Blackbaud (NASDAQ:BLKB) Hits New 1-Year Low - Here's What Happened

Blackbaud, Inc. (NASDAQ:BLKB - Get Free Report)'s stock price reached a new 52-week low on Monday . The stock traded as low as $61.22 and last traded at $61.50, with a volume of 6423 shares changing hands. The stock had previously closed at $62.11.

Wall Street Analyst Weigh In

Separately, Robert W. Baird dropped their price target on shares of Blackbaud from $80.00 to $76.00 and set a "neutral" rating on the stock in a research report on Wednesday, February 19th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Blackbaud currently has an average rating of "Hold" and a consensus price target of $85.33.

Blackbaud Price Performance

The company has a current ratio of 0.78, a quick ratio of 0.68 and a debt-to-equity ratio of 7.40. The company has a market capitalization of $3.13 billion, a P/E ratio of -10.76 and a beta of 1.08. The company has a 50 day moving average price of $69.98 and a 200 day moving average price of $77.18.

Blackbaud (NASDAQ:BLKB - Get Free Report) last released its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.58 EPS for the quarter, missing the consensus estimate of $1.08 by ($0.50). The company had revenue of $302.23 million during the quarter, compared to analyst estimates of $303.41 million. Blackbaud had a negative net margin of 24.83% and a positive return on equity of 26.30%. On average, equities analysts predict that Blackbaud, Inc. will post 3.05 EPS for the current fiscal year.

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Institutional Investors Weigh In On Blackbaud

Hedge funds have recently bought and sold shares of the stock. Norges Bank bought a new position in shares of Blackbaud during the fourth quarter worth approximately $34,168,000. ArrowMark Colorado Holdings LLC grew its holdings in Blackbaud by 22.5% in the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 1,283,473 shares of the technology company's stock valued at $108,684,000 after buying an additional 235,859 shares in the last quarter. Wellington Management Group LLP increased its position in Blackbaud by 56.0% during the 3rd quarter. Wellington Management Group LLP now owns 429,051 shares of the technology company's stock worth $36,332,000 after buying an additional 154,019 shares during the period. Penn Capital Management Company LLC acquired a new stake in shares of Blackbaud during the fourth quarter worth $10,581,000. Finally, Bank of New York Mellon Corp boosted its position in shares of Blackbaud by 41.0% in the fourth quarter. Bank of New York Mellon Corp now owns 482,561 shares of the technology company's stock valued at $35,671,000 after acquiring an additional 140,273 shares during the period. 94.21% of the stock is currently owned by institutional investors and hedge funds.

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.