Blackbaud, Inc. $BLKB Stock Position Lifted by Charles Schwab Investment Management Inc.

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. raised its position in Blackbaud, Inc. (NASDAQ:BLKB - Free Report) by 8.1% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm 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 0.92% of Blackbaud worth $27,685,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Versant Capital Management Inc raised its holdings in shares of Blackbaud by 127.4% in the 1st quarter. Versant Capital Management Inc now owns 523 shares of the technology company's stock worth $32,000 after purchasing an additional 293 shares during the period. UMB Bank n.a. raised its holdings in shares of Blackbaud by 63.2% in the 1st quarter. UMB Bank n.a. now owns 692 shares of the technology company's stock worth $43,000 after purchasing an additional 268 shares during the period. KBC Group NV raised its holdings in shares of Blackbaud by 31.8% in the 1st quarter. KBC Group NV now owns 2,209 shares of the technology company's stock worth $137,000 after purchasing an additional 533 shares during the period. Tower Research Capital LLC TRC raised its holdings in shares of Blackbaud by 156.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,875 shares of the technology company's stock worth $213,000 after purchasing an additional 1,752 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Blackbaud in the 4th quarter worth about $216,000. 94.21% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

BLKB has been the topic of a number of research reports. Stifel Nicolaus cut their price objective on Blackbaud from $75.00 to $65.00 and set a "hold" rating on the stock in a report on Thursday, May 1st. Wall Street Zen raised Blackbaud from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. One equities research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $78.67.

Insider Transactions at Blackbaud

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

Blackbaud Stock Up 2.1%

Shares of NASDAQ BLKB traded up $1.35 on Friday, hitting $66.46. The company had a trading volume of 288,766 shares, compared to its average volume of 401,958. Blackbaud, Inc. has a 12-month low of $58.05 and a 12-month high of $88.95. The business has a 50 day moving average of $64.26 and a two-hundred day moving average of $64.60. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 12.92. The firm has a market capitalization of $3.22 billion, a P/E ratio of -11.50, a PEG ratio of 4.55 and a beta of 1.13.

Blackbaud (NASDAQ:BLKB - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The technology company reported $1.21 EPS 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%.Blackbaud's revenue for the quarter was down 2.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.08 earnings per share. Blackbaud has set its FY 2025 guidance at 4.300-4.500 EPS. As a group, equities research analysts forecast that Blackbaud, Inc. will post 3.05 earnings per share for the current fiscal year.

Blackbaud Profile

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.