Bank of New York Mellon Corp Sells 37,106 Shares of Blackbaud, Inc. $BLKB

Key Points

• Bank of New York Mellon reduced its Blackbaud stake by 9.3%, selling 37,106 shares and retaining 360,414 shares worth approximately $13.9 million. Institutional investors still own 94.21% of the company.
• Blackbaud reported adjusted quarterly EPS of $1.33, beating the $1.23 consensus, while revenue rose 3.3% year over year to $290.6 million but slightly missed estimates. Management projected fiscal 2026 EPS of $5.15–$5.25.
• Analyst sentiment remains mixed, with ratings ranging from buy to sell and an overall “Hold” consensus. The average price target is $48.50, compared with shares opening at $40.08.

Bank of New York Mellon Corp decreased its position in shares of Blackbaud, Inc. (NASDAQ:BLKB - Free Report) by 9.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 360,414 shares of the technology company's stock after selling 37,106 shares during the period. Bank of New York Mellon Corp owned about 0.78% of Blackbaud worth $13,916,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the company. Rothschild Investment LLC increased its holdings in shares of Blackbaud by 589.0% during the fourth quarter. Rothschild Investment LLC now owns 565 shares of the technology company's stock worth $36,000 after buying an additional 483 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of Blackbaud by 380.5% during the 4th quarter. EverSource Wealth Advisors LLC now owns 615 shares of the technology company's stock valued at $39,000 after acquiring an additional 487 shares in the last quarter. TD Private Client Wealth LLC boosted its holdings in shares of Blackbaud by 4,300.0% during the 4th quarter. TD Private Client Wealth LLC now owns 616 shares of the technology company's stock valued at $39,000 after acquiring an additional 602 shares in the last quarter. Quarry LP bought a new stake in Blackbaud during the 3rd quarter worth $46,000. Finally, Kestra Advisory Services LLC bought a new stake in Blackbaud during the 4th quarter worth $47,000. 94.21% of the stock is owned by institutional investors.

Insider Activity

In other Blackbaud news, CFO Chad Anderson sold 6,205 shares of the stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $31.31, for a total value of $194,278.55. Following the completion of the sale, the chief financial officer owned 62,869 shares in the company, valued at approximately $1,968,428.39. This trade represents a 8.98% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.01% of the stock is currently owned by insiders.

Blackbaud Trading Down 5.0%

NASDAQ:BLKB opened at $40.08 on Friday. Blackbaud, Inc. has a 12 month low of $25.58 and a 12 month high of $70.94. The company has a current ratio of 0.83, a quick ratio of 0.74 and a debt-to-equity ratio of 16.82. The stock has a market capitalization of $1.84 billion, a price-to-earnings ratio of 12.52, a PEG ratio of 1.50 and a beta of 1.01. The firm has a fifty day simple moving average of $30.13 and a two-hundred day simple moving average of $39.08.

Blackbaud (NASDAQ:BLKB - Get Free Report) last issued 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. Blackbaud had a return on equity of 197.49% and a net margin of 13.12%.The company had revenue of $290.60 million for the quarter, compared to analyst estimates of $292.23 million. During the same period in the prior year, the firm earned $1.21 earnings per share. Blackbaud's revenue for the quarter was up 3.3% on a year-over-year basis. Blackbaud has set its FY 2026 guidance at 5.150-5.250 EPS. Analysts expect that Blackbaud, Inc. will post 3.57 EPS for the current fiscal year.

Key Headlines Impacting Blackbaud

Here are the key news stories impacting Blackbaud this week:

• Positive Sentiment: Blackbaud reported adjusted earnings of $1.33 per share, exceeding the $1.23 analyst consensus and increasing from $1.21 a year earlier. Blackbaud Q2 earnings estimate report
• Positive Sentiment: Management raised or reaffirmed a favorable profit outlook, projecting fiscal 2026 EPS of $5.15 to $5.25 versus the $4.87 consensus estimate, and said it expects to finish in the upper half of its revenue, adjusted EBITDA, EPS and free-cash-flow ranges. Blackbaud Announces 2026 Second Quarter Results
• Positive Sentiment: Recurring revenue rose 3.3% to $285.3 million and represented 98.2% of total revenue, underscoring the stability of Blackbaud’s subscription-oriented business. Operating cash flow reached $91.1 million, and the company had approximately $850 million remaining under its share-repurchase authorization.
• Positive Sentiment: During the earnings call, executives emphasized Blackbaud’s AI-powered product strategy and continued financial execution, themes that may strengthen the company’s long-term growth narrative. Blackbaud Q2 earnings call highlights
• Neutral Sentiment: Second-quarter revenue increased approximately 3.0% to $290.6 million, while GAAP net income was $35.4 million, or $0.79 per diluted share. The company reaffirmed full-year GAAP revenue guidance of $1.173 billion to $1.179 billion. Blackbaud Q2 revenue report
• Negative Sentiment: Revenue fell slightly short of the $292.23 million consensus estimate, and the roughly 3% growth rate remains modest for a software company. Reports also noted that insiders made multiple sales and no open-market purchases during the past six months, a potentially cautionary sentiment signal.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on BLKB shares. Stifel Nicolaus reduced their price target on Blackbaud from $45.00 to $30.00 and set a "hold" rating on the stock in a report on Friday, July 10th. Raymond James Financial reiterated an "outperform" rating and set a $55.00 target price on shares of Blackbaud in a research report on Wednesday. Robert W. Baird set a $54.00 target price on shares of Blackbaud in a report on Thursday. Weiss Ratings cut shares of Blackbaud from a "sell (d+)" rating to a "sell (d)" rating in a research report on Thursday, July 23rd. Finally, Zacks Research downgraded shares of Blackbaud from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 13th. Two research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $48.50.

Blackbaud Profile

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.

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