Blackbaud (NASDAQ:BLKB) Reaches New 1-Year Low – Here’s What Happened

Blackbaud, Inc. (NASDAQ:BLKB) reached a new 52-week low on Tuesday . The stock traded as low as $54.29 and last traded at $54.97, with a volume of 12359 shares trading hands. The stock had previously closed at $55.48.

Wall Street Analyst Weigh In

BLKB has been the topic of a number of recent research reports. Stifel Nicolaus set a $70.00 target price on Blackbaud in a report on Wednesday, October 29th. Weiss Ratings reissued a “sell (d)” rating on shares of Blackbaud in a report on Wednesday, October 8th. Zacks Research cut shares of Blackbaud from a “strong-buy” rating to a “hold” rating in a report on Monday, December 29th. Finally, Wall Street Zen upgraded shares of Blackbaud from a “hold” rating to a “buy” rating in a research report on Sunday, November 9th. Three equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Reduce” and an average price target of $73.00.

Blackbaud Price Performance

The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 9.63. The firm’s fifty day moving average price is $60.28 and its 200 day moving average price is $63.10. The stock has a market cap of $2.68 billion, a PE ratio of -10.77, a P/E/G ratio of 2.03 and a beta of 1.07.

Blackbaud (NASDAQ:BLKB) last announced its quarterly earnings results on Wednesday, October 29th. The technology company reported $1.10 EPS for the quarter, topping the consensus estimate of $1.07 by $0.03. The business had revenue of $281.14 million for the quarter, compared to analysts’ expectations of $279.21 million. Blackbaud had a negative net margin of 22.57% and a positive return on equity of 137.13%. The business’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.99 EPS. Blackbaud has set its FY 2025 guidance at 4.300-4.500 EPS. As a group, equities analysts expect that Blackbaud, Inc. will post 3.05 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Rupal S. Hollenbeck sold 1,600 shares of the business’s stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $56.49, for a total value of $90,384.00. Following the sale, the director directly owned 6,366 shares in the company, valued at $359,615.34. The trade was a 20.09% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Michael P. Gianoni sold 5,000 shares of the stock in a transaction dated Thursday, November 6th. The shares were sold at an average price of $57.68, for a total transaction of $288,400.00. Following the completion of the transaction, the chief executive officer directly owned 372,985 shares of the company’s stock, valued at approximately $21,513,774.80. The trade was a 1.32% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 11,600 shares of company stock valued at $690,834. 1.97% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Blackbaud

Institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. grew its holdings in Blackbaud by 14.7% during the 3rd quarter. Vanguard Group Inc. now owns 5,516,432 shares of the technology company’s stock worth $354,762,000 after acquiring an additional 706,695 shares in the last quarter. Geneva Capital Management LLC increased its holdings in Blackbaud by 6.6% during the second quarter. Geneva Capital Management LLC now owns 1,221,745 shares of the technology company’s stock valued at $78,448,000 after buying an additional 75,675 shares during the period. Greenhouse Funds LLLP raised its stake in Blackbaud by 13.7% in the third quarter. Greenhouse Funds LLLP now owns 802,904 shares of the technology company’s stock worth $51,635,000 after buying an additional 96,457 shares in the last quarter. P2 Capital Partners LLC raised its stake in Blackbaud by 28.4% in the third quarter. P2 Capital Partners LLC now owns 630,303 shares of the technology company’s stock worth $40,535,000 after buying an additional 139,549 shares in the last quarter. Finally, SG Capital Management LLC lifted its holdings in Blackbaud by 777.3% during the third quarter. SG Capital Management LLC now owns 598,547 shares of the technology company’s stock worth $38,493,000 after buying an additional 530,320 shares during the period. 94.21% of the stock is owned by institutional investors.

About Blackbaud

Blackbaud, Inc is a leading provider of cloud software, services and data intelligence solutions designed specifically for the social good community. The company’s main offerings include fundraising and relationship management platforms, financial management systems, grant and award management tools, and advanced analytics. Its flagship products—such as Raiser’s Edge NXT, Blackbaud Financial Edge NXT and Blackbaud NetCommunity—help nonprofit organizations, educational institutions, healthcare providers and foundations streamline donor engagement, optimize financial operations and measure program impact.

Founded in 1981 and headquartered in Charleston, South Carolina, Blackbaud has grown from a small technology startup into a global specialist in nonprofit software.