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

Blackbaud, Inc. (NASDAQ:BLKB)’s stock price hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $47.89 and last traded at $48.55, with a volume of 652327 shares trading hands. The stock had previously closed at $52.36.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Wall Street Zen upgraded Blackbaud from a “hold” rating to a “buy” rating in a research note on Sunday, November 9th. Stifel Nicolaus set a $70.00 price target on shares of Blackbaud in a report on Wednesday, October 29th. Weiss Ratings restated a “sell (d)” rating on shares of Blackbaud in a research note on Wednesday, January 21st. Finally, Zacks Research lowered Blackbaud from a “strong-buy” rating to a “hold” rating in a report on Monday, December 29th. Three equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Reduce” and an average target price of $73.00.

Blackbaud Stock Up 2.6%

The company has a market cap of $2.27 billion, a PE ratio of -9.13, a PEG ratio of 1.71 and a beta of 1.10. The stock’s 50 day moving average price is $59.34 and its 200-day moving average price is $62.27. The company has a debt-to-equity ratio of 9.63, a quick ratio of 0.69 and a current ratio of 0.69.

Insider Buying and Selling at Blackbaud

In related news, Director Rupal S. Hollenbeck sold 1,600 shares of the stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $56.49, for a total transaction of $90,384.00. Following the completion of the sale, the director directly owned 6,366 shares in the company, valued at $359,615.34. This represents a 20.09% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 1.97% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in BLKB. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Blackbaud by 143,409.7% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,207,179 shares of the technology company’s stock worth $139,759,000 after buying an additional 2,205,641 shares in the last quarter. Vanguard Group Inc. lifted its position in Blackbaud by 14.7% in the 3rd quarter. Vanguard Group Inc. now owns 5,516,432 shares of the technology company’s stock valued at $354,762,000 after acquiring an additional 706,695 shares in the last quarter. SG Capital Management LLC raised its stake in shares of Blackbaud by 777.3% in the third quarter. SG Capital Management LLC now owns 598,547 shares of the technology company’s stock worth $38,493,000 after purchasing an additional 530,320 shares during the last quarter. Norges Bank purchased a new stake in shares of Blackbaud during the second quarter valued at $31,503,000. Finally, Shapiro Capital Management LLC lifted its stake in Blackbaud by 248.3% during the 3rd quarter. Shapiro Capital Management LLC now owns 419,189 shares of the technology company’s stock valued at $26,958,000 after acquiring an additional 298,839 shares during the period. Hedge funds and other institutional investors own 94.21% of the company’s stock.

Blackbaud Company Profile

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.