Blackbaud (NASDAQ:BLKB) Reaches New 12-Month Low – Here’s Why

Blackbaud, Inc. (NASDAQ:BLKB)’s stock price reached a new 52-week low on Wednesday . The company traded as low as $66.01 and last traded at $65.89, with a volume of 199361 shares changing hands. The stock had previously closed at $66.86.

Analyst Upgrades and Downgrades

BLKB has been the topic of several analyst reports. Baird R W downgraded shares of Blackbaud from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 31st. Robert W. Baird dropped their target price on Blackbaud from $80.00 to $76.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 19th. Four 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, the stock presently has an average rating of “Hold” and an average price target of $85.33.

Blackbaud Trading Down 1.4 %

The stock has a market cap of $3.25 billion, a PE ratio of -11.17 and a beta of 1.08. The company has a current ratio of 0.78, a quick ratio of 0.68 and a debt-to-equity ratio of 7.40. The business has a 50 day moving average of $75.74 and a 200-day moving average of $80.09.

Blackbaud (NASDAQ:BLKB) last issued its earnings results on Tuesday, February 18th. The technology company reported $0.58 earnings per share 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 26.30%. The firm had revenue of $302.23 million during the quarter, compared to analyst estimates of $303.41 million. On average, analysts anticipate that Blackbaud, Inc. will post 3.05 EPS for the current year.

Hedge Funds Weigh In On Blackbaud

A number of institutional investors have recently made changes to their positions in BLKB. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Blackbaud by 20.9% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 97,573 shares of the technology company’s stock worth $7,213,000 after acquiring an additional 16,890 shares in the last quarter. Voloridge Investment Management LLC lifted its position in shares of Blackbaud by 350.9% in the 4th quarter. Voloridge Investment Management LLC now owns 95,632 shares of the technology company’s stock worth $7,069,000 after buying an additional 74,422 shares during the last quarter. Waverly Advisors LLC grew its position in shares of Blackbaud by 22.7% during the 4th quarter. Waverly Advisors LLC now owns 20,503 shares of the technology company’s stock valued at $1,516,000 after buying an additional 3,790 shares during the last quarter. Two Sigma Investments LP lifted its holdings in Blackbaud by 20.3% in the fourth quarter. Two Sigma Investments LP now owns 3,076 shares of the technology company’s stock worth $227,000 after acquiring an additional 518 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Blackbaud during the fourth quarter valued at approximately $216,000. 94.21% of the stock is 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.