Blackbaud (NASDAQ:BLKB) Sets New 52-Week Low Following Analyst Downgrade

Blackbaud, Inc. (NASDAQ:BLKB) reached a new 52-week low during trading on Thursday after Robert W. Baird lowered their price target on the stock from $80.00 to $76.00. Robert W. Baird currently has a neutral rating on the stock. Blackbaud traded as low as $66.35 and last traded at $66.20, with a volume of 210514 shares trading hands. The stock had previously closed at $68.52.

Separately, Baird R W downgraded Blackbaud from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 31st. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Blackbaud presently has a consensus rating of “Hold” and a consensus price target of $85.33.

Insider Buying and Selling at Blackbaud

In other Blackbaud news, CEO Michael P. Gianoni sold 9,479 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $88.13, for a total value of $835,384.27. Following the completion of the sale, the chief executive officer now directly owns 344,079 shares in the company, valued at $30,323,682.27. This represents a 2.68 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.95% of the stock is owned by company insiders.

Institutional Trading of Blackbaud

Large investors have recently added to or reduced their stakes in the stock. Vestcor Inc purchased a new position in shares of Blackbaud during the 4th quarter worth $75,000. TD Private Client Wealth LLC grew its holdings in shares of Blackbaud by 42.0% during 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 grew its holdings in shares of Blackbaud by 33.9% during 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. Blue Trust Inc. grew its holdings in shares of Blackbaud by 190.4% during the 3rd quarter. Blue Trust Inc. now owns 1,597 shares of the technology company’s stock worth $135,000 after purchasing an additional 1,047 shares during the period. Finally, Huntington National Bank grew its holdings in shares of Blackbaud by 13.9% during the 4th 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 period. 94.21% of the stock is currently owned by hedge funds and other institutional investors.

Blackbaud Trading Down 3.4 %

The firm has a market capitalization of $3.26 billion, a PE ratio of -11.22 and a beta of 1.08. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 1.79. The business has a fifty day moving average price of $76.35 and a two-hundred day moving average price of $80.19.

Blackbaud (NASDAQ:BLKB) last released its quarterly 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). The business 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 21.42% and a negative net margin of 24.83%. Analysts expect that Blackbaud, Inc. will post 3.05 EPS for the current fiscal year.

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.