Blackbaud, Inc. $BLKB Shares Bought by Northwestern Mutual Wealth Management Co.

Key Points

• Northwestern Mutual Wealth Management Co. massively increased its stake in Blackbaud during the fourth quarter, ending with 2.2 million shares worth about $139.8 million, or roughly 4.61% of the company.
• Blackbaud reported better-than-expected quarterly results, posting EPS of $1.14 versus the $1.08 estimate and revenue of $281.14 million, up 4.2% year over year.
• Despite the earnings beat, sentiment remains cautious: several analysts rate the stock Hold, and Blackbaud shares were trading near $30.85, close to their 52-week low and well below their 200-day average.

Northwestern Mutual Wealth Management Co. grew its stake in shares of Blackbaud, Inc. (NASDAQ:BLKB - Free Report) by 143,409.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,207,179 shares of the technology company's stock after purchasing an additional 2,205,641 shares during the quarter. Northwestern Mutual Wealth Management Co. owned approximately 4.61% of Blackbaud worth $139,759,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in BLKB. Quarry LP acquired a new stake in Blackbaud during the third quarter worth approximately $46,000. Versant Capital Management Inc increased its holdings in shares of Blackbaud by 68.3% in the 3rd quarter. Versant Capital Management Inc now owns 786 shares of the technology company's stock valued at $51,000 after acquiring an additional 319 shares during the period. Annis Gardner Whiting Capital Advisors LLC acquired a new position in shares of Blackbaud in the 3rd quarter valued at $61,000. iSAM Funds UK Ltd acquired a new position in shares of Blackbaud in the 3rd quarter valued at $67,000. Finally, GAMMA Investing LLC increased its holdings in shares of Blackbaud by 64.7% in the 4th quarter. GAMMA Investing LLC now owns 1,280 shares of the technology company's stock valued at $81,000 after acquiring an additional 503 shares during the period. Institutional investors and hedge funds own 94.21% of the company's stock.

Insider Activity at Blackbaud

In related news, EVP Kevin P. Gregoire sold 2,000 shares of the business's stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $50.02, for a total value of $100,040.00. Following the completion of the transaction, the executive vice president owned 135,194 shares of the company's stock, valued at approximately $6,762,403.88. The trade was a 1.46% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Kevin Mcdearis sold 15,462 shares of the business's stock in a transaction dated Monday, February 23rd. The shares were sold at an average price of $46.43, for a total transaction of $717,900.66. Following the completion of the transaction, the executive vice president directly owned 91,756 shares of the company's stock, valued at $4,260,231.08. The trade was a 14.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 39,801 shares of company stock valued at $1,893,874. 1.97% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have commented on BLKB. Zacks Research lowered shares of Blackbaud from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 13th. Weiss Ratings upgraded shares of Blackbaud from a "sell (d)" rating to a "sell (d+)" rating in a research report on Monday, May 4th. Stifel Nicolaus decreased their price objective on shares of Blackbaud from $50.00 to $45.00 and set a "hold" rating on the stock in a research report on Tuesday, April 28th. Raymond James Financial set a $60.00 price objective on shares of Blackbaud in a research report on Tuesday, February 10th. Finally, Evercore set a $55.00 price objective on shares of Blackbaud in a research report on Wednesday, February 11th. One analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, Blackbaud currently has an average rating of "Hold" and an average target price of $52.50.

Blackbaud Price Performance

Blackbaud stock opened at $30.85 on Friday. Blackbaud, Inc. has a 52 week low of $30.69 and a 52 week high of $74.88. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 33.66. The firm's 50-day simple moving average is $39.12 and its 200 day simple moving average is $50.92. The firm has a market capitalization of $1.42 billion, a PE ratio of 10.46, a P/E/G ratio of 1.10 and a beta of 1.09.

Blackbaud (NASDAQ:BLKB - Get Free Report) last released its quarterly earnings data on Wednesday, April 29th. The technology company reported $1.14 EPS for the quarter, topping the consensus estimate of $1.08 by $0.06. Blackbaud had a net margin of 12.41% and a return on equity of 176.76%. The business had revenue of $281.14 million for the quarter, compared to analyst estimates of $279.81 million. During the same period in the previous year, the firm earned $0.96 EPS. The business's revenue for the quarter was up 4.2% compared to the same quarter last year. Blackbaud has set its FY 2026 guidance at 5.150-5.250 EPS. On average, equities research analysts predict that Blackbaud, Inc. will post 3.57 EPS for the current fiscal year.

Blackbaud Company 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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