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

Blackbaud, Inc. (NASDAQ:BLKB)’s share price hit a new 52-week low during mid-day trading on Monday . The company traded as low as $61.22 and last traded at $61.50, with a volume of 6423 shares trading hands. The stock had previously closed at $62.11.

Wall Street Analysts Forecast Growth

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

Blackbaud Trading Up 2.3 %

The firm’s fifty day simple moving average is $69.98 and its 200 day simple moving average is $77.18. The stock has a market capitalization of $3.13 billion, a P/E ratio of -10.76 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 announced its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.58 earnings per share (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 26.30%. The firm had revenue of $302.23 million during the quarter, compared to the consensus estimate of $303.41 million. As a group, equities research analysts forecast that Blackbaud, Inc. will post 3.05 EPS for the current fiscal year.

Institutional Trading of Blackbaud

Large investors have recently bought and sold shares of the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Blackbaud by 20.9% during the fourth 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 increased its position in Blackbaud by 350.9% during the 4th quarter. Voloridge Investment Management LLC now owns 95,632 shares of the technology company’s stock worth $7,069,000 after purchasing an additional 74,422 shares in the last quarter. Waverly Advisors LLC increased its position in Blackbaud by 22.7% during the 4th quarter. Waverly Advisors LLC now owns 20,503 shares of the technology company’s stock worth $1,516,000 after purchasing an additional 3,790 shares in the last quarter. Two Sigma Investments LP lifted its stake in Blackbaud by 20.3% in the 4th quarter. Two Sigma Investments LP now owns 3,076 shares of the technology company’s stock valued at $227,000 after purchasing an additional 518 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in Blackbaud in 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.