Palisade Capital Management LP Buys Shares of 208,339 Blackbaud, Inc. $BLKB

Palisade Capital Management LP bought a new position in shares of Blackbaud, Inc. (NASDAQ:BLKB) in the 2nd quarter, HoldingsChannel reports. The fund bought 208,339 shares of the technology company’s stock, valued at approximately $6,171,000.

Other institutional investors have also made changes to their positions in the company. Canada Pension Plan Investment Board acquired a new position in shares of Blackbaud in the 2nd quarter worth approximately $471,000. Legal & General Group Plc acquired a new stake in Blackbaud in the 2nd quarter valued at approximately $2,423,000. The Manufacturers Life Insurance Company acquired a new stake in Blackbaud in the 2nd quarter valued at approximately $524,000. Sone Capital Management LLC purchased a new stake in Blackbaud in the second quarter valued at approximately $2,584,000. Finally, L2 Asset Management LLC purchased a new stake in Blackbaud in the second quarter valued at approximately $370,000. 94.21% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Blackbaud

In related news, EVP Kevin P. Gregoire sold 22,000 shares of the business’s stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $45.50, for a total transaction of $1,001,000.00. Following the completion of the transaction, the executive vice president directly owned 113,194 shares of the company’s stock, valued at $5,150,327. The trade was a 16.27% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Chad Anderson sold 6,205 shares of the business’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $31.31, for a total value of $194,278.55. Following the transaction, 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 ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.01% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

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

Blackbaud Price Performance

Shares of BLKB opened at $47.42 on Wednesday. The company has a market cap of $2.15 billion, a P/E ratio of 14.82, a PEG ratio of 1.65 and a beta of 0.97. Blackbaud, Inc. has a fifty-two week low of $25.58 and a fifty-two week high of $70.71. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 16.82. The firm’s 50 day moving average price is $36.11 and its 200 day moving average price is $37.87.

Blackbaud (NASDAQ:BLKB) last issued its quarterly earnings results on Wednesday, July 29th. The technology company reported $1.33 EPS for the quarter, beating the consensus estimate of $1.23 by $0.10. The company had revenue of $290.60 million during 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%. The firm’s revenue was up 3.3% compared to the same quarter last year. During the same quarter last year, the company posted $1.21 EPS. Blackbaud has set its FY 2026 guidance at 5.150-5.250 EPS. On average, research analysts forecast that Blackbaud, Inc. will post 3.71 earnings per share for the current fiscal year.

About Blackbaud

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.