Blackbaud, Inc. $BLKB Shares Acquired by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. increased its holdings in shares of Blackbaud, Inc. (NASDAQ:BLKB) by 8.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 446,173 shares of the technology company’s stock after acquiring an additional 33,500 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.92% of Blackbaud worth $27,685,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of BLKB. Wells Fargo & Company MN grew its holdings in Blackbaud by 6.3% during the fourth quarter. Wells Fargo & Company MN now owns 50,786 shares of the technology company’s stock worth $3,754,000 after acquiring an additional 3,017 shares during the period. Russell Investments Group Ltd. grew its holdings in Blackbaud by 1,349.0% during the fourth quarter. Russell Investments Group Ltd. now owns 10,375 shares of the technology company’s stock worth $767,000 after acquiring an additional 9,659 shares during the period. Invesco Ltd. grew its holdings in Blackbaud by 1.1% during the fourth quarter. Invesco Ltd. now owns 71,288 shares of the technology company’s stock worth $5,270,000 after acquiring an additional 745 shares during the period. Raymond James Financial Inc. acquired a new position in Blackbaud during the fourth quarter worth $6,546,000. Finally, Barclays PLC grew its holdings in Blackbaud by 16.1% during the fourth quarter. Barclays PLC now owns 93,554 shares of the technology company’s stock worth $6,916,000 after acquiring an additional 12,997 shares during the period. Institutional investors and hedge funds own 94.21% of the company’s stock.

Insider Buying and Selling at Blackbaud

In related news, Director Rupal S. Hollenbeck sold 2,500 shares of the stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $63.98, for a total transaction of $159,950.00. Following the transaction, the director directly owned 7,966 shares in the company, valued at approximately $509,664.68. This represents a 23.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Kevin P. Gregoire sold 8,000 shares of the stock in a transaction dated Wednesday, July 30th. The stock was sold at an average price of $72.67, for a total value of $581,360.00. Following the transaction, the executive vice president owned 111,156 shares in the company, valued at $8,077,706.52. This trade represents a 6.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.97% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages recently weighed in on BLKB. Stifel Nicolaus dropped their price objective on Blackbaud from $75.00 to $65.00 and set a “hold” rating on the stock in a report on Thursday, May 1st. Wall Street Zen raised Blackbaud from a “hold” rating to a “buy” rating in a report on Saturday, August 2nd. One analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, Blackbaud currently has a consensus rating of “Hold” and an average target price of $78.67.

Blackbaud Stock Up 0.2%

Shares of NASDAQ:BLKB opened at $64.47 on Wednesday. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 12.92. Blackbaud, Inc. has a 52-week low of $58.05 and a 52-week high of $88.95. The stock’s fifty day simple moving average is $64.02 and its 200-day simple moving average is $64.77. The company has a market capitalization of $3.13 billion, a P/E ratio of -11.15, a P/E/G ratio of 4.49 and a beta of 1.13.

Blackbaud (NASDAQ:BLKB) last issued its quarterly earnings data on Wednesday, July 30th. The technology company reported $1.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.16. Blackbaud had a positive return on equity of 61.72% and a negative net margin of 24.82%.The business had revenue of $281.38 million for the quarter, compared to the consensus estimate of $276.48 million. During the same period in the prior year, the business earned $1.08 earnings per share. The business’s revenue was down 2.1% on a year-over-year basis. Blackbaud has set its FY 2025 guidance at 4.300-4.500 EPS. As a group, equities research analysts forecast that Blackbaud, Inc. will post 3.05 earnings per share for the current fiscal year.

Blackbaud Company Profile

Blackbaud, Inc provides cloud software solutions to nonprofits, foundations, education institutions, and healthcare organizations 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 and Billing Management.