Blackbaud (NASDAQ:BLKB) Hits New 1-Year Low – Here’s What Happened

Blackbaud, Inc. (NASDAQ:BLKB)’s share price reached a new 52-week low during trading on Monday . The stock traded as low as $61.22 and last traded at $61.50, with a volume of 6423 shares trading hands. The stock had previously closed at $62.11.

Analyst Ratings Changes

Separately, Robert W. Baird cut their price target on Blackbaud from $80.00 to $76.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 19th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Blackbaud currently has a consensus rating of “Hold” and an average target price of $85.33.

Blackbaud Stock Performance

The stock has a 50 day moving average of $69.98 and a 200 day moving average of $77.18. The company has a market capitalization of $3.13 billion, a price-to-earnings ratio of -10.76 and a beta of 1.08. The company has a quick ratio of 0.68, a current ratio of 0.78 and a debt-to-equity ratio of 7.40.

Blackbaud (NASDAQ:BLKB) last issued its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.50). Blackbaud had a positive return on equity of 26.30% and a negative net margin of 24.83%. The firm had revenue of $302.23 million during the quarter, compared to analyst estimates of $303.41 million. As a group, analysts predict that Blackbaud, Inc. will post 3.05 EPS for the current year.

Institutional Trading of Blackbaud

A number of large investors have recently bought and sold shares of BLKB. Vestcor Inc bought a new stake in shares of Blackbaud during the 4th quarter valued at about $75,000. TD Private Client Wealth LLC boosted its holdings in shares of Blackbaud by 42.0% during the 3rd quarter. TD Private Client Wealth LLC now owns 1,174 shares of the technology company’s stock worth $99,000 after buying an additional 347 shares in the last quarter. KBC Group NV grew its position in shares of Blackbaud by 33.9% during the 4th quarter. KBC Group NV now owns 1,676 shares of the technology company’s stock worth $124,000 after buying an additional 424 shares during the period. Huntington National Bank increased its stake in shares of Blackbaud by 13.9% in the 4th quarter. Huntington National Bank now owns 1,864 shares of the technology company’s stock valued at $138,000 after acquiring an additional 227 shares in the last quarter. Finally, Blue Trust Inc. lifted its position in shares of Blackbaud by 20.9% during the 4th quarter. Blue Trust Inc. now owns 1,930 shares of the technology company’s stock valued at $143,000 after acquiring an additional 333 shares during the period. 94.21% of the stock is currently owned by institutional investors and hedge funds.

Blackbaud Company Profile

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.