Blackbaud (NASDAQ:BLKB) Hits New 52-Week Low - Here's What Happened

Blackbaud, Inc. (NASDAQ:BLKB - Get Free Report)'s stock price reached a new 52-week low on Monday . The company traded as low as $59.70 and last traded at $60.83, with a volume of 102997 shares. The stock had previously closed at $62.20.

Analyst Upgrades and Downgrades

Separately, Robert W. Baird decreased their target price on shares of Blackbaud from $80.00 to $76.00 and set a "neutral" rating for the company in a research report on Wednesday, February 19th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $85.33.

Blackbaud Trading Up 1.5 %

The company has a quick ratio of 0.68, a current ratio of 0.78 and a debt-to-equity ratio of 7.40. The company's 50-day moving average is $66.83 and its 200-day moving average is $75.68. The stock has a market capitalization of $3.01 billion, a price-to-earnings ratio of -10.36 and a beta of 1.04.

Blackbaud (NASDAQ:BLKB - Get Free Report) 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 26.30% and a negative net margin of 24.83%. Research analysts anticipate that Blackbaud, Inc. will post 3.05 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Blackbaud

Several institutional investors have recently modified their holdings of the business. Versant Capital Management Inc boosted its position in shares of Blackbaud by 127.4% during the 1st quarter. Versant Capital Management Inc now owns 523 shares of the technology company's stock worth $32,000 after acquiring an additional 293 shares in the last quarter. Vestcor Inc acquired a new position in Blackbaud in the fourth quarter valued at approximately $75,000. TD Private Client Wealth LLC increased its stake in Blackbaud by 42.0% in the third quarter. TD Private Client Wealth LLC now owns 1,174 shares of the technology company's stock valued at $99,000 after purchasing an additional 347 shares during the last quarter. KBC Group NV raised its holdings in Blackbaud by 33.9% during the fourth quarter. KBC Group NV now owns 1,676 shares of the technology company's stock worth $124,000 after purchasing an additional 424 shares in the last quarter. Finally, Huntington National Bank lifted its position 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 buying an additional 227 shares during the last quarter. Institutional investors and hedge funds own 94.21% of the company's stock.

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.