SG Americas Securities LLC Grows Position in Blackbaud, Inc. $BLKB

SG Americas Securities LLC boosted its stake in shares of Blackbaud, Inc. (NASDAQ:BLKB) by 545.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 20,577 shares of the technology company’s stock after acquiring an additional 17,387 shares during the period. SG Americas Securities LLC’s holdings in Blackbaud were worth $1,323,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of BLKB. Geneva Capital Management LLC boosted its holdings in shares of Blackbaud by 6.6% during the 2nd quarter. Geneva Capital Management LLC now owns 1,221,745 shares of the technology company’s stock valued at $78,448,000 after purchasing an additional 75,675 shares during the last quarter. Greenhouse Funds LLLP lifted its position in shares of Blackbaud by 40.4% in the second quarter. Greenhouse Funds LLLP now owns 706,447 shares of the technology company’s stock worth $45,361,000 after buying an additional 203,350 shares in the last quarter. P2 Capital Partners LLC boosted its stake in Blackbaud by 10.0% during the second quarter. P2 Capital Partners LLC now owns 490,754 shares of the technology company’s stock valued at $31,511,000 after buying an additional 44,495 shares during the last quarter. Norges Bank purchased a new position in Blackbaud during the 2nd quarter valued at approximately $31,503,000. Finally, Bank of New York Mellon Corp increased its stake in Blackbaud by 10.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 484,023 shares of the technology company’s stock worth $31,079,000 after acquiring an additional 44,487 shares during the last quarter. Hedge funds and other institutional investors own 94.21% of the company’s stock.

Insider Activity at Blackbaud

In other Blackbaud 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 value of $90,384.00. Following the transaction, the director owned 6,366 shares of the company’s stock, valued at $359,615.34. This represents a 20.09% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Michael P. Gianoni sold 5,000 shares of Blackbaud stock in a transaction on Thursday, November 6th. The stock was sold at an average price of $57.68, for a total value of $288,400.00. Following the sale, the chief executive officer owned 372,985 shares of the company’s stock, valued at approximately $21,513,774.80. This trade represents a 1.32% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 11,600 shares of company stock worth $690,834. Company insiders own 1.97% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on BLKB. Weiss Ratings reiterated a “sell (d)” rating on shares of Blackbaud in a research report on Wednesday, October 8th. Zacks Research lowered shares of Blackbaud from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 29th. Wall Street Zen raised shares of Blackbaud from a “hold” rating to a “buy” rating in a research note on Sunday, November 9th. Finally, Stifel Nicolaus set a $70.00 price target on shares of Blackbaud in a report on Wednesday, October 29th. Three research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus price target of $73.00.

Blackbaud Trading Down 2.5%

Shares of BLKB opened at $55.48 on Friday. The company’s fifty day simple moving average is $60.62 and its 200-day simple moving average is $63.39. The company has a market cap of $2.65 billion, a P/E ratio of -10.67, a P/E/G ratio of 2.10 and a beta of 1.07. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 9.63. Blackbaud, Inc. has a twelve month low of $54.56 and a twelve month high of $81.39.

Blackbaud (NASDAQ:BLKB) last issued its quarterly earnings results on Wednesday, October 29th. The technology company reported $1.10 EPS for the quarter, beating the consensus estimate of $1.07 by $0.03. Blackbaud had a negative net margin of 22.57% and a positive return on equity of 137.13%. The company had revenue of $281.14 million for the quarter, compared to the consensus estimate of $279.21 million. During the same period in the prior year, the firm posted $0.99 EPS. The firm’s revenue was down 2.0% compared to the same quarter last year. Blackbaud has set its FY 2025 guidance at 4.300-4.500 EPS. As a group, analysts expect that Blackbaud, Inc. will post 3.05 EPS for the current 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.