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

Other hedge funds and other institutional investors have also made changes to their positions in the company. Versant Capital Management Inc boosted its holdings in shares of Blackbaud by 127.4% during the 1st quarter. Versant Capital Management Inc now owns 523 shares of the technology company's stock valued at $32,000 after purchasing an additional 293 shares during the last quarter. UMB Bank n.a. boosted its holdings in shares of Blackbaud by 63.2% during the 1st quarter. UMB Bank n.a. now owns 692 shares of the technology company's stock valued at $43,000 after purchasing an additional 268 shares during the last quarter. KBC Group NV boosted its holdings in shares of Blackbaud by 31.8% during the 1st quarter. KBC Group NV now owns 2,209 shares of the technology company's stock valued at $137,000 after purchasing an additional 533 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of 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 last quarter. Finally, Perbak Capital Partners LLP bought a new position in shares of Blackbaud during the 1st quarter valued at about $203,000. Institutional investors own 94.21% of the company's stock.

Blackbaud Stock Up 1.0%

Shares of NASDAQ:BLKB opened at $68.56 on Wednesday. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 12.92. Blackbaud, Inc. has a 12 month low of $58.05 and a 12 month high of $88.95. The company has a 50-day moving average price of $65.11 and a 200 day moving average price of $63.73. The company has a market cap of $3.33 billion, a price-to-earnings ratio of -11.86, a PEG ratio of 4.74 and a beta of 1.15.

Blackbaud (NASDAQ:BLKB - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The technology company reported $1.21 EPS 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 during the quarter, compared to the consensus estimate of $276.48 million. During the same quarter last year, the firm earned $1.08 EPS. The firm's revenue for the quarter was down 2.1% compared to the same quarter last year. Blackbaud has set its FY 2025 guidance at 4.300-4.500 EPS. As a group, equities research analysts predict that Blackbaud, Inc. will post 3.05 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

Insider Transactions at Blackbaud

In other Blackbaud news, 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 value 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. This trade represents a 6.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Rupal S. Hollenbeck sold 2,500 shares of the firm's stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $63.98, for a total transaction of $159,950.00. Following the completion of the sale, the director directly owned 7,966 shares of the company's stock, valued at approximately $509,664.68. The trade was a 23.89% decrease in their position. The disclosure for this sale can be found here. 1.97% of the stock is currently owned by company insiders.

About Blackbaud

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.

Want to see what other hedge funds are holding BLKB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Blackbaud, Inc. (NASDAQ:BLKB - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.