Blackbaud (NASDAQ:BLKB) Reaches New 12-Month Low – Should You Sell?

Blackbaud, Inc. (NASDAQ:BLKB)’s stock price reached 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 changing hands. The stock had previously closed at $57.29.

Wall Street Analyst Weigh In

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

Blackbaud Price Performance

The company has a debt-to-equity ratio of 9.63, a current ratio of 0.69 and a quick ratio of 0.84. The company has a market capitalization of $2.69 billion, a P/E ratio of -10.80, a price-to-earnings-growth ratio of 4.75 and a beta of 1.08. The firm’s 50-day moving average is $63.57 and its 200-day moving average is $63.92.

Blackbaud (NASDAQ:BLKB) last announced its earnings results on Monday, March 4th. The technology company reported $0.68 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. Analysts predict that Blackbaud, Inc. will post 3.05 EPS for the current fiscal year.

Insider Buying and Selling at Blackbaud

In related news, CEO Michael P. Gianoni sold 5,000 shares of the company’s stock in a transaction on Thursday, November 6th. The shares were sold at an average price of $57.68, for a total value of $288,400.00. Following the completion of the transaction, the chief executive officer owned 372,985 shares of the company’s stock, valued at approximately $21,513,774.80. This represents a 1.32% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 1.97% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. NewEdge Advisors LLC increased its holdings in Blackbaud by 7,429.7% in the 3rd quarter. NewEdge Advisors LLC now owns 8,885 shares of the technology company’s stock valued at $571,000 after acquiring an additional 8,767 shares during the last quarter. Woodline Partners LP boosted its position in shares of Blackbaud by 49.8% during the 3rd quarter. Woodline Partners LP now owns 7,921 shares of the technology company’s stock valued at $509,000 after acquiring an additional 2,635 shares during the last quarter. Dark Forest Capital Management LP grew its holdings in shares of Blackbaud by 11.5% in the third quarter. Dark Forest Capital Management LP now owns 19,219 shares of the technology company’s stock valued at $1,236,000 after purchasing an additional 1,977 shares in the last quarter. PharVision Advisers LLC bought a new stake in Blackbaud in the third quarter worth $279,000. Finally, Shapiro Capital Management LLC raised its stake in Blackbaud by 248.3% during the third quarter. Shapiro Capital Management LLC now owns 419,189 shares of the technology company’s stock valued at $26,958,000 after purchasing an additional 298,839 shares in the last quarter. 94.21% of the stock is currently owned by institutional investors.

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.