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

Blackbaud, Inc. (NASDAQ:BLKB) hit a new 52-week low during trading on Thursday . The company traded as low as $56.09 and last traded at $56.16, with a volume of 291536 shares traded. The stock had previously closed at $57.29.

Analysts Set New Price Targets

Several equities analysts have recently commented on BLKB shares. Wall Street Zen upgraded shares of Blackbaud from a “hold” rating to a “buy” rating in a research report on Sunday, November 9th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Blackbaud in a research note on Wednesday, October 8th. Stifel Nicolaus set a $70.00 target price on Blackbaud in a report on Wednesday, October 29th. Finally, Zacks Research raised shares of Blackbaud from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 3rd. One analyst has rated the stock with a Strong Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $73.00.

Blackbaud Price Performance

The stock has a market capitalization of $2.69 billion, a price-to-earnings ratio of -10.80, a PEG ratio of 4.75 and a beta of 1.08. The business’s fifty day moving average price is $63.57 and its 200-day moving average price is $63.92. The company has a debt-to-equity ratio of 9.63, a current ratio of 0.69 and a quick ratio of 0.84.

Blackbaud (NASDAQ:BLKB) last announced its earnings results on Monday, March 4th. The technology company reported $0.68 earnings per share (EPS) for the quarter. Blackbaud had a positive return on equity of 137.13% and a negative net margin of 22.57%.The company had revenue of $274.76 million for the quarter. On average, research analysts forecast that Blackbaud, Inc. will post 3.05 EPS for the current year.

Insider Activity at Blackbaud

In other Blackbaud news, CEO Michael P. Gianoni sold 5,000 shares of the business’s stock in a transaction on Thursday, November 6th. The stock was sold at an average price of $57.68, for a total value of $288,400.00. Following the transaction, the chief executive officer owned 372,985 shares of the company’s stock, valued at approximately $21,513,774.80. The trade was a 1.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.97% of the company’s stock.

Institutional Trading of Blackbaud

Several hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in Blackbaud by 14.7% during the third quarter. Vanguard Group Inc. now owns 5,516,432 shares of the technology company’s stock worth $354,762,000 after purchasing an additional 706,695 shares during the period. SG Capital Management LLC raised its position in shares of Blackbaud by 777.3% during the 3rd quarter. SG Capital Management LLC now owns 598,547 shares of the technology company’s stock valued at $38,493,000 after buying an additional 530,320 shares in the last quarter. Greenhouse Funds LLLP purchased a new position in shares of Blackbaud in the 1st quarter worth about $31,217,000. Norges Bank purchased a new stake in Blackbaud in the second quarter worth approximately $31,503,000. Finally, Nuveen LLC bought a new position in shares of Blackbaud during the 1st quarter valued at $25,302,000. Institutional investors own 94.21% of the company’s stock.

Blackbaud Company Profile

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.