Blackbaud (NASDAQ:BLKB) Trading Up 4.7% – Here’s Why

Blackbaud, Inc. (NASDAQ:BLKB) was up 4.7% during mid-day trading on Friday . The company traded as high as $32.73 and last traded at $32.7150. 51,597 shares changed hands during trading, a decline of 92% from the average daily volume of 640,326 shares. The stock had previously closed at $31.25.

Wall Street Analyst Weigh In

Several brokerages have commented on BLKB. Robert W. Baird raised shares of Blackbaud from a “neutral” rating to an “outperform” rating and lowered their price objective for the stock from $60.00 to $50.00 in a research report on Thursday, April 30th. Zacks Research lowered shares of Blackbaud from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 13th. Stifel Nicolaus lowered their price target 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. Finally, Weiss Ratings upgraded Blackbaud from a “sell (d)” rating to a “sell (d+)” rating in a research note on Wednesday, July 8th. One investment analyst has rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $48.75.

Blackbaud Trading Up 4.5%

The firm has a fifty day moving average of $29.52 and a two-hundred day moving average of $39.94. The company has a market cap of $1.50 billion, a PE ratio of 11.06, a price-to-earnings-growth ratio of 1.10 and a beta of 1.01. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 33.66.

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

Insider Activity

In related news, CFO Chad Anderson sold 6,205 shares of the company’s 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 sale, the chief financial officer directly owned 62,869 shares in the company, valued at approximately $1,968,428.39. This represents a 8.98% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.01% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Wedge Capital Management L L P NC lifted its position in shares of Blackbaud by 117.1% during the second 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 in the last quarter. GAMMA Investing LLC grew its position in shares of 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 in the last quarter. MassMutual Private Wealth & Trust FSB grew its position in shares of Blackbaud by 1,147.7% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,360 shares of the technology company’s stock valued at $40,000 after purchasing an additional 1,251 shares in the last quarter. Versant Capital Management Inc raised its stake in shares of Blackbaud by 243.9% during the 2nd quarter. Versant Capital Management Inc now owns 1,286 shares of the technology company’s stock valued at $38,000 after purchasing an additional 912 shares during the period. Finally, Pacer Advisors Inc. raised its stake in shares of Blackbaud by 2,958.2% during the 1st quarter. Pacer Advisors Inc. now owns 187,557 shares of the technology company’s stock valued at $7,242,000 after purchasing an additional 181,424 shares during the period. 94.21% of the stock is currently owned by hedge funds and other institutional investors.

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.