Vanguard Group Inc. Sells 217,704 Shares of 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. reduced its stake in Blackbaud, Inc. (NASDAQ:BLKB - Free Report) by 3.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor 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 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Versant Capital Management Inc lifted its position in Blackbaud by 127.4% in the 1st quarter. Versant Capital Management Inc now owns 523 shares of the technology company's stock valued at $32,000 after acquiring an additional 293 shares in the last quarter. UMB Bank n.a. lifted its position in Blackbaud by 63.2% during the 1st quarter. UMB Bank n.a. now owns 692 shares of the technology company's stock worth $43,000 after buying an additional 268 shares in the last quarter. KBC Group NV lifted its position in Blackbaud by 31.8% during the 1st quarter. KBC Group NV now owns 2,209 shares of the technology company's stock worth $137,000 after buying an additional 533 shares in the last quarter. Tower Research Capital LLC TRC lifted its position in Blackbaud by 156.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,875 shares of the technology company's stock worth $213,000 after buying an additional 1,752 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in Blackbaud during the 4th quarter worth about $216,000. 94.21% of the stock is owned by institutional investors.

Blackbaud Stock Performance

Shares of NASDAQ:BLKB traded up $0.55 on Thursday, reaching $65.11. 180,042 shares of the company's stock were exchanged, compared to its average volume of 402,381. The company has a fifty day moving average of $64.15 and a 200-day moving average of $64.69. Blackbaud, Inc. has a twelve month low of $58.05 and a twelve month high of $88.95. The company has a market capitalization of $3.16 billion, a price-to-earnings ratio of -11.26, a PEG ratio of 4.51 and a beta of 1.13. 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 (NASDAQ:BLKB - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The technology company reported $1.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.16. The business had revenue of $281.38 million for the quarter, compared to analyst estimates of $276.48 million. Blackbaud had a negative net margin of 24.82% and a positive return on equity of 61.72%. The firm's revenue for the quarter was down 2.1% on a year-over-year basis. 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 predict that Blackbaud, Inc. will post 3.05 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Wall Street Zen raised shares of Blackbaud from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. 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 report on Thursday, May 1st. One equities research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, Blackbaud presently has an average rating of "Hold" and an average target price of $78.67.

Insider Activity at Blackbaud

In related news, Director Rupal S. Hollenbeck sold 2,500 shares of the 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 in the company, valued at approximately $509,664.68. This trade represents a 23.89% decrease in their position. The transaction 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 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 owned 111,156 shares in the company, valued at $8,077,706.52. This represents a 6.71% decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.97% of the company's stock.

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.