Blackbaud (NASDAQ:BLKB) Reaches New 12-Month Low - Time to Sell?

Shares of Blackbaud, Inc. (NASDAQ:BLKB - Get Free Report) hit a new 52-week low during trading on Tuesday . The company traded as low as $64.65 and last traded at $65.04, with a volume of 27638 shares traded. The stock had previously closed at $65.31.

Analyst Upgrades and Downgrades

Separately, Robert W. Baird dropped their target price on shares of Blackbaud from $80.00 to $76.00 and set a "neutral" rating on the stock in a research note 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.com, the company presently has an average rating of "Hold" and an average target price of $85.33.

Blackbaud Price Performance

The firm's 50-day moving average price is $74.03 and its two-hundred day moving average price is $79.40. The stock has a market cap of $3.24 billion, a PE ratio of -11.14 and a beta of 1.08. The company has a current ratio of 0.78, a quick ratio of 0.68 and a debt-to-equity ratio of 7.40.

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

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Institutional Investors Weigh In On Blackbaud

A number of hedge funds and other institutional investors have recently bought and sold shares of BLKB. First Personal Financial Services lifted its position in Blackbaud by 25.9% during the third quarter. First Personal Financial Services now owns 16,640 shares of the technology company's stock valued at $1,409,000 after acquiring an additional 3,424 shares during the last quarter. Legacy Capital Wealth Partners LLC lifted its position in Blackbaud by 94.9% during the third quarter. Legacy Capital Wealth Partners LLC now owns 5,153 shares of the technology company's stock valued at $436,000 after acquiring an additional 2,509 shares during the last quarter. State of New Jersey Common Pension Fund D lifted its position in Blackbaud by 0.6% during the third quarter. State of New Jersey Common Pension Fund D now owns 24,152 shares of the technology company's stock valued at $2,045,000 after acquiring an additional 151 shares during the last quarter. Geneva Capital Management LLC lifted its position in Blackbaud by 0.4% during the third quarter. Geneva Capital Management LLC now owns 1,175,493 shares of the technology company's stock valued at $99,541,000 after acquiring an additional 4,122 shares during the last quarter. Finally, Natixis Advisors LLC lifted its position in Blackbaud by 8.6% during the third quarter. Natixis Advisors LLC now owns 18,912 shares of the technology company's stock valued at $1,601,000 after acquiring an additional 1,492 shares during the last quarter. Hedge funds and other 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.