Empowered Funds LLC Takes $2.19 Million Position in Blackbaud, Inc. $BLKB

Key Points

• Empowered Funds LLC acquired 73,945 Blackbaud shares worth approximately $2.19 million, giving it a 0.16% stake. Institutional investors collectively own 94.21% of the company.
• Blackbaud exceeded quarterly EPS expectations, reporting $1.33 versus the $1.23 consensus, while revenue rose 3.3% year over year to $290.6 million, slightly below estimates.
• Analyst sentiment remains mixed, with an overall “Hold” rating and a $48.50 consensus price target. Shares opened at $47.47, while company insiders have sold 43,086 shares worth about $2.0 million over the past 90 days.

Empowered Funds LLC acquired a new position in shares of Blackbaud, Inc. (NASDAQ:BLKB - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 73,945 shares of the technology company's stock, valued at approximately $2,190,000. Empowered Funds LLC owned 0.16% of Blackbaud as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the company. Rothschild Investment LLC lifted its holdings in Blackbaud by 589.0% in the fourth quarter. Rothschild Investment LLC now owns 565 shares of the technology company's stock valued at $36,000 after buying an additional 483 shares during the period. EverSource Wealth Advisors LLC grew its holdings in Blackbaud by 380.5% during the 4th quarter. EverSource Wealth Advisors LLC now owns 615 shares of the technology company's stock worth $39,000 after acquiring an additional 487 shares during the period. TD Private Client Wealth LLC raised its position in shares of Blackbaud by 4,300.0% in the 4th quarter. TD Private Client Wealth LLC now owns 616 shares of the technology company's stock worth $39,000 after acquiring an additional 602 shares in the last quarter. Quarry LP bought a new position in shares of Blackbaud in the 3rd quarter worth about $46,000. Finally, Kestra Advisory Services LLC acquired a new position in shares of Blackbaud in the 4th quarter valued at about $47,000. Institutional investors own 94.21% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on BLKB. Weiss Ratings upgraded Blackbaud from a "sell (d)" rating to a "sell (d+)" rating in a research report on Thursday, August 6th. Stifel Nicolaus lowered their target price on Blackbaud from $45.00 to $30.00 and set a "hold" rating for the company in a report on Friday, July 10th. Raymond James Financial reissued an "outperform" rating and issued a $55.00 price target on shares of Blackbaud in a research note on Wednesday, July 29th. Finally, Robert W. Baird set a $54.00 price target on Blackbaud in a report on Thursday, July 30th. Two equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Blackbaud presently has an average rating of "Hold" and a consensus target price of $48.50.

Blackbaud Trading Down 0.6%

BLKB opened at $47.47 on Thursday. The company has a fifty day moving average price of $38.62 and a two-hundred day moving average price of $37.87. Blackbaud, Inc. has a 1-year low of $25.58 and a 1-year high of $70.71. The company has a market cap of $2.15 billion, a P/E ratio of 14.83, a price-to-earnings-growth ratio of 1.64 and a beta of 0.99. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 16.82.

Blackbaud (NASDAQ:BLKB - Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The technology company reported $1.33 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.23 by $0.10. The company had revenue of $290.60 million for the quarter, compared to analysts' expectations of $292.23 million. Blackbaud had a net margin of 13.12% and a return on equity of 197.49%. The business's revenue was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.21 EPS. Blackbaud has set its FY 2026 guidance at 5.150-5.250 EPS. Analysts predict that Blackbaud, Inc. will post 3.71 EPS for the current fiscal year.

Insider Transactions at Blackbaud

In other news, EVP Kevin P. Gregoire sold 22,000 shares of the business's stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $45.50, for a total transaction of $1,001,000.00. Following the completion of the sale, the executive vice president owned 113,194 shares in the company, valued at $5,150,327. The trade was a 16.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP David J. Benjamin sold 2,086 shares of the business's stock in a transaction that occurred on Monday, August 31st. The shares were sold at an average price of $48.27, for a total value of $100,691.22. Following the sale, the executive vice president owned 71,038 shares of the company's stock, valued at approximately $3,429,004.26. This represents a 2.85% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 43,086 shares of company stock valued at $2,001,761 in the last 90 days. Corporate insiders own 2.01% of the company's stock.

Blackbaud 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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