Blackbaud (NASDAQ:BLKB) Shares Gap Down – Time to Sell?

Blackbaud, Inc. (NASDAQ:BLKB) shares gapped down before the market opened on Thursday . The stock had previously closed at $28.63, but opened at $27.51. Blackbaud shares last traded at $27.6450, with a volume of 44,839 shares trading hands.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Zacks Research lowered Blackbaud from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 13th. Stifel Nicolaus cut their price objective on Blackbaud from $45.00 to $30.00 and set a “hold” rating on the stock in a research report on Friday. Robert W. Baird upgraded Blackbaud from a “neutral” rating to an “outperform” rating and reduced their target price for the stock from $60.00 to $50.00 in a research note on Thursday, April 30th. Finally, Weiss Ratings upgraded Blackbaud from a “sell (d)” rating to a “sell (d+)” rating in a research note on Wednesday. One research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Blackbaud has an average rating of “Hold” and a consensus target price of $48.75.

Blackbaud Price Performance

The company has a debt-to-equity ratio of 33.66, a quick ratio of 0.74 and a current ratio of 0.74. The firm has a market capitalization of $1.36 billion, a P/E ratio of 10.03, a P/E/G ratio of 1.04 and a beta of 1.01. The stock’s 50 day simple moving average is $30.11 and its 200 day simple moving average is $42.09.

Blackbaud (NASDAQ:BLKB) last posted its quarterly earnings results on Wednesday, April 29th. The technology company reported $1.14 earnings per share for the quarter, beating the consensus estimate of $1.08 by $0.06. The firm had revenue of $281.14 million during the quarter, compared to the consensus estimate of $279.81 million. Blackbaud had a net margin of 12.41% and a return on equity of 176.76%. The company’s revenue was up 4.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.96 earnings per share. Blackbaud has set its FY 2026 guidance at 5.150-5.250 EPS. As a group, analysts expect that Blackbaud, Inc. will post 3.57 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Blackbaud news, CFO Chad Anderson sold 6,205 shares of Blackbaud stock in a transaction on Monday, June 1st. The stock was sold at an average price of $31.31, for a total transaction of $194,278.55. Following the completion of the sale, the chief financial officer directly owned 62,869 shares of the company’s stock, valued at $1,968,428.39. The trade was a 8.98% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.97% of the stock is owned by insiders.

Hedge Funds Weigh In On Blackbaud

Institutional investors have recently made changes to their positions in the company. Wedge Capital Management L L P NC lifted its stake in Blackbaud by 117.1% in the second quarter. Wedge Capital Management L L P NC now owns 101,975 shares of the technology company’s stock worth $3,020,000 after acquiring an additional 54,997 shares during the period. GAMMA Investing LLC increased its position in Blackbaud by 127.6% during the 2nd quarter. GAMMA Investing LLC now owns 2,226 shares of the technology company’s stock valued at $66,000 after purchasing an additional 1,248 shares during the period. MassMutual Private Wealth & Trust FSB increased its position in Blackbaud by 1,147.7% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 1,360 shares of the technology company’s stock valued at $40,000 after purchasing an additional 1,251 shares during the period. Versant Capital Management Inc raised its holdings in shares of Blackbaud by 243.9% in the 2nd quarter. Versant Capital Management Inc now owns 1,286 shares of the technology company’s stock valued at $38,000 after purchasing an additional 912 shares in the last quarter. Finally, Pacer Advisors Inc. raised its holdings in shares of Blackbaud by 2,958.2% in the 1st quarter. Pacer Advisors Inc. now owns 187,557 shares of the technology company’s stock valued at $7,242,000 after purchasing an additional 181,424 shares in the last quarter. 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.