Quantbot Technologies LP Acquires 13,201 Shares of Blackbaud, Inc. $BLKB

Key Points

• Quantbot Technologies LP significantly increased its stake in Blackbaud, Inc. by 401.7% during the first quarter, owning 16,487 shares valued at approximately $1,023,000.
• Blackbaud's recent earnings report showed earnings per share of $1.21, surpassing analysts’ expectations, despite a year-over-year revenue decline of 2.1%.
• Recent rating changes include a buy upgrade from Wall Street Zen and a target price reduction by Stifel Nicolaus from $75 to $65.

Quantbot Technologies LP lifted its stake in shares of Blackbaud, Inc. (NASDAQ:BLKB - Free Report) by 401.7% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 16,487 shares of the technology company's stock after acquiring an additional 13,201 shares during the period. Quantbot Technologies LP's holdings in Blackbaud were worth $1,023,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Versant Capital Management Inc lifted its position 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 valued at $32,000 after acquiring an additional 293 shares during the period. UMB Bank n.a. lifted its position 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 valued at $43,000 after acquiring an additional 268 shares during the period. KBC Group NV lifted its position in shares of Blackbaud by 31.8% during the 1st quarter. KBC Group NV now owns 2,209 shares of the technology company's stock valued at $137,000 after acquiring an additional 533 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of Blackbaud by 11.2% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,300 shares of the technology company's stock valued at $143,000 after acquiring an additional 231 shares during the period. Finally, Tower Research Capital LLC TRC lifted its position in shares of Blackbaud by 156.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,875 shares of the technology company's stock valued at $213,000 after acquiring an additional 1,752 shares during the period. Institutional investors and hedge funds own 94.21% of the company's stock.

Blackbaud Stock Down 0.1%

Shares of BLKB stock traded down $0.06 on Thursday, hitting $66.50. The stock had a trading volume of 79,370 shares, compared to its average volume of 299,620. The business has a 50 day moving average of $64.54 and a 200 day moving average of $64.34. The stock has a market cap of $3.23 billion, a price-to-earnings ratio of -11.50, a price-to-earnings-growth ratio of 4.55 and a beta of 1.13. The company has a debt-to-equity ratio of 12.92, a current ratio of 0.84 and a quick ratio of 0.84. Blackbaud, Inc. has a 12-month low of $58.05 and a 12-month high of $88.95.

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

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on BLKB. Stifel Nicolaus dropped their target price on shares of Blackbaud from $75.00 to $65.00 and set a "hold" rating on the stock in a research report on Thursday, May 1st. Wall Street Zen upgraded shares of Blackbaud from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average 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 firm's stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $63.98, for a total transaction of $159,950.00. Following the completion of the sale, the director owned 7,966 shares in the company, valued at approximately $509,664.68. This trade represents a 23.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Kevin P. Gregoire sold 8,000 shares of the firm's stock in a transaction dated Wednesday, July 30th. The stock was sold at an average price of $72.67, for a total transaction of $581,360.00. Following the sale, the executive vice president owned 111,156 shares of the company's stock, valued at $8,077,706.52. This trade represents a 6.71% decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.97% of the company's stock.

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.