Blackbaud, Inc. $BLKB Shares Purchased by Intech Investment Management LLC

Intech Investment Management LLC lifted its stake in Blackbaud, Inc. (NASDAQ:BLKB) by 5.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 43,733 shares of the technology company’s stock after purchasing an additional 2,144 shares during the quarter. Intech Investment Management LLC owned about 0.09% of Blackbaud worth $2,714,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Avantax Advisory Services Inc. increased its stake in Blackbaud by 1.8% during the first quarter. Avantax Advisory Services Inc. now owns 11,816 shares of the technology company’s stock worth $733,000 after acquiring an additional 210 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Blackbaud by 11.2% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,300 shares of the technology company’s stock worth $143,000 after acquiring an additional 231 shares during the last quarter. UMB Bank n.a. increased its stake in Blackbaud by 63.2% during the first quarter. UMB Bank n.a. now owns 692 shares of the technology company’s stock worth $43,000 after acquiring an additional 268 shares during the last quarter. Procyon Advisors LLC increased its stake in Blackbaud by 8.0% during the first quarter. Procyon Advisors LLC now owns 3,722 shares of the technology company’s stock worth $231,000 after acquiring an additional 275 shares during the last quarter. Finally, Versant Capital Management Inc increased its stake in Blackbaud by 127.4% during the first quarter. Versant Capital Management Inc now owns 523 shares of the technology company’s stock worth $32,000 after acquiring an additional 293 shares during the last quarter. Institutional investors and hedge funds own 94.21% of the company’s stock.

Insiders Place Their Bets

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

Blackbaud Trading Down 0.8%

BLKB opened at $69.60 on Monday. Blackbaud, Inc. has a 52 week low of $58.05 and a 52 week high of $88.95. The business has a fifty day simple moving average of $65.35 and a 200-day simple moving average of $63.77. The firm has a market cap of $3.38 billion, a P/E ratio of -12.04, a P/E/G ratio of 4.86 and a beta of 1.15. 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 (NASDAQ:BLKB) last released its earnings results on Wednesday, July 30th. The technology company reported $1.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.05 by $0.16. The firm had revenue of $281.38 million during the quarter, compared to analyst estimates of $276.48 million. Blackbaud had a positive return on equity of 61.72% and a negative net margin of 24.82%.Blackbaud’s revenue was down 2.1% compared to the same quarter last year. During the same period last year, the business posted $1.08 earnings per share. Blackbaud has set its FY 2025 guidance at 4.300-4.500 EPS. On average, equities analysts expect that Blackbaud, Inc. will post 3.05 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised Blackbaud from a “hold” rating to a “buy” rating in a research note on Saturday, August 2nd. One investment analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, Blackbaud presently has a consensus rating of “Hold” and a consensus target price of $78.67.

Blackbaud 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.