22,272 Blackbaud, Inc. $BLKB Shares Acquired by Andrew Hill Investment Advisors Inc.

Key Points

• Andrew Hill Investment Advisors increased its Blackbaud stake by 72.7% in the third quarter, acquiring 22,272 shares and bringing its holdings to 52,902 shares valued at approximately $2.2 million. Institutional investors collectively own 94.21% of the company.
• Analysts maintain a generally cautious outlook, with Blackbaud carrying a consensus “Hold” rating and an average price target of $49.50, despite two “Buy” ratings and one analyst raising its target to $58.
• Blackbaud exceeded quarterly earnings expectations, reporting $1.33 in EPS versus the $1.23 consensus estimate, while revenue rose 3.3% year over year to $290.6 million. However, company insiders sold 43,086 shares worth about $2.0 million over the past three months.

Andrew Hill Investment Advisors Inc. increased its stake in Blackbaud, Inc. (NASDAQ:BLKB - Free Report) by 72.7% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 52,902 shares of the technology company's stock after purchasing an additional 22,272 shares during the quarter. Blackbaud makes up 1.8% of Andrew Hill Investment Advisors Inc.'s investment portfolio, making the stock its 21st largest holding. Andrew Hill Investment Advisors Inc. owned approximately 0.12% of Blackbaud worth $2,202,000 as of its most recent filing with the SEC.

A number of other large investors have also recently added to or reduced their stakes in the stock. Altshuler Shaham Ltd acquired a new stake in shares of Blackbaud in the first quarter valued at about $29,000. Parallel Advisors LLC grew its holdings in Blackbaud by 528.0% in the 1st quarter. Parallel Advisors LLC now owns 785 shares of the technology company's stock valued at $30,000 after buying an additional 660 shares during the last quarter. Blue Trust Inc. grew its holdings in Blackbaud by 44.3% in the 1st quarter. Blue Trust Inc. now owns 867 shares of the technology company's stock valued at $33,000 after buying an additional 266 shares during the last quarter. Performa Ltd US LLC increased its position in Blackbaud by 337.5% in the 2nd quarter. Performa Ltd US LLC now owns 875 shares of the technology company's stock worth $26,000 after buying an additional 675 shares during the period. Finally, Parkside Financial Bank & Trust raised its stake in Blackbaud by 107.1% during the 2nd quarter. Parkside Financial Bank & Trust now owns 959 shares of the technology company's stock valued at $28,000 after purchasing an additional 496 shares during the last quarter. Institutional investors own 94.21% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Raymond James Financial restated an "outperform" rating and issued a $55.00 target price on shares of Blackbaud in a research note on Wednesday, July 29th. Robert W. Baird raised their price objective on shares of Blackbaud from $54.00 to $58.00 and gave the stock an "outperform" rating in a report on Tuesday, September 15th. Weiss Ratings upgraded shares of Blackbaud from a "hold (c-)" rating to a "hold (c)" rating in a research note on Monday. Finally, Stifel Nicolaus cut their target price on shares of Blackbaud from $45.00 to $30.00 and set a "hold" rating for the company in a research note on Friday, July 10th. Two analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, Blackbaud has a consensus rating of "Hold" and a consensus price target of $49.50.

Insider Activity at Blackbaud

In other Blackbaud news, CFO Chad Anderson sold 2,000 shares of the firm's stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $47.56, for a total value of $95,120.00. Following the completion of the transaction, the chief financial officer directly owned 59,883 shares of the company's stock, valued at $2,848,035.48. This trade represents a 3.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Michael P. Gianoni sold 17,000 shares of the business's stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $47.35, for a total value of $804,950.00. Following the transaction, the chief executive officer owned 423,264 shares of the company's stock, valued at approximately $20,041,550.40. The trade was a 3.86% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 43,086 shares of company stock valued at $2,001,761 in the last three months. Insiders own 2.01% of the company's stock.

Blackbaud Stock Performance

Shares of Blackbaud stock opened at $55.54 on Friday. The firm has a market cap of $2.52 billion, a price-to-earnings ratio of 17.36, a price-to-earnings-growth ratio of 1.93 and a beta of 1.04. The stock's 50-day moving average is $46.39 and its 200-day moving average is $38.25. The company has a debt-to-equity ratio of 16.82, a current ratio of 0.83 and a quick ratio of 0.83. Blackbaud, Inc. has a one year low of $25.58 and a one year high of $70.71.

Blackbaud (NASDAQ:BLKB - Get Free Report) last posted its earnings results on Wednesday, July 29th. The technology company reported $1.33 earnings per share for the quarter, topping analysts' consensus estimates of $1.23 by $0.10. The company had revenue of $290.60 million during the quarter, compared to the consensus estimate of $292.23 million. Blackbaud had a return on equity of 197.49% and a net margin of 13.12%. The company's revenue was up 3.3% on a year-over-year basis. During the same quarter last year, the firm earned $1.21 earnings per share. Blackbaud has set its FY 2026 guidance at 5.150-5.250 EPS. Equities analysts predict that Blackbaud, Inc. will post 3.71 earnings per share for the current fiscal year.

About Blackbaud

Blackbaud, Inc NASDAQ: BLKB develops cloud-based software and services for nonprofit organizations, educational institutions, healthcare and other social-impact organizations. Its technology helps customers manage fundraising, donor relationships, financial operations, grantmaking, marketing, ticketing, payments and community engagement.

The company's product portfolio includes solutions such as Raiser's Edge NXT for nonprofit fundraising and constituent relationship management, Financial Edge NXT for nonprofit accounting, Luminate for online fundraising and advocacy, Grantmaking, Blackbaud Tuition Management, and Altru for cultural organizations.

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