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

Blackbaud, Inc. (NASDAQ:BLKB)’s share price hit a new 52-week low 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 cut shares of Blackbaud from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 31st. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, Blackbaud presently has a consensus rating of “Hold” and an average price target of $85.33.

Insider Activity at Blackbaud

In other Blackbaud news, CEO Michael P. Gianoni sold 9,479 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now directly owns 344,079 shares in the company, valued at approximately $30,323,682.27. This represents a 2.68 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.95% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Blackbaud

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vestcor Inc acquired a new position in Blackbaud in the 4th quarter valued at approximately $75,000. TD Private Client Wealth LLC increased its position in Blackbaud by 42.0% in the 3rd quarter. TD Private Client Wealth LLC now owns 1,174 shares of the technology company’s stock valued at $99,000 after acquiring an additional 347 shares during the period. KBC Group NV increased its position in Blackbaud by 33.9% in the 4th 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. Blue Trust Inc. increased its position in Blackbaud by 190.4% in the 3rd 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. Finally, Huntington National Bank increased its position in 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 during the period. 94.21% of the stock is currently owned by institutional investors and hedge funds.

Blackbaud Stock Performance

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

Blackbaud (NASDAQ:BLKB) last posted 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. On average, analysts expect that Blackbaud, Inc. will post 3.05 EPS for the current 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.