/ -- Black Knight, Inc. (NYSE:BKI), a leading provider of software, data and analytics solutions to the mortgage and consumer loan, real estate and capital markets verticals, today announced unaudited financial results for the fourth quarter and year ended December 31, 2022, as compared to the prior year periods. Commentary: Black Knight Executive Chairman Anthony Jabbour said, "I am pleased with our performance during the fourth quarter and for the full year. Despite a very challenging time for the markets we serve, coupled with ou
JACKSONVILLE, Fla., Jan. 30, 2023 /PRNewswire/ -- Black Knight, Inc. (NYSE:BKI), a leading provider of software, data and analytics solutions to the mortgage and consumer loan, real estate and capital markets verticals, today announced it will report its fourth quarter and full-year 2022 financial results on Tuesday, February 28, 2023, at approximately 8:30 a.m. Eastern Time via press release. This release will be available on Black Knight's Investor Relations website at https://investor.blackknightinc.com. Due to the proposed transaction with Intercontinental Exchange, Inc., Black Knight will not host a conference call or provide forward-looking guidance in connection with the release of it
JACKSONVILLE, Fla., Nov. 3, 2022 /PRNewswire/ -- Black Knight, Inc. (NYSE:BKI), a leading provider of software, data and analytics solutions to the mortgage and consumer loan, real estate and capital markets verticals, today announced unaudited financial results for the third quarter and nine months ended September 30, 2022, as compared to the prior year periods. Commentary:Black Knight Executive Chairman Anthony Jabbour said, "I am pleased with our performance in light of what is a very challenging time for the markets we serve and our pending transaction with Intercontinenta
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