Blackbaud (NASDAQ:BLKB) Shares Down 5.8% – Here’s Why

Shares of Blackbaud, Inc. (NASDAQ:BLKB) fell 5.8% on Tuesday . The stock traded as low as $40.88 and last traded at $40.9950. 90,515 shares were traded during mid-day trading, a decline of 81% from the average session volume of 489,180 shares. The stock had previously closed at $43.52.

Wall Street Analysts Forecast Growth

BLKB has been the topic of a number of research reports. Robert W. Baird set a $60.00 price target on shares of Blackbaud in a report on Wednesday, February 11th. Evercore set a $55.00 price objective on shares of Blackbaud in a report on Wednesday, February 11th. Stifel Nicolaus set a $50.00 price objective on Blackbaud in a research report on Tuesday, February 10th. Raymond James Financial set a $60.00 target price on Blackbaud in a research report on Tuesday, February 10th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Blackbaud in a research note on Wednesday, January 21st. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Blackbaud currently has an average rating of “Hold” and an average price target of $56.25.

Blackbaud Trading Down 6.4%

The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 12.78. The firm has a market cap of $1.87 billion, a P/E ratio of 17.06, a P/E/G ratio of 1.52 and a beta of 1.11. The company’s 50 day simple moving average is $49.76 and its 200-day simple moving average is $58.20.

Blackbaud (NASDAQ:BLKB) last announced its quarterly earnings data on Tuesday, February 10th. The technology company reported $1.19 EPS for the quarter, beating the consensus estimate of $1.15 by $0.04. The company had revenue of $295.26 million for the quarter, compared to the consensus estimate of $292.71 million. Blackbaud had a return on equity of 175.57% and a net margin of 10.19%.Blackbaud’s quarterly revenue was down 2.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.08 EPS. Blackbaud has set its FY 2026 guidance at 5.150-5.250 EPS. As a group, research analysts predict that Blackbaud, Inc. will post 3.05 earnings per share for the current fiscal year.

Insider Activity at Blackbaud

In other news, EVP Kevin Mcdearis sold 15,462 shares of the company’s stock in a transaction dated Monday, February 23rd. The shares were sold at an average price of $46.43, for a total transaction of $717,900.66. Following the transaction, the executive vice president owned 91,756 shares in the company, valued at $4,260,231.08. This represents a 14.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Kevin P. Gregoire sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $50.02, for a total transaction of $100,040.00. Following the transaction, the executive vice president owned 135,194 shares in the company, valued at $6,762,403.88. The trade was a 1.46% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 39,801 shares of company stock valued at $1,893,874 over the last quarter. 1.97% of the stock is owned by corporate insiders.

Institutional Trading of Blackbaud

Several large investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in shares of Blackbaud by 14.7% during the third quarter. Vanguard Group Inc. now owns 5,516,432 shares of the technology company’s stock worth $354,762,000 after purchasing an additional 706,695 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in Blackbaud by 143,409.7% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,207,179 shares of the technology company’s stock valued at $139,759,000 after purchasing an additional 2,205,641 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Blackbaud by 0.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 975,085 shares of the technology company’s stock valued at $61,743,000 after purchasing an additional 5,709 shares during the last quarter. Greenhouse Funds LLLP grew its position in Blackbaud by 13.7% during the 3rd quarter. Greenhouse Funds LLLP now owns 802,904 shares of the technology company’s stock worth $51,635,000 after purchasing an additional 96,457 shares during the period. Finally, Van Berkom & Associates Inc. grew its position in Blackbaud by 16.7% during the 4th quarter. Van Berkom & Associates Inc. now owns 779,935 shares of the technology company’s stock worth $49,385,000 after purchasing an additional 111,388 shares during the period. 94.21% of the stock is owned by hedge funds and other institutional investors.

About Blackbaud

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.