Public Sector Pension Investment Board Makes New Investment in Blackbaud, Inc. $BLKB

Key Points

• The Public Sector Pension Investment Board invested approximately $7.86 million in Blackbaud, acquiring 126,639 shares, which represents about 0.26% of the company.
• Blackbaud's stock price saw an increase, trading at $63.28, with a market capitalization of $3.07 billion and a recent earnings report indicating an EPS of $1.21, beating estimates.
• Recent analyst reports reflect a range of ratings for Blackbaud, with Stifel Nicolaus lowering their price target to $65 but Wall Street Zen upgrading it to a "buy" rating, resulting in an average target of $78.67.

Public Sector Pension Investment Board bought a new position in Blackbaud, Inc. (NASDAQ:BLKB - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 126,639 shares of the technology company's stock, valued at approximately $7,858,000. Public Sector Pension Investment Board owned approximately 0.26% of Blackbaud at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. LPL Financial LLC raised its position in Blackbaud by 17.7% during the fourth quarter. LPL Financial LLC now owns 12,905 shares of the technology company's stock valued at $954,000 after purchasing an additional 1,940 shares during the period. Wells Fargo & Company MN increased its stake in Blackbaud by 6.3% during the 4th quarter. Wells Fargo & Company MN now owns 50,786 shares of the technology company's stock valued at $3,754,000 after purchasing an additional 3,017 shares in the last quarter. Russell Investments Group Ltd. raised its stake in shares of Blackbaud by 1,349.0% in the fourth quarter. Russell Investments Group Ltd. now owns 10,375 shares of the technology company's stock worth $767,000 after purchasing an additional 9,659 shares during the last quarter. Bank of Montreal Can increased its stake in shares of Blackbaud by 7.1% in the fourth quarter. Bank of Montreal Can now owns 14,686 shares of the technology company's stock worth $1,086,000 after acquiring an additional 975 shares during the period. Finally, Invesco Ltd. raised its stake in shares of Blackbaud by 1.1% during the 4th quarter. Invesco Ltd. now owns 71,288 shares of the technology company's stock valued at $5,270,000 after buying an additional 745 shares during the last quarter. Institutional investors own 94.21% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on BLKB shares. Stifel Nicolaus dropped their target price 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 upgraded Blackbaud from a "hold" rating to a "buy" rating in a 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 company has an average rating of "Hold" and a consensus price target of $78.67.

Insider Transactions at Blackbaud

In related news, EVP Kevin P. Gregoire sold 8,000 shares of Blackbaud stock in a transaction dated Wednesday, July 30th. The stock was sold at an average price of $72.67, for a total value of $581,360.00. Following the transaction, the executive vice president owned 111,156 shares of the company's stock, valued at approximately $8,077,706.52. This trade represents a 6.71% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through 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 value of $159,950.00. Following the sale, the director owned 7,966 shares of the company's stock, valued at $509,664.68. The trade was a 23.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.97% of the company's stock.

Blackbaud Stock Performance

NASDAQ BLKB traded down $0.06 on Tuesday, hitting $64.25. 60,394 shares of the company's stock were exchanged, compared to its average volume of 301,784. The firm has a market cap of $3.12 billion, a price-to-earnings ratio of -11.12, a P/E/G ratio of 4.42 and a beta of 1.13. Blackbaud, Inc. has a fifty-two week low of $58.05 and a fifty-two week high of $88.95. The firm's 50-day moving average price is $63.99 and its two-hundred day moving average price is $64.77. The company has a debt-to-equity ratio of 12.92, a current ratio of 0.84 and a quick ratio of 0.84.

Blackbaud (NASDAQ:BLKB - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The technology company reported $1.21 EPS for the quarter, topping analysts' consensus estimates of $1.05 by $0.16. The firm had revenue of $281.38 million during the quarter, compared to analysts' expectations of $276.48 million. Blackbaud had a positive return on equity of 61.72% and a negative net margin of 24.82%.The firm's quarterly revenue was down 2.1% compared to the same quarter last year. During the same quarter last year, the business posted $1.08 EPS. Blackbaud has set its FY 2025 guidance at 4.300-4.500 EPS. On average, research analysts expect that Blackbaud, Inc. will post 3.05 EPS for the current year.

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.