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 Wednesday . The company traded as low as $66.01 and last traded at $65.89, with a volume of 199361 shares changing hands. The stock had previously closed at $66.86.

Analyst Ratings Changes

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

Blackbaud Trading Up 1.5 %

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 firm has a market capitalization of $3.25 billion, a P/E ratio of -11.20 and a beta of 1.08. The firm has a 50-day moving average of $75.12 and a two-hundred day moving average of $79.87.

Blackbaud (NASDAQ:BLKB - Get Free Report) last announced its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $303.41 million. On average, analysts anticipate that Blackbaud, Inc. will post 3.05 EPS for the current year.

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Institutional Trading of Blackbaud

Several institutional investors and hedge funds have recently modified their holdings of the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Blackbaud by 20.9% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 97,573 shares of the technology company's stock worth $7,213,000 after purchasing an additional 16,890 shares in the last quarter. Voloridge Investment Management LLC increased its holdings in Blackbaud by 350.9% in the 4th quarter. Voloridge Investment Management LLC now owns 95,632 shares of the technology company's stock worth $7,069,000 after purchasing an additional 74,422 shares in the last quarter. Waverly Advisors LLC increased its holdings in Blackbaud by 22.7% in the 4th quarter. Waverly Advisors LLC now owns 20,503 shares of the technology company's stock worth $1,516,000 after purchasing an additional 3,790 shares in the last quarter. Two Sigma Investments LP increased its holdings in Blackbaud by 20.3% in the 4th quarter. Two Sigma Investments LP now owns 3,076 shares of the technology company's stock worth $227,000 after purchasing an additional 518 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in Blackbaud in the 4th quarter worth about $216,000. 94.21% of the stock is currently owned by institutional investors.

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.