Vanguard Group Inc. Reduces Stock Holdings in Blackbaud, Inc. $BLKB

Key Points

• Vanguard Group Inc. has decreased its stake in Blackbaud, Inc. by 3.8%, now holding approximately 11.49% of the company with a value of about $345.80 million.
• Analyst ratings have shifted, with Stifel Nicolaus lowering its target price from $75 to $65, while Wall Street Zen upgraded it from a "hold" to a "buy" rating.
• Blackbaud's recent earnings report showed an EPS of $1.21, exceeding estimates, but revenue declined by 2.1% year-over-year.

Vanguard Group Inc. lessened its position in Blackbaud, Inc. (NASDAQ:BLKB - Free Report) by 3.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,572,899 shares of the technology company's stock after selling 217,704 shares during the quarter. Vanguard Group Inc. owned 11.49% of Blackbaud worth $345,798,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Avantax Advisory Services Inc. lifted its holdings in Blackbaud by 1.8% during the 1st quarter. Avantax Advisory Services Inc. now owns 11,816 shares of the technology company's stock valued at $733,000 after buying an additional 210 shares in the last quarter. UMB Bank n.a. lifted its holdings in 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 buying an additional 268 shares in the last quarter. Procyon Advisors LLC lifted its holdings in Blackbaud by 8.0% during the 1st quarter. Procyon Advisors LLC now owns 3,722 shares of the technology company's stock valued at $231,000 after buying an additional 275 shares in the last quarter. Versant Capital Management Inc lifted its holdings in 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 buying an additional 293 shares in the last quarter. Finally, EP Wealth Advisors LLC lifted its holdings in Blackbaud by 10.7% during the 4th quarter. EP Wealth Advisors LLC now owns 3,843 shares of the technology company's stock valued at $284,000 after buying an additional 372 shares in the last quarter. Institutional investors own 94.21% of the company's stock.

Analyst Ratings Changes

BLKB has been the subject of a number of research analyst reports. Wall Street Zen upgraded shares of Blackbaud from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. Stifel Nicolaus reduced their price target on shares of Blackbaud from $75.00 to $65.00 and set a "hold" rating for the company in a report on Thursday, May 1st. One research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, Blackbaud presently has a consensus rating of "Hold" and an average target price of $78.67.

Insider Activity at Blackbaud

In other Blackbaud news, Director Rupal S. Hollenbeck sold 2,500 shares of the business's 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 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 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 business's stock in a transaction that occurred on Wednesday, July 30th. The stock was 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 in the company, valued at approximately $8,077,706.52. This represents a 6.71% decrease in their position. The disclosure for this sale can be found here. 1.97% of the stock is currently owned by insiders.

Blackbaud Stock Down 0.3%

Shares of Blackbaud stock traded down $0.2050 on Thursday, reaching $64.3550. The stock had a trading volume of 7,860 shares, compared to its average volume of 300,704. The company has a 50 day moving average price of $64.07 and a 200 day moving average price of $64.77. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 12.92. Blackbaud, Inc. has a 1 year low of $58.05 and a 1 year high of $88.95. The stock has a market capitalization of $3.12 billion, a P/E ratio of -11.13, a P/E/G ratio of 4.50 and a beta of 1.13.

Blackbaud (NASDAQ:BLKB - Get Free Report) last released its earnings results on Wednesday, July 30th. The technology company reported $1.21 earnings per share for the quarter, topping the consensus estimate of $1.05 by $0.16. The company had revenue of $281.38 million for the quarter, compared to the consensus estimate of $276.48 million. Blackbaud had a negative net margin of 24.82% and a positive return on equity of 61.72%. Blackbaud's revenue was down 2.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.08 EPS. Blackbaud has set its FY 2025 guidance at 4.300-4.500 EPS. As a group, equities research analysts forecast that Blackbaud, Inc. will post 3.05 EPS for the current year.

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.