BlackRock Inc. Takes Position in Blackbaud, Inc. $BLKB

BlackRock Inc. purchased a new position in shares of Blackbaud, Inc. (NASDAQ:BLKB) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 5,980,843 shares of the technology company’s stock, valued at approximately $177,153,000. BlackRock Inc. owned 0.13% of Blackbaud as of its most recent filing with the SEC.

Several other large investors also recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. raised its stake in 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 valued at $139,759,000 after acquiring an additional 2,205,641 shares during the period. Norges Bank purchased a new stake in Blackbaud during the fourth quarter valued at about $29,846,000. AQR Capital Management LLC boosted 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 worth $48,617,000 after purchasing an additional 469,391 shares during the period. Shapiro Capital Management LLC increased its stake in shares of Blackbaud by 248.3% in the third quarter. Shapiro Capital Management LLC now owns 419,189 shares of the technology company’s stock worth $26,958,000 after purchasing an additional 298,839 shares in the last quarter. Finally, Bank of New York Mellon Corp purchased a new position in shares of Blackbaud in the second quarter worth about $7,067,000. Hedge funds and other institutional investors own 94.21% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on BLKB. Weiss Ratings raised shares of Blackbaud from a “sell (d)” rating to a “sell (d+)” rating in a report on Thursday, August 6th. Robert W. Baird set a $54.00 price target on Blackbaud in a report on Thursday, July 30th. Raymond James Financial reiterated an “outperform” rating and set a $55.00 price objective on shares of Blackbaud in a research note on Wednesday, July 29th. Finally, Stifel Nicolaus dropped their price objective on Blackbaud from $45.00 to $30.00 and set a “hold” rating on the stock in a report on Friday, July 10th. Two analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $48.50.

Insiders Place Their Bets

In other news, EVP Kevin P. Gregoire sold 22,000 shares of Blackbaud stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $45.50, for a total transaction of $1,001,000.00. Following the completion of the sale, the executive vice president directly owned 113,194 shares of the company’s stock, valued at approximately $5,150,327. The trade was a 16.27% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Michael P. Gianoni sold 17,000 shares of Blackbaud stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $47.35, for a total transaction of $804,950.00. Following the sale, the chief executive officer directly owned 423,264 shares of the company’s stock, valued at $20,041,550.40. This represents a 3.86% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 45,205 shares of company stock valued at $2,000,229 in the last quarter. Corporate insiders own 2.01% of the company’s stock.

Blackbaud Price Performance

Shares of NASDAQ BLKB opened at $48.57 on Friday. The stock’s 50-day simple moving average is $36.94 and its two-hundred day simple moving average is $37.88. Blackbaud, Inc. has a twelve month low of $25.58 and a twelve month high of $70.71. The firm has a market capitalization of $2.20 billion, a P/E ratio of 15.18, a P/E/G ratio of 1.61 and a beta of 0.97. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 16.82.

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, topping the consensus estimate of $1.23 by $0.10. The company had revenue of $290.60 million for the quarter, compared to analysts’ expectations of $292.23 million. Blackbaud had a net margin of 13.12% and a return on equity of 197.49%. Blackbaud’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period in the prior year, the business earned $1.21 earnings per share. Blackbaud has set its FY 2026 guidance at 5.150-5.250 EPS. As a group, equities analysts anticipate that Blackbaud, Inc. will post 3.71 EPS for the current fiscal year.

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.