Invesco Ltd. Acquires 18,846 Shares of Blackbaud, Inc. $BLKB

Key Points

• Invesco Ltd. increased its stake in Blackbaud, Inc. by 26.4%, owning 90,134 shares valued at approximately $5.6 million after purchasing an additional 18,846 shares.
• Blackbaud reported an EPS of $1.21 for the last quarter, exceeding analyst estimates of $1.05, despite a 2.1% decline in revenue year-over-year.
• Analysts have mixed views on Blackbaud, with one upgrade to a "buy" rating and a revised consensus price target of $78.67, indicating potential for growth.

Invesco Ltd. lifted its stake in Blackbaud, Inc. (NASDAQ:BLKB - Free Report) by 26.4% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 90,134 shares of the technology company's stock after purchasing an additional 18,846 shares during the quarter. Invesco Ltd. owned 0.19% of Blackbaud worth $5,593,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of BLKB. Versant Capital Management Inc boosted its holdings in shares of Blackbaud by 127.4% in the first quarter. Versant Capital Management Inc now owns 523 shares of the technology company's stock worth $32,000 after buying an additional 293 shares during the period. UMB Bank n.a. boosted its stake in Blackbaud by 63.2% in the 1st quarter. UMB Bank n.a. now owns 692 shares of the technology company's stock worth $43,000 after purchasing an additional 268 shares during the period. KBC Group NV grew its position in Blackbaud by 31.8% during the 1st quarter. KBC Group NV now owns 2,209 shares of the technology company's stock worth $137,000 after purchasing an additional 533 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in Blackbaud by 11.2% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,300 shares of the technology company's stock valued at $143,000 after purchasing an additional 231 shares during the period. Finally, Tower Research Capital LLC TRC raised its stake in Blackbaud by 156.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,875 shares of the technology company's stock valued at $213,000 after purchasing an additional 1,752 shares during the period. Institutional investors and hedge funds own 94.21% of the company's stock.

Blackbaud Stock Down 0.3%

Shares of Blackbaud stock traded down $0.23 during midday trading on Tuesday, reaching $66.48. 13,796 shares of the company's stock traded hands, compared to its average volume of 298,031. 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, Inc. has a 52 week low of $58.05 and a 52 week high of $88.95. The company's 50 day simple moving average is $64.81 and its 200 day simple moving average is $63.84. The company has a market cap of $3.22 billion, a price-to-earnings ratio of -11.56, a price-to-earnings-growth ratio of 4.66 and a beta of 1.15.

Blackbaud (NASDAQ:BLKB - Get Free Report) last posted 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 period in the prior year, the business posted $1.08 earnings per share. The business's quarterly revenue was down 2.1% on a year-over-year basis. Blackbaud has set its FY 2025 guidance at 4.300-4.500 EPS. Equities analysts expect that Blackbaud, Inc. will post 3.05 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Rupal S. Hollenbeck sold 2,500 shares of the business's stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $63.98, for a total value of $159,950.00. Following the completion of the sale, the director directly owned 7,966 shares in the company, valued at approximately $509,664.68. The trade was a 23.89% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Kevin P. Gregoire sold 8,000 shares of Blackbaud stock in a transaction that occurred on 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 directly owned 111,156 shares in the company, valued at approximately $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 company insiders.

Analyst Ratings Changes

Separately, Wall Street Zen raised Blackbaud from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. One equities research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Blackbaud presently has a consensus rating of "Hold" and a consensus price target of $78.67.

Blackbaud 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.