Blackbaud (NASDAQ:BLKB) Sets New 52-Week Low – What’s Next?

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

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Stifel Nicolaus set a $70.00 target price on Blackbaud in a research report on Wednesday, October 29th. Zacks Research downgraded shares of Blackbaud from a “strong-buy” rating to a “hold” rating in a report on Monday, December 29th. Wall Street Zen raised shares of Blackbaud from a “hold” rating to a “buy” rating in a report on Sunday, November 9th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Blackbaud in a research report on Wednesday, January 21st. Three equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus price target of $73.00.

Blackbaud Price Performance

The company has a debt-to-equity ratio of 9.63, a quick ratio of 0.69 and a current ratio of 0.69. The stock has a market capitalization of $2.53 billion, a price-to-earnings ratio of -10.16, a price-to-earnings-growth ratio of 2.02 and a beta of 1.07. The business’s 50 day simple moving average is $60.05 and its 200-day simple moving average is $62.81.

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

Insider Buying and Selling 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 transaction of $288,400.00. Following the completion of the transaction, the chief executive officer owned 372,985 shares in the company, valued at approximately $21,513,774.80. The trade was a 1.32% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Rupal S. Hollenbeck sold 1,600 shares of the firm’s stock in a transaction on Friday, November 21st. The shares were sold at an average price of $56.49, for a total value of $90,384.00. Following the transaction, the director directly owned 6,366 shares in the company, valued at $359,615.34. This trade represents a 20.09% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 11,600 shares of company stock worth $690,834 in the last ninety days. 1.97% of the stock is owned by company insiders.

Institutional Trading of Blackbaud

A number of institutional investors have recently made changes to their positions in BLKB. Vanguard Group Inc. raised its stake in shares of Blackbaud by 14.7% in the 3rd quarter. Vanguard Group Inc. now owns 5,516,432 shares of the technology company’s stock worth $354,762,000 after buying an additional 706,695 shares in the last quarter. SG Capital Management LLC grew its holdings in Blackbaud by 777.3% during the third quarter. SG Capital Management LLC now owns 598,547 shares of the technology company’s stock worth $38,493,000 after acquiring an additional 530,320 shares during the period. Norges Bank bought a new stake in Blackbaud in the second quarter worth about $31,503,000. Shapiro Capital Management LLC lifted its holdings in Blackbaud by 248.3% in the 3rd quarter. Shapiro Capital Management LLC now owns 419,189 shares of the technology company’s stock valued at $26,958,000 after acquiring an additional 298,839 shares during the last quarter. Finally, Tributary Capital Management LLC lifted its holdings in Blackbaud by 89.7% in the 3rd quarter. Tributary Capital Management LLC now owns 503,742 shares of the technology company’s stock valued at $32,396,000 after acquiring an additional 238,251 shares during the last quarter. 94.21% of the stock is owned by institutional investors and hedge funds.

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.