Blackbaud (NASDAQ:BLKB) Reaches New 52-Week Low – Time to Sell?

Blackbaud, Inc. (NASDAQ:BLKB) shares reached a new 52-week low during trading on Friday . The company traded as low as $62.76 and last traded at $63.13, with a volume of 1238589 shares trading hands. The stock had previously closed at $63.93.

Wall Street Analysts Forecast Growth

Separately, Robert W. Baird lowered their price target on Blackbaud from $80.00 to $76.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 19th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $85.33.

Blackbaud Stock Performance

The company has a debt-to-equity ratio of 7.40, a current ratio of 0.78 and a quick ratio of 0.68. The stock has a market cap of $3.11 billion, a PE ratio of -10.70 and a beta of 1.08. The business has a 50 day moving average price of $72.25 and a two-hundred day moving average price of $78.35.

Blackbaud (NASDAQ:BLKB) 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 negative net margin of 24.83% and a positive return on equity of 26.30%. The firm had revenue of $302.23 million for the quarter, compared to analysts’ expectations of $303.41 million. As a group, equities research analysts forecast that Blackbaud, Inc. will post 3.05 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of 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 buying an additional 16,890 shares during the last quarter. Voloridge Investment Management LLC boosted its holdings in Blackbaud by 350.9% in the fourth quarter. Voloridge Investment Management LLC now owns 95,632 shares of the technology company’s stock valued at $7,069,000 after acquiring an additional 74,422 shares in the last quarter. Waverly Advisors LLC increased its position in Blackbaud by 22.7% during the 4th quarter. Waverly Advisors LLC now owns 20,503 shares of the technology company’s stock valued at $1,516,000 after purchasing an additional 3,790 shares during the period. Two Sigma Investments LP lifted its position in shares of 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 during the period. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Blackbaud during the 4th quarter valued at about $216,000. Hedge funds and other institutional investors 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.