Charles Schwab Investment Management Inc. Acquires 33,500 Shares of Blackbaud, Inc. $BLKB

Key Points

• Charles Schwab Investment Management Inc. increased its stake in Blackbaud, Inc. by 8.1%, owning approximately 0.92% of the company valued at $27.7 million after acquiring an additional 33,500 shares.
• Institutional investors and hedge funds collectively own 94.21% of Blackbaud's stock, indicating significant institutional support for the company.
• Blackbaud recently reported earnings per share of $1.21, surpassing the analysts’ estimate of $1.05, while its revenue showed a slight year-over-year decline of 2.1%.

Charles Schwab Investment Management Inc. grew its stake in shares of Blackbaud, Inc. (NASDAQ:BLKB - Free Report) by 8.1% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 446,173 shares of the technology company's stock after purchasing an additional 33,500 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.92% of Blackbaud worth $27,685,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Avantax Advisory Services Inc. increased its holdings in shares of Blackbaud by 1.8% during the 1st quarter. Avantax Advisory Services Inc. now owns 11,816 shares of the technology company's stock worth $733,000 after acquiring an additional 210 shares during the last quarter. UMB Bank n.a. increased its holdings in shares of Blackbaud by 63.2% during the 1st quarter. UMB Bank n.a. now owns 692 shares of the technology company's stock worth $43,000 after acquiring an additional 268 shares during the last quarter. Procyon Advisors LLC increased its holdings in shares of Blackbaud by 8.0% during the 1st quarter. Procyon Advisors LLC now owns 3,722 shares of the technology company's stock worth $231,000 after acquiring an additional 275 shares during the last quarter. Versant Capital Management Inc increased its holdings in shares of Blackbaud by 127.4% during the 1st quarter. Versant Capital Management Inc now owns 523 shares of the technology company's stock worth $32,000 after acquiring an additional 293 shares during the last quarter. Finally, EP Wealth Advisors LLC increased its holdings in shares of Blackbaud by 10.7% during the 4th quarter. EP Wealth Advisors LLC now owns 3,843 shares of the technology company's stock worth $284,000 after acquiring an additional 372 shares during the last quarter. Institutional investors and hedge funds own 94.21% of the company's stock.

Blackbaud Stock Performance

NASDAQ BLKB traded down $1.24 on Monday, reaching $65.22. The stock had a trading volume of 163,295 shares, compared to its average volume of 407,995. The company has a debt-to-equity ratio of 12.92, a current ratio of 0.84 and a quick ratio of 0.84. The firm has a fifty day moving average of $64.32 and a two-hundred day moving average of $64.32. Blackbaud, Inc. has a 1-year low of $58.05 and a 1-year high of $88.95. The company has a market cap of $3.16 billion, a P/E ratio of -11.28, a price-to-earnings-growth ratio of 4.64 and a beta of 1.13.

Blackbaud (NASDAQ:BLKB - Get Free Report) last released its earnings results on Wednesday, July 30th. The technology company reported $1.21 earnings per share for the quarter, beating analysts' consensus estimates of $1.05 by $0.16. The firm had revenue of $281.38 million during the quarter, compared to the consensus estimate of $276.48 million. Blackbaud had a positive return on equity of 61.72% and a negative net margin of 24.82%.The company's revenue was down 2.1% compared to the same quarter last year. During the same period in the prior year, the company posted $1.08 EPS. Blackbaud has set its FY 2025 guidance at 4.300-4.500 EPS. On average, equities research analysts anticipate that Blackbaud, Inc. will post 3.05 EPS for the current year.

Insiders Place Their Bets

In other news, EVP Kevin P. Gregoire sold 8,000 shares of the company's stock in a transaction on Wednesday, July 30th. The stock was sold at an average price of $72.67, for a total transaction of $581,360.00. Following the completion of the sale, the executive vice president directly owned 111,156 shares in the company, valued at approximately $8,077,706.52. This represents a 6.71% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Rupal S. Hollenbeck sold 2,500 shares of the company's stock in a transaction on Friday, August 8th. The shares were sold at an average price of $63.98, for a total value of $159,950.00. Following the sale, the director owned 7,966 shares of the company's stock, valued at approximately $509,664.68. The trade was a 23.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.97% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Wall Street Zen raised Blackbaud from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. Stifel Nicolaus decreased their target price on Blackbaud from $75.00 to $65.00 and set a "hold" rating on the stock in a report on Thursday, May 1st. One analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $78.67.

About Blackbaud

Blackbaud, Inc provides cloud software solutions to nonprofits, foundations, education institutions, and healthcare organizations in the United States and internationally. The company offers fundraising and engagement solutions, such as Blackbaud Raiser's Edge NXT, Blackbaud CRM, Blackbaud eTapestry, Blackbaud Luminate Online, Blackbaud TeamRaiser, JustGiving, Blackbaud Fundraiser Performance Management, Blackbaud Guided Fundraising, and Blackbaud Altru; and financial management solutions comprising Blackbaud Financial Edge NXT, Blackbaud Tuition Management, and Blackbaud Financial Aid and Billing Management.