Nissay Asset Management Corp Japan ADV Decreases Holdings in Blackbaud, Inc. $BLKB

Key Points

• Nissay Asset Management Corp Japan ADV reduced its stake in Blackbaud, Inc. by 38.7%, selling 6,637 shares and retaining 10,529 shares valued at $653,000.
• Other institutional investors, including Versant Capital Management and UMB Bank, increased their holdings in Blackbaud by over 127% and 63% respectively during the 1st quarter.
• Blackbaud reported a positive earnings per share of $1.21 for the last quarter, exceeding estimates, while the company set a FY 2025 guidance of 4.300-4.500 EPS.

Nissay Asset Management Corp Japan ADV cut its position in shares of Blackbaud, Inc. (NASDAQ:BLKB - Free Report) by 38.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,529 shares of the technology company's stock after selling 6,637 shares during the quarter. Nissay Asset Management Corp Japan ADV's holdings in Blackbaud were worth $653,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of BLKB. Versant Capital Management Inc increased its position in shares of Blackbaud by 127.4% during 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% during the first 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. KBC Group NV boosted its stake in Blackbaud by 31.8% during the first quarter. KBC Group NV now owns 2,209 shares of the technology company's stock worth $137,000 after acquiring an additional 533 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in Blackbaud by 11.2% during the first 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. Finally, Perbak Capital Partners LLP bought a new position in Blackbaud during the first quarter worth $203,000. 94.21% of the stock is currently owned by institutional investors and hedge funds.

Blackbaud Stock Down 0.1%

Shares of Blackbaud stock traded down $0.04 during trading hours on Monday, reaching $69.56. The company's stock had a trading volume of 32,896 shares, compared to its average volume of 297,370. Blackbaud, Inc. has a one year low of $58.05 and a one year high of $88.95. The company has a market capitalization of $3.37 billion, a P/E ratio of -12.04, a P/E/G ratio of 4.86 and a beta of 1.15. The stock's fifty day simple moving average is $65.35 and its two-hundred day simple moving average is $63.77. 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 data on Wednesday, July 30th. The technology company reported $1.21 earnings per share for the quarter, beating analysts' consensus estimates 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 analyst estimates of $276.48 million. During the same period last year, the firm earned $1.08 earnings per share. The business'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. On average, research analysts forecast that Blackbaud, Inc. will post 3.05 earnings per share for the current year.

Insider Transactions at Blackbaud

In related news, Director Rupal S. Hollenbeck sold 2,500 shares of the firm's stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $63.98, for a total transaction of $159,950.00. Following the transaction, the director directly owned 7,966 shares of the company's stock, valued at $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 Securities & Exchange Commission, which is available at this link. Also, EVP Kevin P. Gregoire sold 8,000 shares of the firm's stock in a transaction dated Wednesday, July 30th. The shares were sold at an average price of $72.67, for a total transaction of $581,360.00. Following the transaction, the executive vice president directly owned 111,156 shares in the company, 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 owned by company insiders.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised shares of Blackbaud from a "hold" rating to a "buy" rating in a research note 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. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $78.67.

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.