Blackbaud (NASDAQ:BLKB) Hits New 52-Week Low – Here’s Why

Blackbaud, Inc. (NASDAQ:BLKB) shares reached a new 52-week low during trading on Monday . The stock traded as low as $59.70 and last traded at $60.83, with a volume of 102997 shares changing hands. The stock had previously closed at $62.20.

Wall Street Analyst Weigh In

Separately, Robert W. Baird reduced their price target on Blackbaud from $80.00 to $76.00 and set a “neutral” rating for the company in a research report on Wednesday, February 19th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, Blackbaud has a consensus rating of “Hold” and a consensus target price of $85.33.

Blackbaud Trading Down 2.6 %

The company has a market capitalization of $2.98 billion, a price-to-earnings ratio of -10.27 and a beta of 1.04. The business’s 50 day moving average price is $68.83 and its two-hundred day moving average price is $76.56. The company has a debt-to-equity ratio of 7.40, a quick ratio of 0.68 and a current ratio of 0.78.

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

Institutional Trading of Blackbaud

Several institutional investors have recently made changes to their positions in the stock. Norges Bank purchased a new stake in Blackbaud in the 4th quarter worth approximately $34,168,000. Wellington Management Group LLP raised its holdings in shares of Blackbaud by 56.0% during the third quarter. Wellington Management Group LLP now owns 429,051 shares of the technology company’s stock worth $36,332,000 after acquiring an additional 154,019 shares in the last quarter. Penn Capital Management Company LLC acquired a new stake in Blackbaud during the fourth quarter valued at $10,581,000. Bank of New York Mellon Corp grew its stake in Blackbaud by 41.0% in the fourth quarter. Bank of New York Mellon Corp now owns 482,561 shares of the technology company’s stock valued at $35,671,000 after purchasing an additional 140,273 shares in the last quarter. Finally, New York State Common Retirement Fund increased its position in Blackbaud by 63.5% in the 4th quarter. New York State Common Retirement Fund now owns 282,250 shares of the technology company’s stock worth $20,864,000 after purchasing an additional 109,630 shares during the last quarter. 94.21% of the stock is currently owned by institutional investors and hedge funds.

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.