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

Blackbaud, Inc. (NASDAQ:BLKB)’s share price reached a new 52-week low on Thursday . The company traded as low as $52.22 and last traded at $53.0190, with a volume of 51121 shares changing hands. The stock had previously closed at $54.87.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Wall Street Zen raised 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 report on Wednesday, January 21st. Zacks Research cut shares of Blackbaud from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 29th. Finally, Stifel Nicolaus set a $70.00 target price on Blackbaud in a report on Wednesday, October 29th. Three analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Reduce” and an average target price of $73.00.

Blackbaud Stock Performance

The stock has a market cap of $2.57 billion, a P/E ratio of -10.33, a PEG ratio of 1.96 and a beta of 1.07. The stock has a fifty day simple moving average of $59.94 and a 200-day simple moving average of $62.68. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 9.63.

Blackbaud (NASDAQ:BLKB) last posted its earnings results on Wednesday, October 29th. The technology company reported $1.10 earnings per share for the quarter, topping the consensus estimate of $1.07 by $0.03. The company had revenue of $281.14 million for the quarter, compared to analyst estimates of $279.21 million. Blackbaud had a negative net margin of 22.57% and a positive return on equity of 137.13%. The business’s revenue for the quarter was down 2.0% compared to the same quarter last year. During the same period last year, the business posted $0.99 earnings per share. Equities analysts expect that Blackbaud, Inc. will post 3.05 earnings per share for the current fiscal year.

Insider Transactions at Blackbaud

In other news, Director Rupal S. Hollenbeck sold 1,600 shares of the business’s stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $56.49, for a total value of $90,384.00. Following the completion of the sale, the director owned 6,366 shares of the company’s stock, valued at approximately $359,615.34. The trade was a 20.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Michael P. Gianoni sold 5,000 shares of the business’s stock in a transaction dated Thursday, November 6th. The shares were sold at an average price of $57.68, for a total transaction of $288,400.00. Following the completion of the sale, the chief executive officer directly owned 372,985 shares of the company’s stock, valued at $21,513,774.80. This represents a 1.32% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 11,600 shares of company stock worth $690,834. 1.97% of the stock is owned by company insiders.

Hedge Funds Weigh In On Blackbaud

Several hedge funds have recently bought and sold shares of the company. Trust Point Inc. grew its holdings in shares of Blackbaud by 3.2% during the 4th quarter. Trust Point Inc. now owns 6,014 shares of the technology company’s stock valued at $381,000 after purchasing an additional 184 shares during the last quarter. Glenmede Investment Management LP raised its position in shares of Blackbaud by 2.1% during the third quarter. Glenmede Investment Management LP now owns 10,492 shares of the technology company’s stock worth $675,000 after acquiring an additional 215 shares during the last quarter. GAMMA Investing LLC increased its position in Blackbaud by 46.6% during the 3rd quarter. GAMMA Investing LLC now owns 777 shares of the technology company’s stock valued at $50,000 after purchasing an additional 247 shares during the period. Comerica Bank raised its stake in Blackbaud by 1.0% during the fourth quarter. Comerica Bank now owns 24,847 shares of the technology company’s stock worth $1,573,000 after buying an additional 255 shares during the last quarter. Finally, CWM LLC grew its holdings in Blackbaud by 215.9% during the 2nd quarter. CWM LLC now owns 458 shares of the technology company’s stock worth $29,000 after acquiring an additional 313 shares during the period. 94.21% of the stock is owned by institutional investors.

Blackbaud Company Profile

Blackbaud, Inc is a leading provider of cloud software, services and data intelligence solutions designed specifically for the social good community. The company’s main offerings include fundraising and relationship management platforms, financial management systems, grant and award management tools, and advanced analytics. Its flagship products—such as Raiser’s Edge NXT, Blackbaud Financial Edge NXT and Blackbaud NetCommunity—help nonprofit organizations, educational institutions, healthcare providers and foundations streamline donor engagement, optimize financial operations and measure program impact.

Founded in 1981 and headquartered in Charleston, South Carolina, Blackbaud has grown from a small technology startup into a global specialist in nonprofit software.