Nuveen LLC Purchases New Position in Blackbaud, Inc. $BLKB

Nuveen LLC bought a new stake in Blackbaud, Inc. (NASDAQ:BLKB - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 416,716 shares of the technology company's stock, valued at approximately $25,302,000. Nuveen LLC owned approximately 0.86% of Blackbaud at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Avantax Advisory Services Inc. increased its position in Blackbaud by 1.8% during the first 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 during the period. Mitsubishi UFJ Asset Management Co. Ltd. increased its position 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 during the period. UMB Bank n.a. increased its position 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 during the period. Procyon Advisors LLC increased its position in Blackbaud by 8.0% during the first quarter. Procyon Advisors LLC now owns 3,722 shares of the technology company's stock worth $231,000 after acquiring an additional 275 shares during the period. Finally, Versant Capital Management Inc increased its position in 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 acquiring an additional 293 shares during the period. Institutional investors own 94.21% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Stifel Nicolaus lowered their price target on shares of Blackbaud from $75.00 to $65.00 and set a "hold" rating on the stock in a research report on Thursday, May 1st. Wall Street Zen raised shares of Blackbaud from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. One equities research analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $78.67.

Blackbaud Price Performance

BLKB stock traded up $1.3150 during mid-day trading on Friday, hitting $66.4250. The stock had a trading volume of 57,181 shares, compared to its average volume of 300,201. 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 52 week low of $58.05 and a 52 week high of $88.95. The firm has a market capitalization of $3.22 billion, a P/E ratio of -11.49, a P/E/G ratio of 4.51 and a beta of 1.13. The firm has a fifty day simple moving average of $64.15 and a 200 day simple moving average of $64.69.

Blackbaud (NASDAQ:BLKB - Get Free Report) last released its 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 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 EPS. 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. As a group, research analysts forecast that Blackbaud, Inc. will post 3.05 EPS for the current year.

Insider Activity

In related news, EVP Kevin P. Gregoire sold 8,000 shares of Blackbaud stock in a transaction that occurred on Wednesday, July 30th. The shares were sold at an average price of $72.67, for a total transaction of $581,360.00. Following the sale, the executive vice president directly owned 111,156 shares of the company's stock, valued at approximately $8,077,706.52. The trade was 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 Blackbaud 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 sale, the director directly owned 7,966 shares in the company, valued at $509,664.68. This trade represents a 23.89% 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.

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.