Blackbaud (NASDAQ:BLKB) Trading Down 5.5% – Here’s What Happened

Blackbaud, Inc. (NASDAQ:BLKB) shares dropped 5.5% during trading on Friday . The stock traded as low as $34.07 and last traded at $34.16. Approximately 104,066 shares were traded during mid-day trading, a decline of 80% from the average daily volume of 512,835 shares. The stock had previously closed at $36.16.

Wall Street Analysts Forecast Growth

BLKB has been the topic of several analyst reports. Robert W. Baird set a $60.00 target price on Blackbaud in a research report on Wednesday, February 11th. Zacks Research upgraded Blackbaud from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 13th. Weiss Ratings reiterated a “sell (d)” rating on shares of Blackbaud in a research report on Wednesday, January 21st. Stifel Nicolaus set a $50.00 price objective on Blackbaud in a research note on Tuesday, February 10th. Finally, Evercore set a $55.00 price objective on Blackbaud in a research note on Wednesday, February 11th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Blackbaud presently has an average rating of “Hold” and an average price target of $56.25.

Blackbaud Stock Down 5.2%

The company has a debt-to-equity ratio of 12.78, a quick ratio of 0.79 and a current ratio of 0.79. The stock has a 50 day moving average price of $44.75 and a 200 day moving average price of $55.32. The company has a market cap of $1.57 billion, a P/E ratio of 14.40, a P/E/G ratio of 1.18 and a beta of 1.18.

Blackbaud (NASDAQ:BLKB) last posted its quarterly earnings data on Tuesday, February 10th. The technology company reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $1.15 by $0.04. Blackbaud had a return on equity of 175.57% and a net margin of 10.19%.The company had revenue of $295.26 million for the quarter, compared to the consensus estimate of $292.71 million. During the same quarter in the previous year, the business earned $1.08 EPS. The company’s quarterly revenue was down 2.3% compared to the same quarter last year. Blackbaud has set its FY 2026 guidance at 5.150-5.250 EPS. Research analysts expect that Blackbaud, Inc. will post 3.05 earnings per share for the current fiscal year.

Insider Transactions at Blackbaud

In other news, EVP Kevin P. Gregoire sold 2,000 shares of the business’s stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $50.02, for a total value of $100,040.00. Following the sale, the executive vice president owned 135,194 shares of the company’s stock, valued at approximately $6,762,403.88. The trade was a 1.46% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP David J. Benjamin sold 14,349 shares of the business’s stock in a transaction on Tuesday, February 24th. The stock was sold at an average price of $47.47, for a total value of $681,147.03. Following the completion of the sale, the executive vice president directly owned 73,124 shares in the company, valued at $3,471,196.28. This represents a 16.40% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 39,801 shares of company stock valued at $1,893,874. Corporate insiders own 1.97% of the company’s stock.

Institutional Investors Weigh In On Blackbaud

Several hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in shares of Blackbaud by 14.7% during the third quarter. Vanguard Group Inc. now owns 5,516,432 shares of the technology company’s stock valued at $354,762,000 after purchasing an additional 706,695 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Blackbaud by 143,409.7% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,207,179 shares of the technology company’s stock valued at $139,759,000 after purchasing an additional 2,205,641 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Blackbaud by 0.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 975,085 shares of the technology company’s stock valued at $61,743,000 after purchasing an additional 5,709 shares during the last quarter. Greenhouse Funds LLLP lifted its holdings in shares of Blackbaud by 13.7% during the third quarter. Greenhouse Funds LLLP now owns 802,904 shares of the technology company’s stock valued at $51,635,000 after purchasing an additional 96,457 shares during the last quarter. Finally, Van Berkom & Associates Inc. lifted its holdings in shares of Blackbaud by 16.7% during the fourth quarter. Van Berkom & Associates Inc. now owns 779,935 shares of the technology company’s stock valued at $49,385,000 after purchasing an additional 111,388 shares during the last quarter. 94.21% of the stock is owned by hedge funds and other institutional investors.

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.