Bank of America Corp DE Makes New $12.69 Million Investment in Blackbaud, Inc. $BLKB

Key Points

• Bank of America initiated a $12.69 million position in Blackbaud during the second quarter, acquiring 428,572 shares, or approximately 0.94% of the company. Institutional investors collectively own 94.21% of Blackbaud.
• Blackbaud exceeded quarterly earnings expectations, reporting $1.33 EPS versus the $1.23 consensus, while revenue rose 3.3% year over year to $290.6 million. The company issued fiscal 2026 EPS guidance of $5.15–$5.25.
• Analyst sentiment remains mixed, with an overall “Hold” rating and a $49.50 consensus price target; recent targets range from $30 to $58. Meanwhile, insiders sold 43,086 shares worth approximately $2.0 million over the past 90 days.

Bank of America Corp DE bought a new position in Blackbaud, Inc. (NASDAQ:BLKB - Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 428,572 shares of the technology company's stock, valued at approximately $12,694,000. Bank of America Corp DE owned approximately 0.94% of Blackbaud as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in BLKB. Palisade Capital Management LP purchased a new stake in Blackbaud during the second quarter valued at about $6,171,000. Wedge Capital Management L L P NC grew its stake in shares of Blackbaud by 117.1% during the second quarter. Wedge Capital Management L L P NC now owns 101,975 shares of the technology company's stock valued at $3,020,000 after buying an additional 54,997 shares during the last quarter. Renaissance Technologies LLC purchased a new position in shares of Blackbaud in the first quarter worth about $1,351,000. WINTON GROUP Ltd bought a new stake in shares of Blackbaud in the 4th quarter valued at about $4,533,000. Finally, Hillsdale Investment Management Inc. bought a new stake in shares of Blackbaud in the 4th quarter valued at about $7,719,000. Institutional investors own 94.21% of the company's stock.

Blackbaud Price Performance

NASDAQ BLKB opened at $43.19 on Friday. Blackbaud, Inc. has a one year low of $25.58 and a one year high of $70.71. The stock has a 50-day moving average of $43.58 and a 200 day moving average of $37.46. The company has a market capitalization of $1.96 billion, a price-to-earnings ratio of 13.50, a PEG ratio of 1.48 and a beta of 0.99. The company has a debt-to-equity ratio of 16.82, a quick ratio of 0.83 and a current ratio of 0.83.

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

Analyst Ratings Changes

BLKB has been the topic of several recent research reports. Robert W. Baird raised their price target on Blackbaud from $54.00 to $58.00 and gave the stock an "outperform" rating in a research report on Tuesday, September 15th. Raymond James Financial reiterated an "outperform" rating and issued a $55.00 price objective on shares of Blackbaud in a research report on Wednesday, July 29th. Weiss Ratings upgraded shares of Blackbaud from a "sell (d+)" rating to a "hold (c-)" rating in a report on Thursday. Finally, Stifel Nicolaus decreased their target price on shares of Blackbaud from $45.00 to $30.00 and set a "hold" rating on the stock in a research note on Friday, July 10th. Two equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat, Blackbaud currently has an average rating of "Hold" and a consensus target price of $49.50.

Insider Activity at Blackbaud

In other news, EVP David J. Benjamin sold 2,086 shares of the firm's stock in a transaction on Monday, August 31st. The stock was sold at an average price of $48.27, for a total value of $100,691.22. Following the transaction, the executive vice president directly owned 71,038 shares in the company, valued at $3,429,004.26. This trade represents a 2.85% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Kevin P. Gregoire sold 22,000 shares of the company's stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $45.50, for a total value of $1,001,000.00. Following the sale, the executive vice president owned 113,194 shares of the company's stock, valued at approximately $5,150,327. This trade represents a 16.27% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 43,086 shares of company stock worth $2,001,761. Company insiders own 2.01% of the company's stock.

Blackbaud Profile

Blackbaud, Inc provides cloud software and related services to organizations serving social good. Its customers include nonprofit organizations, educational institutions, healthcare organizations, foundations, faith-based organizations, arts and cultural institutions, and other mission-driven groups.

The company's solutions support fundraising, donor and constituent relationship management, financial management, grantmaking, marketing, ticketing, education administration, and peer-to-peer and charitable giving.

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