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

Blackbaud, Inc. (NASDAQ:BLKB)’s share price hit a new 52-week low during trading on Thursday . The company traded as low as $52.22 and last traded at $53.0190, with a volume of 51121 shares changing hands. The stock had previously closed at $54.87.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Stifel Nicolaus set a $70.00 price objective on Blackbaud in a report on Wednesday, October 29th. Zacks Research downgraded shares of Blackbaud from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 29th. Wall Street Zen raised shares of Blackbaud from a “hold” rating to a “buy” rating in a research note on Sunday, November 9th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Blackbaud in a research note on Wednesday, January 21st. Three analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Blackbaud presently has an average rating of “Reduce” and an average target price of $73.00.

Blackbaud Stock Performance

The stock has a market capitalization of $2.53 billion, a PE ratio of -10.16, a P/E/G ratio of 2.02 and a beta of 1.07. The company has a debt-to-equity ratio of 9.63, a quick ratio of 0.69 and a current ratio of 0.69. The firm’s 50 day moving average is $60.05 and its two-hundred day moving average is $62.81.

Blackbaud (NASDAQ:BLKB) last posted its quarterly earnings results on Wednesday, October 29th. The technology company reported $1.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.07 by $0.03. Blackbaud had a positive return on equity of 137.13% and a negative net margin of 22.57%.The company had revenue of $281.14 million for the quarter, compared to analyst estimates of $279.21 million. During the same quarter last year, the company earned $0.99 EPS. Blackbaud’s revenue for the quarter was down 2.0% compared to the same quarter last year. As a group, research analysts predict that Blackbaud, Inc. will post 3.05 earnings per share for the current year.

Insider Activity at Blackbaud

In related news, CEO Michael P. Gianoni sold 5,000 shares of the stock in a transaction on Thursday, November 6th. The shares were sold at an average price of $57.68, for a total value of $288,400.00. Following the transaction, the chief executive officer directly owned 372,985 shares of the company’s stock, valued at $21,513,774.80. This trade represents a 1.32% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Rupal S. Hollenbeck sold 1,600 shares of Blackbaud stock in a transaction on Friday, November 21st. The stock was sold at an average price of $56.49, for a total transaction of $90,384.00. Following the sale, the director owned 6,366 shares in the company, valued at $359,615.34. This represents a 20.09% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 11,600 shares of company stock valued at $690,834. 1.97% of the stock is owned by company insiders.

Institutional Trading of Blackbaud

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Trust Point Inc. grew its position in shares of Blackbaud by 3.2% during the fourth quarter. Trust Point Inc. now owns 6,014 shares of the technology company’s stock worth $381,000 after buying an additional 184 shares in the last quarter. Glenmede Investment Management LP grew its holdings in Blackbaud by 2.1% during the 3rd quarter. Glenmede Investment Management LP now owns 10,492 shares of the technology company’s stock worth $675,000 after acquiring an additional 215 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Blackbaud by 46.6% in the 3rd quarter. GAMMA Investing LLC now owns 777 shares of the technology company’s stock worth $50,000 after purchasing an additional 247 shares during the last quarter. CWM LLC raised its stake in shares of Blackbaud by 215.9% in the 2nd quarter. CWM LLC now owns 458 shares of the technology company’s stock valued at $29,000 after purchasing an additional 313 shares in the last quarter. Finally, Versant Capital Management Inc lifted its position in shares of Blackbaud by 68.3% during the third quarter. Versant Capital Management Inc now owns 786 shares of the technology company’s stock worth $51,000 after purchasing an additional 319 shares during the last quarter. Institutional investors and hedge funds own 94.21% of the company’s stock.

Blackbaud Company Profile

Blackbaud, Inc is a leading provider of cloud software, services and data intelligence solutions designed specifically for the social good community. The company’s main offerings include fundraising and relationship management platforms, financial management systems, grant and award management tools, and advanced analytics. Its flagship products—such as Raiser’s Edge NXT, Blackbaud Financial Edge NXT and Blackbaud NetCommunity—help nonprofit organizations, educational institutions, healthcare providers and foundations streamline donor engagement, optimize financial operations and measure program impact.

Founded in 1981 and headquartered in Charleston, South Carolina, Blackbaud has grown from a small technology startup into a global specialist in nonprofit software.