Norges Bank purchased a new stake in shares of Blackbaud, Inc. (NASDAQ:BLKB – Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 471,351 shares of the technology company’s stock, valued at approximately $29,846,000. Norges Bank owned 0.99% of Blackbaud as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Rothschild Investment LLC increased its stake in Blackbaud by 589.0% during the fourth quarter. Rothschild Investment LLC now owns 565 shares of the technology company’s stock valued at $36,000 after acquiring an additional 483 shares during the period. EverSource Wealth Advisors LLC increased its stake in Blackbaud by 380.5% during the fourth quarter. EverSource Wealth Advisors LLC now owns 615 shares of the technology company’s stock valued at $39,000 after acquiring an additional 487 shares during the period. TD Private Client Wealth LLC increased its stake in Blackbaud by 4,300.0% during the fourth quarter. TD Private Client Wealth LLC now owns 616 shares of the technology company’s stock valued at $39,000 after acquiring an additional 602 shares during the period. Quarry LP bought a new position in Blackbaud during the third quarter valued at about $46,000. Finally, iSAM Funds UK Ltd bought a new position in Blackbaud during the third quarter valued at about $67,000. 94.21% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
Several brokerages recently issued reports on BLKB. Evercore set a $55.00 price target on Blackbaud in a research note on Wednesday, February 11th. Zacks Research lowered Blackbaud from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 13th. Stifel Nicolaus lowered their price target on Blackbaud from $50.00 to $45.00 and set a “hold” rating on the stock in a research note on Tuesday, April 28th. Robert W. Baird upgraded Blackbaud from a “neutral” rating to an “outperform” rating and lowered their price objective for the company from $60.00 to $50.00 in a research note on Thursday, April 30th. Finally, Raymond James Financial set a $60.00 price objective on Blackbaud in a research note on Tuesday, February 10th. One equities research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Blackbaud has an average rating of “Hold” and a consensus price target of $52.50.
Blackbaud Trading Up 0.7%
BLKB stock opened at $27.86 on Wednesday. Blackbaud, Inc. has a 1-year low of $26.66 and a 1-year high of $74.88. The firm has a market cap of $1.28 billion, a P/E ratio of 9.44, a P/E/G ratio of 0.98 and a beta of 1.02. The business’s 50 day moving average is $34.39 and its 200-day moving average is $47.12. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 33.66.
Blackbaud (NASDAQ:BLKB – Get Free Report) last released its quarterly earnings data on Wednesday, April 29th. The technology company reported $1.14 earnings per share for the quarter, beating the consensus estimate of $1.08 by $0.06. The company had revenue of $281.14 million for the quarter, compared to analyst estimates of $279.81 million. Blackbaud had a return on equity of 176.76% and a net margin of 12.41%.The company’s revenue was up 4.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.96 EPS. Blackbaud has set its FY 2026 guidance at 5.150-5.250 EPS. Equities analysts anticipate that Blackbaud, Inc. will post 3.57 earnings per share for the current fiscal year.
Insider Activity at Blackbaud
In other news, CFO Chad Anderson sold 6,205 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $31.31, for a total value of $194,278.55. Following the transaction, the chief financial officer directly owned 62,869 shares of the company’s stock, valued at $1,968,428.39. The trade was a 8.98% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.97% of the stock is owned by insiders.
Blackbaud Profile
Blackbaud, Inc is a leading provider of cloud software, services and data intelligence solutions designed specifically for the social good community. The company’s main offerings include fundraising and relationship management platforms, financial management systems, grant and award management tools, and advanced analytics. Its flagship products—such as Raiser’s Edge NXT, Blackbaud Financial Edge NXT and Blackbaud NetCommunity—help nonprofit organizations, educational institutions, healthcare providers and foundations streamline donor engagement, optimize financial operations and measure program impact.
Founded in 1981 and headquartered in Charleston, South Carolina, Blackbaud has grown from a small technology startup into a global specialist in nonprofit software.
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