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

Blackbaud, Inc. (NASDAQ:BLKB) shares hit a new 52-week low during trading on Friday . The company traded as low as $62.76 and last traded at $63.13, with a volume of 1238589 shares. The stock had previously closed at $63.93.

Analyst Upgrades and Downgrades

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

Blackbaud Stock Down 1.3 %

The stock’s 50 day moving average is $72.25 and its 200 day moving average is $78.35. The company has a market capitalization of $3.11 billion, a PE ratio of -10.70 and a beta of 1.08. 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 posted 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 company had revenue of $302.23 million for the quarter, compared to analysts’ expectations of $303.41 million. Blackbaud had a positive return on equity of 26.30% and a negative net margin of 24.83%. On average, sell-side analysts anticipate that Blackbaud, Inc. will post 3.05 EPS for the current fiscal year.

Institutional Investors Weigh In On Blackbaud

Hedge funds and other institutional investors have recently modified their holdings of the stock. Vestcor Inc bought a new stake in Blackbaud during the fourth quarter valued at $75,000. TD Private Client Wealth LLC grew its holdings in shares of Blackbaud by 42.0% during the third 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 in the last quarter. KBC Group NV increased its position in shares of Blackbaud by 33.9% in the fourth 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 last quarter. Huntington National Bank raised 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 valued at $138,000 after purchasing an additional 227 shares in the last quarter. Finally, Meeder Asset Management Inc. bought a new stake in Blackbaud during the third quarter valued at approximately $142,000. 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.