44,785 Shares in Blackbaud, Inc. $BLKB Acquired by Empowered Funds LLC

Empowered Funds LLC purchased a new stake in Blackbaud, Inc. (NASDAQ:BLKB) during the first quarter, HoldingsChannel reports. The firm purchased 44,785 shares of the technology company’s stock, valued at approximately $1,729,000.

Several other hedge funds have also added to or reduced their stakes in BLKB. Quantinno Capital Management LP boosted its position in Blackbaud by 158.3% during the first quarter. Quantinno Capital Management LP now owns 39,399 shares of the technology company’s stock worth $1,521,000 after purchasing an additional 24,145 shares during the period. Renaissance Technologies LLC acquired a new position in shares of Blackbaud in the first quarter valued at $1,351,000. Aristides Capital LLC raised its position in shares of Blackbaud by 63.5% in the first quarter. Aristides Capital LLC now owns 48,186 shares of the technology company’s stock valued at $1,860,000 after purchasing an additional 18,710 shares during the period. Arrowstreet Capital Limited Partnership raised its position in shares of Blackbaud by 50.2% in the first quarter. Arrowstreet Capital Limited Partnership now owns 312,992 shares of the technology company’s stock valued at $12,085,000 after purchasing an additional 104,663 shares during the period. Finally, Sei Investments Co. lifted its stake in shares of Blackbaud by 1.9% during the 1st quarter. Sei Investments Co. now owns 26,928 shares of the technology company’s stock worth $1,040,000 after buying an additional 491 shares during the last quarter. Institutional investors and hedge funds own 94.21% of the company’s stock.

Blackbaud Trading Down 1.1%

Shares of Blackbaud stock opened at $45.87 on Friday. The company has a debt-to-equity ratio of 16.82, a quick ratio of 0.83 and a current ratio of 0.83. The firm has a 50-day moving average of $31.94 and a 200-day moving average of $38.64. Blackbaud, Inc. has a 52-week low of $25.58 and a 52-week high of $70.71. The stock has a market cap of $2.08 billion, a PE ratio of 14.33, a PEG ratio of 1.59 and a beta of 0.97.

Blackbaud (NASDAQ:BLKB) last released its quarterly earnings results on Wednesday, July 29th. The technology company reported $1.33 EPS for the quarter, topping analysts’ consensus estimates of $1.23 by $0.10. Blackbaud had a net margin of 13.12% and a return on equity of 197.49%. The business had revenue of $290.60 million for the quarter, compared to analyst estimates of $292.23 million. During the same period last year, the firm earned $1.21 earnings per share. Blackbaud’s revenue for the quarter was up 3.3% compared to the same quarter last year. Blackbaud has set its FY 2026 guidance at 5.150-5.250 EPS. As a group, sell-side analysts forecast that Blackbaud, Inc. will post 3.71 EPS for the current year.

Insider Activity at Blackbaud

In related news, CFO Chad Anderson sold 6,205 shares of the stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $31.31, for a total transaction of $194,278.55. Following the sale, the chief financial officer owned 62,869 shares of the company’s stock, valued at $1,968,428.39. This represents a 8.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Kevin P. Gregoire sold 22,000 shares of the firm’s stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $45.50, for a total value of $1,001,000.00. Following the transaction, the executive vice president owned 113,194 shares in the company, valued at approximately $5,150,327. This trade represents a 16.27% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 2.01% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Weiss Ratings downgraded shares of Blackbaud from a “sell (d+)” rating to a “sell (d)” rating in a report on Thursday, July 23rd. Robert W. Baird set a $54.00 price objective on shares of Blackbaud in a research report on Thursday, July 30th. Stifel Nicolaus reduced their price objective on Blackbaud from $45.00 to $30.00 and set a “hold” rating for the company in a report on Friday, July 10th. Raymond James Financial reaffirmed an “outperform” rating and issued a $55.00 target price on shares of Blackbaud in a research report on Wednesday, July 29th. Finally, Zacks Research lowered Blackbaud from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 13th. Two equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Blackbaud currently has an average rating of “Hold” and a consensus target price of $48.50.

Blackbaud Company Profile

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.