Blackbaud (NASDAQ:BLKB) Trading Up 7.1% – Here’s What Happened

Shares of Blackbaud, Inc. (NASDAQ:BLKB) were up 7.1% during mid-day trading on Thursday . The company traded as high as $33.48 and last traded at $33.79. Approximately 260,604 shares were traded during trading, a decline of 59% from the average daily volume of 640,649 shares. The stock had previously closed at $31.55.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Zacks Research downgraded Blackbaud from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 13th. Stifel Nicolaus dropped their price target on shares of Blackbaud from $45.00 to $30.00 and set a “hold” rating for the company in a research report on Friday, July 10th. Weiss Ratings upgraded shares of Blackbaud from a “sell (d)” rating to a “sell (d+)” rating in a research note on Wednesday, July 8th. Finally, Robert W. Baird raised Blackbaud from a “neutral” rating to an “outperform” rating and decreased their price target for the company from $60.00 to $50.00 in a report on Thursday, April 30th. One research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $48.75.

Blackbaud Price Performance

The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 33.66. The company has a market capitalization of $1.53 billion, a PE ratio of 11.29, a price-to-earnings-growth ratio of 1.06 and a beta of 1.01. The firm’s 50 day simple moving average is $29.77 and its 200 day simple moving average is $41.25.

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

Insider Buying and Selling at Blackbaud

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

Institutional Trading of Blackbaud

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Wedge Capital Management L L P NC lifted its position in Blackbaud by 117.1% during the 2nd 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 grew its holdings in Blackbaud by 127.6% in the second 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 holdings in Blackbaud by 1,147.7% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 1,360 shares of the technology company’s stock worth $40,000 after acquiring an additional 1,251 shares in the last quarter. Versant Capital Management Inc increased its stake in shares of Blackbaud by 243.9% during the second quarter. Versant Capital Management Inc now owns 1,286 shares of the technology company’s stock worth $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% during the first quarter. Pacer Advisors Inc. now owns 187,557 shares of the technology company’s stock valued at $7,242,000 after acquiring an additional 181,424 shares during 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.