Allspring Global Investments Holdings LLC Sells 13,927 Shares of Blackbaud, Inc. $BLKB

Allspring Global Investments Holdings LLC lowered its position in shares of Blackbaud, Inc. (NASDAQ:BLKB) by 8.1% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 158,338 shares of the technology company’s stock after selling 13,927 shares during the period. Allspring Global Investments Holdings LLC owned about 0.33% of Blackbaud worth $10,026,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of BLKB. Jackson Creek Investment Advisors LLC bought a new position in Blackbaud during the 3rd quarter valued at approximately $1,287,000. Vanguard Group Inc. lifted its holdings in Blackbaud by 14.7% in the 3rd quarter. Vanguard Group Inc. now owns 5,516,432 shares of the technology company’s stock worth $354,762,000 after buying an additional 706,695 shares during the period. Greenhouse Funds LLLP grew its position in shares of Blackbaud by 13.7% in the 3rd quarter. Greenhouse Funds LLLP now owns 802,904 shares of the technology company’s stock worth $51,635,000 after buying an additional 96,457 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Blackbaud in the 3rd quarter worth approximately $2,356,000. Finally, Tudor Investment Corp ET AL purchased a new position in shares of Blackbaud during the third quarter valued at approximately $10,586,000. Hedge funds and other institutional investors own 94.21% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Robert W. Baird set a $60.00 target price on Blackbaud in a report on Wednesday, February 11th. Stifel Nicolaus set a $50.00 price objective on shares of Blackbaud in a research report on Tuesday, February 10th. Weiss Ratings restated a “sell (d)” rating on shares of Blackbaud in a report on Wednesday, January 21st. Zacks Research raised shares of Blackbaud from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 13th. Finally, Raymond James Financial set a $60.00 target price on shares of Blackbaud in a research note on Tuesday, February 10th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $56.25.

Insider Activity

In related news, EVP David J. Benjamin sold 14,349 shares of the company’s stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $47.47, for a total value of $681,147.03. Following the transaction, the executive vice president owned 73,124 shares in the company, valued at $3,471,196.28. The trade was a 16.40% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Kevin Mcdearis sold 15,462 shares of the stock in a transaction dated Monday, February 23rd. The shares were sold at an average price of $46.43, for a total transaction of $717,900.66. Following the sale, the executive vice president directly owned 91,756 shares in the company, valued at $4,260,231.08. This trade represents a 14.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 39,801 shares of company stock worth $1,893,874 over the last three months. 1.97% of the stock is currently owned by corporate insiders.

Blackbaud Price Performance

Shares of Blackbaud stock opened at $38.03 on Monday. Blackbaud, Inc. has a 1 year low of $36.10 and a 1 year high of $74.88. The firm has a market cap of $1.75 billion, a price-to-earnings ratio of 15.98, a PEG ratio of 1.31 and a beta of 1.18. The company has a 50-day moving average of $46.51 and a 200 day moving average of $56.29. The company has a debt-to-equity ratio of 12.78, a current ratio of 0.79 and a quick ratio of 0.79.

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

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.