Jacobs Levy Equity Management Inc. Invests $6.15 Million 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 stake in Blackbaud, Inc. (NASDAQ:BLKB - Free Report) during the first quarter, according to its most recent disclosure 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 0.20% of Blackbaud as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of BLKB. Greenhouse Funds LLLP bought a new position in Blackbaud in the 1st quarter valued at about $31,217,000. Nuveen LLC bought a new position in Blackbaud in the 1st quarter valued at about $25,302,000. Jane Street Group LLC raised its holdings in Blackbaud by 886.2% in the 1st quarter. Jane Street Group LLC now owns 159,729 shares of the technology company's stock valued at $9,911,000 after acquiring an additional 143,533 shares during the period. Public Sector Pension Investment Board bought a new position in Blackbaud in the 1st quarter valued at about $7,858,000. Finally, Goodman Advisory Group LLC bought a new position in Blackbaud in the 1st quarter valued at about $4,630,000. 94.21% of the stock is owned by institutional investors.

Blackbaud Price Performance

Shares of NASDAQ BLKB traded down $0.57 during trading hours on Friday, hitting $69.60. 261,981 shares of the stock were exchanged, compared to its average volume of 261,243. The company has a debt-to-equity ratio of 12.92, a quick ratio of 0.84 and a current ratio of 0.84. The company has a market cap of $3.38 billion, a PE ratio of -12.04, a price-to-earnings-growth ratio of 4.90 and a beta of 1.15. The company's fifty day simple moving average is $65.35 and its two-hundred day simple moving average is $63.78. Blackbaud, Inc. has a 1-year low of $58.05 and a 1-year high of $88.95.

Blackbaud (NASDAQ:BLKB - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The technology company reported $1.21 earnings per share (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 business had revenue of $281.38 million for the quarter, compared to analyst estimates of $276.48 million. During the same quarter last year, the business posted $1.08 EPS. The firm's revenue for the quarter 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, sell-side analysts predict that Blackbaud, Inc. will post 3.05 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded shares of Blackbaud from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. One 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, the stock has an average rating of "Hold" and an average price target of $78.67.

Insider Buying and Selling at Blackbaud

In other Blackbaud news, Director Rupal S. Hollenbeck sold 2,500 shares of the firm'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 completion of the sale, the director directly owned 7,966 shares in the company, valued at approximately $509,664.68. This trade represents a 23.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Kevin P. Gregoire sold 8,000 shares of the firm'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 of the company's stock, valued at $8,077,706.52. The trade was a 6.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.97% of the stock is currently owned by company insiders.

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.