Blackbaud (NASDAQ:BLKB) Reaches 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 company traded as low as $61.22 and last traded at $61.50, with a volume of 6423 shares changing hands. The stock had previously closed at $62.11.

Analysts Set New Price Targets

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

Blackbaud Price Performance

The firm has a market cap of $3.06 billion, a P/E ratio of -10.51 and a beta of 1.08. The firm’s fifty day simple moving average is $70.60 and its 200 day simple moving average is $77.47. 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 quarterly earnings results on Tuesday, February 18th. The technology company reported $0.58 earnings per share for the quarter, missing the consensus estimate of $1.08 by ($0.50). The business had revenue of $302.23 million during the quarter, compared to the consensus estimate of $303.41 million. Blackbaud had a positive return on equity of 26.30% and a negative net margin of 24.83%. As a group, analysts forecast that Blackbaud, Inc. will post 3.05 earnings per share for the current year.

Institutional Trading of Blackbaud

Institutional investors have recently bought and sold shares of the stock. Vestcor Inc purchased a new stake in shares of Blackbaud in the fourth quarter valued at $75,000. TD Private Client Wealth LLC raised 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 worth $99,000 after purchasing an additional 347 shares during the period. KBC Group NV raised 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 worth $124,000 after purchasing an additional 424 shares during the period. Huntington National Bank lifted its stake in Blackbaud by 13.9% in the fourth quarter. Huntington National Bank now owns 1,864 shares of the technology company’s stock worth $138,000 after purchasing an additional 227 shares during the last quarter. Finally, Blue Trust Inc. boosted its position in shares of Blackbaud by 20.9% during the fourth quarter. Blue Trust Inc. now owns 1,930 shares of the technology company’s stock valued at $143,000 after buying an additional 333 shares during the period. 94.21% of the stock is currently owned by institutional investors.

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.