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

Shares of Blackbaud, Inc. (NASDAQ:BLKB) hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $58.00 and last traded at $57.82, with a volume of 65697 shares trading hands. The stock had previously closed at $59.58.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on BLKB. Wall Street Zen downgraded shares of Blackbaud from a “buy” rating to a “hold” rating in a report on Saturday, November 1st. Weiss Ratings restated a “sell (d)” rating on shares of Blackbaud in a research report on Wednesday, October 8th. Zacks Research raised Blackbaud from a “hold” rating to a “strong-buy” rating in a research note on Monday. Finally, Stifel Nicolaus set a $70.00 price objective on Blackbaud in a report on Wednesday, October 29th. One 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. Based on data from MarketBeat.com, Blackbaud presently has an average rating of “Hold” and an average price target of $73.00.

Blackbaud Price Performance

The company has a current ratio of 0.69, a quick ratio of 0.84 and a debt-to-equity ratio of 9.63. The stock has a market cap of $2.79 billion, a price-to-earnings ratio of -11.06, a P/E/G ratio of 4.75 and a beta of 1.08. The company has a 50 day simple moving average of $65.25 and a 200-day simple moving average of $64.18.

Blackbaud (NASDAQ:BLKB) last issued its quarterly earnings results on Monday, March 4th. The technology company reported $0.68 EPS for the quarter. The firm had revenue of $274.76 million for the quarter. Blackbaud had a negative net margin of 22.57% and a positive return on equity of 137.13%. Research analysts expect that Blackbaud, Inc. will post 3.05 EPS for the current year.

Insider Activity

In other news, Director Rupal S. Hollenbeck sold 2,500 shares of the company’s stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $63.98, for a total transaction of $159,950.00. Following the sale, the director owned 7,966 shares in the company, valued at $509,664.68. This represents a 23.89% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. 1.97% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Avantax Advisory Services Inc. lifted its stake in shares of Blackbaud by 1.8% in the first quarter. Avantax Advisory Services Inc. now owns 11,816 shares of the technology company’s stock valued at $733,000 after buying an additional 210 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of Blackbaud by 11.2% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,300 shares of the technology company’s stock valued at $143,000 after purchasing an additional 231 shares during the last quarter. GAMMA Investing LLC grew its position in Blackbaud by 46.6% in the 3rd quarter. GAMMA Investing LLC now owns 777 shares of the technology company’s stock worth $50,000 after purchasing an additional 247 shares in the last quarter. Aristides Capital LLC boosted its stake in shares of Blackbaud by 7.8% in the 1st quarter. Aristides Capital LLC now owns 4,142 shares of the technology company’s stock worth $257,000 after buying an additional 298 shares during the last quarter. Finally, CWM LLC lifted its holdings in Blackbaud by 215.9% during the second 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. Institutional investors own 94.21% of the company’s stock.

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.