Man Group plc Makes New $1.86 Million Investment in Blackbaud, Inc. $BLKB

Key Points

• Man Group plc acquired 62,723 Blackbaud shares worth approximately $1.86 million in the second quarter, while institutional investors collectively own 94.21% of the company.
• Blackbaud exceeded quarterly earnings expectations, reporting $1.33 EPS versus the $1.23 consensus; revenue rose 3.3% year over year to $290.6 million, slightly below estimates.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and a $48.50 price target. Meanwhile, Blackbaud’s CEO and an executive vice president recently sold shares totaling about $1.81 million.

Man Group plc bought a new position in Blackbaud, Inc. (NASDAQ:BLKB - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 62,723 shares of the technology company's stock, valued at approximately $1,858,000. Man Group plc owned approximately 0.14% of Blackbaud as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. BlackRock Inc. purchased a new stake in Blackbaud in the second quarter worth $177,153,000. Northwestern Mutual Wealth Management Co. lifted its position in Blackbaud by 143,409.7% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,207,179 shares of the technology company's stock valued at $139,759,000 after buying an additional 2,205,641 shares during the period. Jupiter Topco LLC purchased a new position in Blackbaud during the second quarter valued at $47,145,000. Janus Henderson Group PLC boosted its holdings in shares of Blackbaud by 3.9% during the 1st quarter. Janus Henderson Group PLC now owns 1,555,833 shares of the technology company's stock valued at $60,071,000 after buying an additional 58,806 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Blackbaud by 0.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 975,085 shares of the technology company's stock valued at $61,743,000 after buying an additional 5,709 shares in the last quarter. Hedge funds and other institutional investors own 94.21% of the company's stock.

Blackbaud Price Performance

Shares of BLKB opened at $47.78 on Wednesday. Blackbaud, Inc. has a twelve month low of $25.58 and a twelve month high of $70.71. The company has a market capitalization of $2.17 billion, a P/E ratio of 14.93, a price-to-earnings-growth ratio of 1.65 and a beta of 0.99. The firm has a 50 day moving average of $38.22 and a 200 day moving average of $37.87. The company has a quick ratio of 0.83, a current 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, beating the consensus estimate of $1.23 by $0.10. Blackbaud had a return on equity of 197.49% and a net margin of 13.12%.The business had revenue of $290.60 million for the quarter, compared to analysts' expectations of $292.23 million. During the same period in the prior year, the firm posted $1.21 EPS. The firm's quarterly revenue was up 3.3% on a year-over-year basis. Blackbaud has set its FY 2026 guidance at 5.150-5.250 EPS. As a group, equities research analysts anticipate that Blackbaud, Inc. will post 3.71 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Blackbaud news, EVP Kevin P. Gregoire sold 22,000 shares of the business's stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $45.50, for a total value of $1,001,000.00. Following the completion of the transaction, the executive vice president owned 113,194 shares of the company's stock, valued at approximately $5,150,327. The trade was a 16.27% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Michael P. Gianoni sold 17,000 shares of the business's stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $47.35, for a total value of $804,950.00. Following the completion of the transaction, the chief executive officer directly owned 423,264 shares of the company's stock, valued at approximately $20,041,550.40. This trade represents a 3.86% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 2.01% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on BLKB shares. Raymond James Financial reiterated an "outperform" rating and issued a $55.00 price target on shares of Blackbaud in a research note on Wednesday, July 29th. Stifel Nicolaus cut their price objective on shares of Blackbaud from $45.00 to $30.00 and set a "hold" rating on the stock in a report on Friday, July 10th. Weiss Ratings raised shares of Blackbaud from a "sell (d)" rating to a "sell (d+)" rating in a research note on Thursday, August 6th. Finally, Robert W. Baird set a $54.00 target price on shares of 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's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $48.50.

Blackbaud Company 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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