Voya Investment Management LLC Trims Holdings in Blackbaud, Inc. $BLKB

Voya Investment Management LLC trimmed its position in shares of Blackbaud, Inc. (NASDAQ:BLKB) by 10.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,915 shares of the technology company’s stock after selling 1,260 shares during the period. Voya Investment Management LLC’s holdings in Blackbaud were worth $677,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Intech Investment Management LLC boosted its holdings in Blackbaud by 5.2% in the 1st quarter. Intech Investment Management LLC now owns 43,733 shares of the technology company’s stock worth $2,714,000 after buying an additional 2,144 shares during the period. Jane Street Group LLC grew its holdings in Blackbaud by 886.2% during the 1st quarter. Jane Street Group LLC now owns 159,729 shares of the technology company’s stock valued at $9,911,000 after buying an additional 143,533 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Blackbaud by 4.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 101,751 shares of the technology company’s stock valued at $6,314,000 after buying an additional 4,178 shares in the last quarter. Clearline Capital LP purchased a new stake in Blackbaud during the 1st quarter valued at approximately $19,052,000. Finally, Goldman Sachs Group Inc. grew its holdings in Blackbaud by 26.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 229,244 shares of the technology company’s stock valued at $14,225,000 after buying an additional 47,549 shares in the last quarter. Hedge funds and other institutional investors own 94.21% of the company’s stock.

Insider Transactions at Blackbaud

In other news, Director Rupal S. Hollenbeck sold 2,500 shares of the business’s 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 sale, the director owned 7,966 shares in the company, valued at approximately $509,664.68. The trade was a 23.89% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Kevin P. Gregoire sold 8,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 30th. The shares were sold at an average price of $72.67, for a total value of $581,360.00. Following the completion of the sale, the executive vice president owned 111,156 shares in the company, valued at approximately $8,077,706.52. This represents a 6.71% decrease in their position. The disclosure for this sale can be found here. 1.97% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Separately, Wall Street Zen raised shares of Blackbaud from a “hold” rating to a “buy” rating in a report on Saturday, August 2nd. One equities research 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 an average rating of “Hold” and a consensus target price of $78.67.

Blackbaud Stock Down 2.1%

NASDAQ BLKB opened at $63.52 on Friday. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 12.92. The company has a fifty day moving average of $65.80 and a two-hundred day moving average of $63.89. The firm has a market capitalization of $3.08 billion, a price-to-earnings ratio of -10.99, a PEG ratio of 4.53 and a beta of 1.15. Blackbaud, Inc. has a 52 week low of $58.05 and a 52 week high of $88.95.

Blackbaud (NASDAQ:BLKB) last posted its quarterly earnings data on Wednesday, July 30th. The technology company reported $1.21 EPS for the quarter, topping the consensus estimate of $1.05 by $0.16. Blackbaud had a negative net margin of 24.82% and a positive return on equity of 61.72%. The company had revenue of $281.38 million during the quarter, compared to analyst estimates of $276.48 million. During the same period in the previous year, the firm earned $1.08 earnings per share. Blackbaud’s quarterly revenue was down 2.1% compared to the same quarter last year. Blackbaud has set its FY 2025 guidance at 4.300-4.500 EPS. On average, analysts predict that Blackbaud, Inc. will post 3.05 earnings per share for the current year.

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.