Key Points
- Blackbaud EVP Kevin Gregoire sold 22,000 shares at an average price of $45.50, generating approximately $1.0 million. His remaining direct ownership fell 16.27% to 113,194 shares.
- Blackbaud exceeded quarterly earnings expectations, reporting $1.33 EPS versus the $1.23 consensus, while revenue reached $290.6 million, up 3.3% year over year but slightly below estimates.
- Institutional investors own 94.21% of the company, with BlackRock making a new investment valued at approximately $177.2 million. Analysts maintain a consensus “Hold” rating and $48.50 price target.
Blackbaud, Inc. (NASDAQ:BLKB - Get Free Report) EVP Kevin Gregoire sold 22,000 shares of the firm's stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $45.50, for a total value of $1,001,000.00. Following the sale, the executive vice president directly owned 113,194 shares in the company, valued at approximately $5,150,327. This represents a 16.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
Blackbaud Price Performance
Shares of Blackbaud stock opened at $45.87 on Friday. The company has a market capitalization of $2.08 billion, a price-to-earnings ratio of 14.33, a PEG ratio of 1.59 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. The stock's 50-day simple moving average is $31.94 and its 200-day simple moving average is $38.64. Blackbaud, Inc. has a 52 week low of $25.58 and a 52 week high of $70.71.
Blackbaud (NASDAQ:BLKB - Get Free Report) last released its earnings results on Wednesday, July 29th. The technology company reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.23 by $0.10. The firm had revenue of $290.60 million during the quarter, compared to analysts' expectations of $292.23 million. Blackbaud had a return on equity of 197.49% and a net margin of 13.12%.The firm's revenue was up 3.3% on a year-over-year basis. During the same quarter last year, the business posted $1.21 earnings per share. Blackbaud has set its FY 2026 guidance at 5.150-5.250 EPS. As a group, analysts expect that Blackbaud, Inc. will post 3.71 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Blackbaud
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BLKB. BlackRock Inc. purchased a new position in Blackbaud during the 2nd quarter valued at approximately $177,153,000. Deutsche Bank AG purchased a new stake in shares of Blackbaud during the 2nd quarter worth approximately $1,237,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of Blackbaud during the 2nd quarter worth approximately $177,000. Persistent Asset Partners Ltd bought a new position in shares of Blackbaud during the 2nd quarter valued at approximately $41,000. Finally, Bank of New York Mellon Corp bought a new position in shares of Blackbaud during the 2nd quarter valued at approximately $7,067,000. 94.21% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of equities research analysts have issued reports on BLKB shares. Robert W. Baird set a $54.00 price objective on shares of Blackbaud in a report on Thursday, July 30th. Zacks Research downgraded shares of Blackbaud from a "strong-buy" rating to a "hold" rating in a report on Monday, April 13th. Weiss Ratings upgraded shares of Blackbaud from a "sell (d)" rating to a "sell (d+)" rating in a research report on Thursday. Raymond James Financial restated an "outperform" rating and set a $55.00 target price on shares of Blackbaud in a research report on Wednesday, July 29th. Finally, Stifel Nicolaus reduced 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. Two research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $48.50.
Check Out Our Latest Research Report on Blackbaud
Blackbaud Company Profile
(
Get Free Report)
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.
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