Blackbaud (NASDAQ:BLKB) Trading Down 5.8% – Here’s What Happened

Shares of Blackbaud, Inc. (NASDAQ:BLKB) dropped 5.8% during mid-day trading on Tuesday . The stock traded as low as $40.88 and last traded at $40.9950. Approximately 90,515 shares traded hands during mid-day trading, a decline of 81% from the average daily volume of 489,180 shares. The stock had previously closed at $43.52.

Analysts Set New Price Targets

Several analysts recently commented on the company. Raymond James Financial set a $60.00 target price on Blackbaud in a report on Tuesday, February 10th. Weiss Ratings reissued a “sell (d)” rating on shares of Blackbaud in a report on Wednesday, January 21st. Evercore set a $55.00 price objective on Blackbaud in a research report on Wednesday, February 11th. Zacks Research raised shares of Blackbaud from a “hold” rating to a “strong-buy” rating in a report on Friday, February 13th. Finally, Stifel Nicolaus set a $50.00 target price on shares of Blackbaud in a research note 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 company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $56.25.

Blackbaud Trading Down 6.4%

The stock has a market cap of $1.87 billion, a PE ratio of 17.06, a price-to-earnings-growth ratio of 1.52 and a beta of 1.11. The company has a debt-to-equity ratio of 12.78, a quick ratio of 0.79 and a current ratio of 0.79. The company has a 50 day moving average of $49.76 and a two-hundred day moving average of $58.20.

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

Insider Transactions at Blackbaud

In other news, EVP Kevin Mcdearis sold 15,462 shares of the stock in a transaction that occurred on Monday, February 23rd. The shares were sold at an average price of $46.43, for a total value of $717,900.66. Following the completion of the sale, the executive vice president owned 91,756 shares of the company’s stock, valued at $4,260,231.08. This represents a 14.42% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Kevin P. Gregoire sold 2,000 shares of the stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $50.02, for a total value of $100,040.00. Following the completion of the transaction, the executive vice president owned 135,194 shares of the company’s stock, valued at $6,762,403.88. The trade was a 1.46% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 39,801 shares of company stock worth $1,893,874 in the last ninety days. Insiders own 1.97% of the company’s stock.

Institutional Trading of Blackbaud

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BLKB. Rothschild Investment LLC lifted its stake in Blackbaud by 589.0% during the 4th quarter. Rothschild Investment LLC now owns 565 shares of the technology company’s stock worth $36,000 after acquiring an additional 483 shares in the last quarter. TD Private Client Wealth LLC boosted its holdings in Blackbaud by 4,300.0% during the 4th quarter. TD Private Client Wealth LLC now owns 616 shares of the technology company’s stock valued at $39,000 after acquiring an additional 602 shares during the period. EverSource Wealth Advisors LLC grew its position in Blackbaud by 380.5% in the 4th quarter. EverSource Wealth Advisors LLC now owns 615 shares of the technology company’s stock valued at $39,000 after acquiring an additional 487 shares in the last quarter. Quarry LP purchased a new stake in Blackbaud during the third quarter worth about $46,000. Finally, Kestra Advisory Services LLC purchased a new stake in Blackbaud during the fourth quarter worth about $47,000. Hedge funds and other institutional investors own 94.21% of the company’s stock.

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.