Blackbaud, Inc. $BLKB is SG Capital Management LLC’s 8th Largest Position

SG Capital Management LLC boosted its position in shares of Blackbaud, Inc. (NASDAQ:BLKB) by 777.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 598,547 shares of the technology company’s stock after purchasing an additional 530,320 shares during the period. Blackbaud makes up 3.4% of SG Capital Management LLC’s portfolio, making the stock its 8th biggest position. SG Capital Management LLC owned 1.23% of Blackbaud worth $38,493,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Blackbaud by 14.7% during the third quarter. Vanguard Group Inc. now owns 5,516,432 shares of the technology company’s stock valued at $354,762,000 after acquiring an additional 706,695 shares in the last quarter. Norges Bank acquired a new stake in Blackbaud during the 2nd quarter valued at approximately $31,503,000. Tributary Capital Management LLC increased its holdings in Blackbaud by 89.7% during the 3rd quarter. Tributary Capital Management LLC now owns 503,742 shares of the technology company’s stock worth $32,396,000 after purchasing an additional 238,251 shares during the last quarter. Intrinsic Edge Capital Management LLC purchased a new stake in Blackbaud during the 2nd quarter worth approximately $13,575,000. Finally, Greenhouse Funds LLLP raised its position in shares of Blackbaud by 40.4% in the 2nd quarter. Greenhouse Funds LLLP now owns 706,447 shares of the technology company’s stock valued at $45,361,000 after purchasing an additional 203,350 shares in the last quarter. Institutional investors and hedge funds own 94.21% of the company’s stock.

Blackbaud Price Performance

BLKB opened at $49.51 on Thursday. The company has a quick ratio of 0.69, a current ratio of 0.79 and a debt-to-equity ratio of 12.78. The company’s 50-day moving average price is $57.13 and its 200 day moving average price is $61.15. Blackbaud, Inc. has a fifty-two week low of $45.71 and a fifty-two week high of $74.88. The firm has a market cap of $2.37 billion, a price-to-earnings ratio of 20.80, a price-to-earnings-growth ratio of 1.63 and a beta of 1.10.

Blackbaud (NASDAQ:BLKB) last issued its earnings results on Tuesday, February 10th. The technology company reported $1.19 EPS for the quarter, beating analysts’ consensus estimates of $1.15 by $0.04. The company had revenue of $295.26 million during the quarter, compared to the consensus estimate of $292.71 million. Blackbaud had a return on equity of 175.57% and a net margin of 10.19%.Blackbaud’s quarterly revenue was down 2.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.08 earnings per share. Blackbaud has set its FY 2026 guidance at 5.150-5.250 EPS. As a group, sell-side analysts expect that Blackbaud, Inc. will post 3.05 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on BLKB. Evercore set a $55.00 price target on shares of Blackbaud in a research note on Wednesday, February 11th. Wall Street Zen raised shares of Blackbaud from a “hold” rating to a “buy” rating in a report on Sunday, November 9th. Weiss Ratings restated a “sell (d)” rating on shares of Blackbaud in a research note on Wednesday, January 21st. Zacks Research upgraded Blackbaud from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 13th. Finally, Stifel Nicolaus set a $50.00 price objective on Blackbaud in a report on Tuesday, February 10th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Blackbaud currently has a consensus rating of “Hold” and an average target price of $56.25.

Insider Transactions at Blackbaud

In related news, Director Rupal S. Hollenbeck sold 1,600 shares of the company’s stock in a transaction on Friday, November 21st. The stock was sold at an average price of $56.49, for a total transaction of $90,384.00. Following the completion of the transaction, the director directly owned 6,366 shares in the company, valued at $359,615.34. This represents a 20.09% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.97% of the stock is owned by corporate insiders.

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.