Blackbaud (NASDAQ:BLKB) Updates FY24 Earnings Guidance

Blackbaud (NASDAQ:BLKBGet Free Report) issued an update on its FY24 earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of $4.12-4.38 for the period, compared to the consensus estimate of $4.58. The company issued revenue guidance of $1.17-1.20 billion, compared to the consensus revenue estimate of $1.19 billion.

Blackbaud Stock Up 0.7 %

Shares of NASDAQ BLKB traded up $0.60 during mid-day trading on Monday, reaching $82.65. 310,481 shares of the company’s stock were exchanged, compared to its average volume of 173,029. The firm has a market capitalization of $4.45 billion, a price-to-earnings ratio of -171.13, a PEG ratio of 1.34 and a beta of 1.09. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.90. The business has a fifty day simple moving average of $83.81 and a 200 day simple moving average of $76.37. Blackbaud has a twelve month low of $53.39 and a twelve month high of $88.56.

Insiders Place Their Bets

In other news, Director Sarah E. Nash sold 4,113 shares of the company’s stock in a transaction on Monday, November 27th. The stock was sold at an average price of $75.72, for a total transaction of $311,436.36. Following the completion of the sale, the director now directly owns 26,977 shares in the company, valued at approximately $2,042,698.44. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 1.89% of the company’s stock.

Institutional Investors Weigh In On Blackbaud

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Morgan Stanley raised its stake in shares of Blackbaud by 865.3% in the fourth quarter. Morgan Stanley now owns 3,970,062 shares of the technology company’s stock worth $233,678,000 after purchasing an additional 3,558,788 shares during the last quarter. First Trust Advisors LP increased its position in shares of Blackbaud by 2,238.8% during the first quarter. First Trust Advisors LP now owns 534,740 shares of the technology company’s stock valued at $32,015,000 after acquiring an additional 511,876 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Blackbaud by 7.4% during the first quarter. Vanguard Group Inc. now owns 4,916,663 shares of the technology company’s stock valued at $294,361,000 after acquiring an additional 339,922 shares during the last quarter. Norges Bank purchased a new stake in Blackbaud in the fourth quarter worth $15,731,000. Finally, BlackRock Inc. raised its stake in shares of Blackbaud by 3.6% in the first quarter. BlackRock Inc. now owns 5,320,025 shares of the technology company’s stock valued at $318,510,000 after buying an additional 186,768 shares during the period. Institutional investors and hedge funds own 93.06% of the company’s stock.

Blackbaud Company Profile

(Get Free Report)

Blackbaud, Inc provides cloud software solutions to higher education institutions, K12 schools, healthcare organizations, faith communities, arts and cultural organizations, foundations, companies, and individual change agents in the United States and internationally. The company offers fundraising and engagement solutions, such as Blackbaud Raiser's Edge NXT, Blackbaud CRM, Blackbaud eTapestry, Blackbaud Luminate Online, Blackbaud TeamRaiser, JustGiving, Blackbaud Fundraiser Performance Management, Blackbaud Guided Fundraising, and Blackbaud Altru; and financial management solutions comprising Blackbaud Financial Edge NXT, Blackbaud Tuition Management, and Blackbaud Financial Aid Management.

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Earnings History and Estimates for Blackbaud (NASDAQ:BLKB)

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