Blackbaud (NASDAQ:BLKB) Reaches New 1-Year Low at $44.97

Blackbaud, Inc. (NASDAQ:BLKBGet Rating)’s share price reached a new 52-week low during trading on Tuesday . The stock traded as low as $44.97 and last traded at $44.97, with a volume of 350 shares changing hands. The stock had previously closed at $45.75.

Blackbaud Stock Performance

The firm’s fifty day moving average price is $54.55 and its 200 day moving average price is $57.14. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 1.28. The firm has a market capitalization of $2.36 billion, a PE ratio of -153.20, a PEG ratio of 20.54 and a beta of 1.01.

Blackbaud (NASDAQ:BLKBGet Rating) last posted its quarterly earnings results on Tuesday, August 2nd. The technology company reported $0.32 EPS for the quarter, beating the consensus estimate of $0.19 by $0.13. Blackbaud had a negative net margin of 1.47% and a positive return on equity of 8.04%. The business had revenue of $264.93 million for the quarter, compared to analysts’ expectations of $266.96 million. During the same period in the previous year, the company posted $0.32 EPS. On average, research analysts anticipate that Blackbaud, Inc. will post 0.75 earnings per share for the current year.

Insider Activity at Blackbaud

In related news, COO Kevin P. Gregoire sold 1,800 shares of Blackbaud stock in a transaction on Thursday, August 11th. The shares were sold at an average price of $57.10, for a total value of $102,780.00. Following the completion of the sale, the chief operating officer now owns 98,381 shares of the company’s stock, valued at approximately $5,617,555.10. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, Director George H. Ellis sold 1,500 shares of Blackbaud stock in a transaction on Tuesday, August 9th. The shares were sold at an average price of $56.18, for a total value of $84,270.00. Following the completion of the sale, the director now owns 11,456 shares of the company’s stock, valued at approximately $643,598.08. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Kevin P. Gregoire sold 1,800 shares of Blackbaud stock in a transaction on Thursday, August 11th. The shares were sold at an average price of $57.10, for a total transaction of $102,780.00. Following the completion of the sale, the chief operating officer now directly owns 98,381 shares of the company’s stock, valued at approximately $5,617,555.10. The disclosure for this sale can be found here. 1.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On Blackbaud

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Clearlake Capital Group L.P. lifted its position in shares of Blackbaud by 33.5% during the 2nd quarter. Clearlake Capital Group L.P. now owns 9,751,837 shares of the technology company’s stock worth $566,289,000 after purchasing an additional 2,445,882 shares during the last quarter. BlackRock Inc. grew its holdings in Blackbaud by 3.6% in the 1st quarter. BlackRock Inc. now owns 5,320,025 shares of the technology company’s stock valued at $318,510,000 after buying an additional 186,768 shares during the last quarter. Vanguard Group Inc. grew its holdings in Blackbaud by 7.4% in the 1st quarter. Vanguard Group Inc. now owns 4,916,663 shares of the technology company’s stock valued at $294,361,000 after buying an additional 339,922 shares during the last quarter. Van ECK Associates Corp grew its holdings in Blackbaud by 5.8% in the 1st quarter. Van ECK Associates Corp now owns 2,648,161 shares of the technology company’s stock valued at $158,546,000 after buying an additional 144,729 shares during the last quarter. Finally, State Street Corp grew its holdings in Blackbaud by 5.9% in the 1st quarter. State Street Corp now owns 1,534,927 shares of the technology company’s stock valued at $91,896,000 after buying an additional 85,570 shares during the last quarter. 98.64% of the stock is owned by institutional investors and hedge funds.

Blackbaud Company Profile

(Get Rating)

Blackbaud, Inc provides cloud software solutions to higher education institutions, K-12 schools, healthcare organizations, faith communities, arts and cultural organizations, foundations, companies, and individual change agents in the United States and internationally. The company offers fundraising and relationship management solutions, such as Blackbaud Raiser's Edge NXT and Blackbaud CRM, Blackbaud eTapestry, Blackbaud TeamRaiser, JustGiving, and Blackbaud Guided Fundraising and Blackbaud Volunteer Network Fundraising; marketing and engagement solutions, including Blackbaud Luminate Online, Blackbaud Online Express, and Blackbaud School Website System; and financial management solutions comprising Blackbaud Financial Edge NXT, Blackbaud Tuition Management, and Blackbaud Financial Aid Management.

Further Reading

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