Arrowstreet Capital Limited Partnership Buys 104,663 Shares of Blackbaud, Inc. $BLKB

Arrowstreet Capital Limited Partnership grew its stake in shares of Blackbaud, Inc. (NASDAQ:BLKB) by 50.2% during the first quarter, HoldingsChannel.com reports. The fund owned 312,992 shares of the technology company’s stock after buying an additional 104,663 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in Blackbaud were worth $12,085,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Blackbaud by 143,409.7% in the 4th 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 during the last quarter. Norges Bank purchased a new stake in Blackbaud during the fourth quarter valued at $29,846,000. AQR Capital Management LLC increased its position in Blackbaud by 157.3% during the fourth quarter. AQR Capital Management LLC now owns 767,792 shares of the technology company’s stock valued at $48,617,000 after acquiring an additional 469,391 shares during the last quarter. Shapiro Capital Management LLC lifted its holdings in Blackbaud by 248.3% in the third 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. Finally, Tudor Investment Corp ET AL bought a new position in Blackbaud in the third quarter valued at about $10,586,000. 94.21% of the stock is currently owned by institutional investors.

Blackbaud Stock Up 6.8%

NASDAQ BLKB opened at $42.80 on Friday. The stock’s 50-day moving average price is $30.39 and its 200-day moving average price is $39.10. The company has a quick ratio of 0.74, a current ratio of 0.83 and a debt-to-equity ratio of 16.82. Blackbaud, Inc. has a 52 week low of $25.58 and a 52 week high of $70.94. The company has a market capitalization of $1.94 billion, a P/E ratio of 13.37, a price-to-earnings-growth ratio of 1.43 and a beta of 1.01.

Blackbaud (NASDAQ:BLKB) last posted its quarterly earnings data on Wednesday, July 29th. The technology company reported $1.33 earnings per share for the quarter, beating analysts’ consensus estimates of $1.23 by $0.10. The firm had revenue of $290.60 million for the quarter, compared to analysts’ expectations of $292.23 million. Blackbaud had a return on equity of 197.49% and a net margin of 13.12%.The business’s quarterly revenue was up 3.3% on a year-over-year basis. During the same period in the previous year, the firm earned $1.21 EPS. Blackbaud has set its FY 2026 guidance at 5.150-5.250 EPS. On average, equities research analysts predict that Blackbaud, Inc. will post 3.57 earnings per share for the current year.

Insider Buying and Selling

In other Blackbaud news, CFO Chad Anderson sold 6,205 shares of Blackbaud stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $31.31, for a total transaction of $194,278.55. Following the transaction, the chief financial officer owned 62,869 shares of the company’s stock, valued at $1,968,428.39. The trade was a 8.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 2.01% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on BLKB shares. Zacks Research downgraded Blackbaud from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 13th. Weiss Ratings cut shares of Blackbaud from a “sell (d+)” rating to a “sell (d)” rating in a research note on Thursday, July 23rd. Stifel Nicolaus dropped their price objective on shares of Blackbaud from $45.00 to $30.00 and set a “hold” rating on the stock in a report on Friday, July 10th. Robert W. Baird set a $54.00 target price on shares of Blackbaud in a research report on Thursday. Finally, Raymond James Financial reaffirmed an “outperform” rating and set a $55.00 target price on shares of Blackbaud in a report on Wednesday. Two analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $48.50.

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.