Fuller & Thaler Asset Management Inc. Reduces Stock Holdings in Blackbaud, Inc. $BLKB

Key Points

• Fuller & Thaler Asset Management Inc. reduced its position in Blackbaud, Inc. by 42.2% in the first quarter, owning 487,703 shares worth approximately $30.26 million after the sale.
• Director Rupal S. Hollenbeck and EVP Kevin P. Gregoire both sold shares in Blackbaud, with Hollenbeck's sale leading to a 23.89% decrease in their ownership.
• Wall Street analysts have varied opinions on Blackbaud, with one upgrading the stock to a "buy" rating while others maintain a "hold" rating, reflecting a consensus average price target of $78.67.

Fuller & Thaler Asset Management Inc. lessened its stake in shares of Blackbaud, Inc. (NASDAQ:BLKB - Free Report) by 42.2% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 487,703 shares of the technology company's stock after selling 355,414 shares during the quarter. Fuller & Thaler Asset Management Inc. owned about 1.01% of Blackbaud worth $30,262,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in BLKB. Nuveen LLC purchased a new position in shares of Blackbaud in the first quarter worth approximately $25,302,000. Penn Capital Management Company LLC purchased a new position in shares of Blackbaud in the fourth quarter worth approximately $10,581,000. Public Sector Pension Investment Board purchased a new position in shares of Blackbaud in the first quarter worth approximately $7,858,000. Raymond James Financial Inc. purchased a new position in shares of Blackbaud in the fourth quarter worth approximately $6,546,000. Finally, Goodman Advisory Group LLC purchased a new position in shares of Blackbaud in the first quarter worth approximately $4,630,000. Hedge funds and other institutional investors own 94.21% of the company's stock.

Insider Buying and Selling at Blackbaud

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Wall Street Zen raised shares of Blackbaud from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. Stifel Nicolaus dropped their price objective on shares of Blackbaud from $75.00 to $65.00 and set a "hold" rating on the stock in a report on Thursday, May 1st. One investment analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $78.67.

Blackbaud Price Performance

Shares of BLKB stock traded down $0.5850 during mid-day trading on Monday, hitting $65.8750. The company had a trading volume of 18,566 shares, compared to its average volume of 299,933. Blackbaud, Inc. has a 52-week low of $58.05 and a 52-week high of $88.95. The stock's 50 day moving average price is $64.26 and its 200-day moving average price is $64.40. The company has a debt-to-equity ratio of 12.92, a current ratio of 0.84 and a quick ratio of 0.84. The company has a market capitalization of $3.20 billion, a P/E ratio of -11.35, a P/E/G ratio of 4.64 and a beta of 1.13.

Blackbaud (NASDAQ:BLKB - Get Free Report) last released 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 firm had revenue of $281.38 million for the quarter, compared to the consensus estimate of $276.48 million. During the same quarter in the previous year, the firm earned $1.08 earnings per share. The company's quarterly revenue was down 2.1% compared to the same quarter last year. Blackbaud has set its FY 2025 guidance at 4.300-4.500 EPS. Equities research analysts forecast that Blackbaud, Inc. will post 3.05 earnings per share for the current year.

Blackbaud Company 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.