Blackbaud (NASDAQ:BLKB) Reaches New 52-Week Low Following Analyst Downgrade

Blackbaud, Inc. (NASDAQ:BLKB) hit a new 52-week low during mid-day trading on Thursday after Robert W. Baird lowered their price target on the stock from $80.00 to $76.00. Robert W. Baird currently has a neutral rating on the stock. Blackbaud traded as low as $66.35 and last traded at $66.20, with a volume of 210514 shares. The stock had previously closed at $68.52.

Separately, Baird R W lowered shares of Blackbaud from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 31st. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $85.33.

Insider Buying and Selling at Blackbaud

In other Blackbaud news, CEO Michael P. Gianoni sold 9,479 shares of the firm’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $88.13, for a total value of $835,384.27. Following the transaction, the chief executive officer now directly owns 344,079 shares of the company’s stock, valued at approximately $30,323,682.27. This trade represents a 2.68 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.95% of the company’s stock.

Institutional Trading of Blackbaud

Institutional investors and hedge funds have recently made changes to their positions in the company. Vestcor Inc purchased a new stake in shares of Blackbaud in the fourth quarter valued at about $75,000. TD Private Client Wealth LLC boosted its position in Blackbaud by 42.0% during the third quarter. TD Private Client Wealth LLC now owns 1,174 shares of the technology company’s stock worth $99,000 after purchasing an additional 347 shares during the period. Blue Trust Inc. boosted its position in shares of Blackbaud by 190.4% in the third quarter. Blue Trust Inc. now owns 1,597 shares of the technology company’s stock valued at $135,000 after acquiring an additional 1,047 shares during the period. KBC Group NV boosted its position in shares of Blackbaud by 33.9% in the fourth quarter. KBC Group NV now owns 1,676 shares of the technology company’s stock valued at $124,000 after acquiring an additional 424 shares during the period. Finally, Meeder Asset Management Inc. bought a new position in shares of Blackbaud in the third quarter valued at approximately $142,000. Hedge funds and other institutional investors own 94.21% of the company’s stock.

Blackbaud Price Performance

The business’s 50-day moving average price is $76.63 and its 200 day moving average price is $80.29. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 1.79. The company has a market capitalization of $3.26 billion, a P/E ratio of -11.23 and a beta of 1.08.

Blackbaud (NASDAQ:BLKB) last released its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.58 EPS for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.50). Blackbaud had a negative net margin of 24.83% and a positive return on equity of 21.42%. The firm had revenue of $302.23 million during the quarter, compared to the consensus estimate of $303.41 million. Analysts anticipate that Blackbaud, Inc. will post 3.05 EPS for the current fiscal year.

About Blackbaud

Blackbaud, Inc provides cloud software solutions to nonprofits, foundations, education institutions, and healthcare organizations in the United States and internationally. The company offers fundraising and engagement solutions, such as Blackbaud Raiser's Edge NXT, Blackbaud CRM, Blackbaud eTapestry, Blackbaud Luminate Online, Blackbaud TeamRaiser, JustGiving, Blackbaud Fundraiser Performance Management, Blackbaud Guided Fundraising, and Blackbaud Altru; and financial management solutions comprising Blackbaud Financial Edge NXT, Blackbaud Tuition Management, and Blackbaud Financial Aid and Billing Management.