Blackbaud, Inc. $BLKB Shares Bought by Russell Investments Group Ltd.

Key Points

• Russell Investments Group Ltd. increased its ownership in Blackbaud, Inc. by 229.7% in Q1, owning 34,204 shares valued at $2.12 million, highlighting strong institutional interest.
• Blackbaud reported $1.21 EPS in its last quarterly earnings, surpassing analysts' expectations of $1.05, although revenue fell 2.1% year-over-year to $281.38 million.
• Analysts have mixed ratings on Blackbaud, with Wall Street Zen upgrading it to a "buy," while Stifel Nicolaus lowered its target price from $75 to $65, maintaining a "hold" rating.

Russell Investments Group Ltd. increased its holdings in shares of Blackbaud, Inc. (NASDAQ:BLKB - Free Report) by 229.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 34,204 shares of the technology company's stock after acquiring an additional 23,829 shares during the period. Russell Investments Group Ltd. owned approximately 0.07% of Blackbaud worth $2,122,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Versant Capital Management Inc grew its holdings 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. UMB Bank n.a. grew its holdings 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. KBC Group NV grew its holdings 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 during the period. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings 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 purchasing an additional 231 shares during the last quarter. Finally, Tower Research Capital LLC TRC raised its holdings in Blackbaud by 156.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,875 shares of the technology company's stock worth $213,000 after purchasing an additional 1,752 shares during the last quarter. Institutional investors and hedge funds own 94.21% of the company's stock.

Blackbaud Price Performance

NASDAQ:BLKB traded up $0.55 during trading hours on Friday, reaching $66.71. 208,446 shares of the company traded hands, compared to its average volume of 335,284. The firm's 50-day moving average is $64.77 and its 200-day moving average is $63.93. The stock has a market cap of $3.24 billion, a P/E ratio of -11.54, a P/E/G ratio of 4.66 and a beta of 1.15. 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, Inc. has a 1-year low of $58.05 and a 1-year high of $88.95.

Blackbaud (NASDAQ:BLKB - Get Free Report) last announced its 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. The firm had revenue of $281.38 million for 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%.Blackbaud's quarterly revenue was down 2.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.08 EPS. Blackbaud has set its FY 2025 guidance at 4.300-4.500 EPS. Equities research analysts expect that Blackbaud, Inc. will post 3.05 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In other Blackbaud news, Director Rupal S. Hollenbeck sold 2,500 shares of the business's stock in a transaction on Friday, August 8th. The stock was sold at an average price of $63.98, for a total value of $159,950.00. Following the completion of the transaction, the director directly owned 7,966 shares in the company, valued at approximately $509,664.68. The trade was a 23.89% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Kevin P. Gregoire sold 8,000 shares of the business's stock in a transaction on 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 transaction, 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 disclosure for this sale can be found here. 1.97% of the stock is currently owned by corporate insiders.

Blackbaud 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.