Blackbaud, Inc. $BLKB Shares Bought by Raymond James Financial Inc.

Raymond James Financial Inc. grew its holdings in Blackbaud, Inc. (NASDAQ:BLKB - Free Report) by 36.4% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 120,748 shares of the technology company's stock after buying an additional 32,194 shares during the period. Raymond James Financial Inc. owned 0.25% of Blackbaud worth $7,492,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Janus Henderson Group PLC increased its position in Blackbaud by 1.2% during the fourth quarter. Janus Henderson Group PLC now owns 2,885,062 shares of the technology company's stock worth $213,263,000 after purchasing an additional 34,600 shares during the last quarter. Northern Trust Corp boosted its stake in shares of Blackbaud by 9.1% in the fourth quarter. Northern Trust Corp now owns 693,577 shares of the technology company's stock valued at $51,269,000 after purchasing an additional 57,941 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of Blackbaud by 8.1% in the first quarter. Charles Schwab Investment Management Inc. now owns 446,173 shares of the technology company's stock valued at $27,685,000 after purchasing an additional 33,500 shares during the period. Nuveen LLC purchased a new position in shares of Blackbaud in the first quarter valued at approximately $25,302,000. Finally, New York State Common Retirement Fund grew its holdings in Blackbaud by 6.2% during the 1st quarter. New York State Common Retirement Fund now owns 299,632 shares of the technology company's stock worth $18,592,000 after acquiring an additional 17,382 shares in the last quarter. 94.21% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Rupal S. Hollenbeck sold 2,500 shares of the business's stock in a transaction dated 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 directly owned 7,966 shares in the company, valued at $509,664.68. The trade was a 23.89% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Kevin P. Gregoire sold 8,000 shares of the company's stock in a transaction dated Wednesday, July 30th. The shares were sold at an average price of $72.67, for a total transaction of $581,360.00. Following the completion of the transaction, the executive vice president owned 111,156 shares in the company, valued at approximately $8,077,706.52. This trade represents a 6.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.97% of the stock is owned by insiders.

Blackbaud Stock Performance

BLKB traded up $0.25 during trading on Friday, hitting $66.60. The stock had a trading volume of 260,626 shares, compared to its average volume of 260,327. The firm has a market capitalization of $3.23 billion, a P/E ratio of -11.52, a PEG ratio of 4.65 and a beta of 1.15. Blackbaud, Inc. has a twelve month low of $58.05 and a twelve month high of $88.95. The company's 50-day moving average price is $64.98 and its 200 day moving average price is $63.70. The company has a debt-to-equity ratio of 12.92, a quick ratio of 0.84 and a current ratio of 0.84.

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

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised Blackbaud from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. One investment analyst has rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target 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.