Jacobs Levy Equity Management Inc. Makes New Investment in Blackbaud, Inc. $BLKB

Key Points

• Jacobs Levy Equity Management Inc. has established a new position in Blackbaud, Inc., acquiring 99,178 shares valued at approximately $6.15 million, equating to roughly 0.20% of the company.
• Blackbaud's shares received an upgrade from a "hold" to a "buy" rating from Wall Street Zen, reflecting growing institutional interest with 94.21% of stock currently owned by institutional investors.
• In its latest quarter, Blackbaud reported an EPS of $1.21, surpassing estimates and setting guidance for FY 2025 at 4.300-4.500 EPS, amid a revenue decline of 2.1% year-over-year.

Jacobs Levy Equity Management Inc. bought a new position in shares of Blackbaud, Inc. (NASDAQ:BLKB - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 99,178 shares of the technology company's stock, valued at approximately $6,154,000. Jacobs Levy Equity Management Inc. owned approximately 0.20% of Blackbaud at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Avantax Advisory Services Inc. grew its holdings in Blackbaud by 1.8% during the 1st quarter. Avantax Advisory Services Inc. now owns 11,816 shares of the technology company's stock worth $733,000 after acquiring an additional 210 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings 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 worth $143,000 after acquiring an additional 231 shares in the last quarter. UMB Bank n.a. grew its holdings in Blackbaud by 63.2% during the 1st quarter. UMB Bank n.a. now owns 692 shares of the technology company's stock worth $43,000 after acquiring an additional 268 shares in the last quarter. Procyon Advisors LLC grew its holdings in Blackbaud by 8.0% during the 1st quarter. Procyon Advisors LLC now owns 3,722 shares of the technology company's stock worth $231,000 after acquiring an additional 275 shares in the last quarter. Finally, Versant Capital Management Inc grew its holdings in Blackbaud by 127.4% during the 1st quarter. Versant Capital Management Inc now owns 523 shares of the technology company's stock worth $32,000 after acquiring an additional 293 shares in the last quarter. 94.21% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

Blackbaud Stock Performance

BLKB stock opened at $67.87 on Tuesday. The firm has a market cap of $3.29 billion, a price-to-earnings ratio of -11.74, a PEG ratio of 4.65 and a beta of 1.15. The firm has a 50-day simple moving average of $65.06 and a two-hundred day simple moving average of $63.70. Blackbaud, Inc. has a one year low of $58.05 and a one year high of $88.95. 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 released its quarterly earnings results on Wednesday, July 30th. The technology company reported $1.21 EPS for the quarter, beating 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 business had revenue of $281.38 million during the quarter, compared to analyst estimates of $276.48 million. During the same period in the prior year, the firm posted $1.08 earnings per share. The company'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. On average, equities analysts forecast that Blackbaud, Inc. will post 3.05 EPS for the current fiscal year.

Insider Activity at Blackbaud

In related news, EVP Kevin P. Gregoire sold 8,000 shares of the stock in a transaction that occurred on Wednesday, July 30th. The shares were sold at an average price of $72.67, for a total value of $581,360.00. Following the completion of the transaction, the executive vice president directly owned 111,156 shares of the company's stock, valued at $8,077,706.52. This trade represents a 6.71% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Rupal S. Hollenbeck sold 2,500 shares of the stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $63.98, for a total transaction of $159,950.00. Following the completion of the transaction, the director directly owned 7,966 shares of the company's stock, valued at $509,664.68. The trade was a 23.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.97% of the company's stock.

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.

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