Blackbaud, Inc. $BLKB Stake Reduced by Van Berkom & Associates Inc.

Key Points

• Van Berkom & Associates cut its Blackbaud stake by 7.9% in the first quarter, selling 61,280 shares and leaving it with 718,655 shares valued at about $27.7 million.
• Blackbaud reported better-than-expected first-quarter earnings of $1.14 per share on revenue of $281.14 million, with revenue up 4.2% year over year.
• Sentiment around the stock appears mixed: CFO Chad Anderson sold shares in a pre-arranged trade, while analysts now have an average Hold rating and a $48.75 price target after several recent target cuts and rating changes.

Van Berkom & Associates Inc. trimmed its stake in Blackbaud, Inc. (NASDAQ:BLKB - Free Report) by 7.9% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 718,655 shares of the technology company's stock after selling 61,280 shares during the quarter. Van Berkom & Associates Inc. owned approximately 1.56% of Blackbaud worth $27,747,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of BLKB. Parallel Advisors LLC increased its holdings in shares of Blackbaud by 528.0% in the 1st quarter. Parallel Advisors LLC now owns 785 shares of the technology company's stock worth $30,000 after acquiring an additional 660 shares during the period. Kesler Norman & Wride LLC increased its stake in shares of Blackbaud by 33.9% in the first quarter. Kesler Norman & Wride LLC now owns 17,967 shares of the technology company's stock valued at $694,000 after purchasing an additional 4,552 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in shares of Blackbaud by 7.4% during the first quarter. Allspring Global Investments Holdings LLC now owns 169,986 shares of the technology company's stock valued at $6,563,000 after buying an additional 11,648 shares during the last quarter. Hillsdale Investment Management Inc. boosted its position in shares of Blackbaud by 13.3% during the first quarter. Hillsdale Investment Management Inc. now owns 138,100 shares of the technology company's stock worth $5,332,000 after buying an additional 16,200 shares during the period. Finally, Principal Financial Group Inc. increased its position in Blackbaud by 1.8% in the 1st quarter. Principal Financial Group Inc. now owns 81,446 shares of the technology company's stock valued at $3,145,000 after acquiring an additional 1,448 shares during the period. Institutional investors and hedge funds own 94.21% of the company's stock.

Blackbaud Stock Performance

NASDAQ:BLKB opened at $32.40 on Monday. Blackbaud, Inc. has a twelve month low of $25.58 and a twelve month high of $74.88. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 33.66. The company has a 50-day moving average of $29.58 and a 200-day moving average of $40.80. The firm has a market cap of $1.49 billion, a price-to-earnings ratio of 10.98, a price-to-earnings-growth ratio of 1.15 and a beta of 1.01.

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

Insider Activity at Blackbaud

In other news, CFO Chad Anderson sold 6,205 shares of the firm's stock in a transaction on Monday, June 1st. The stock was sold at an average price of $31.31, for a total transaction of $194,278.55. Following the completion of the sale, the chief financial officer directly owned 62,869 shares of the company's stock, valued at $1,968,428.39. This trade represents a 8.98% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 1.97% of the company's stock.

Analyst Upgrades and Downgrades

BLKB has been the subject of several recent analyst reports. Stifel Nicolaus decreased their price target on Blackbaud from $45.00 to $30.00 and set a "hold" rating for the company in a research note on Friday, July 10th. Weiss Ratings upgraded shares of Blackbaud from a "sell (d)" rating to a "sell (d+)" rating in a report on Wednesday, July 8th. Zacks Research cut Blackbaud from a "strong-buy" rating to a "hold" rating in a report on Monday, April 13th. Finally, Robert W. Baird upgraded Blackbaud from a "neutral" rating to an "outperform" rating and cut their target price for the stock from $60.00 to $50.00 in a research report on Thursday, April 30th. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $48.75.

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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