Blackbaud (NASDAQ:BLKB) Posts Quarterly Earnings Results, Beats Expectations By $0.09 EPS

Blackbaud (NASDAQ:BLKBGet Free Report) announced its quarterly earnings data on Monday. The technology company reported $1.14 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.09, MarketWatch Earnings reports. The company had revenue of $295.01 million during the quarter, compared to the consensus estimate of $299.04 million. Blackbaud had a negative net margin of 2.29% and a positive return on equity of 12.01%. Blackbaud’s quarterly revenue was up 7.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.28 EPS. Blackbaud updated its FY24 guidance to $4.12-4.38 EPS.

Blackbaud Price Performance

Shares of NASDAQ:BLKB traded up $0.60 on Monday, reaching $82.65. 317,912 shares of the company were exchanged, compared to its average volume of 176,579. Blackbaud has a 1-year low of $53.39 and a 1-year high of $88.56. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.90. The firm has a market cap of $4.45 billion, a price-to-earnings ratio of -172.19, a price-to-earnings-growth ratio of 1.34 and a beta of 1.09. The company has a 50-day moving average of $83.85 and a 200-day moving average of $76.43.

Insider Activity

In other Blackbaud news, Director Sarah E. Nash sold 4,113 shares of the company’s stock in a transaction on Monday, November 27th. The stock was sold at an average price of $75.72, for a total value of $311,436.36. Following the sale, the director now owns 26,977 shares of the company’s stock, valued at $2,042,698.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.89% of the company’s stock.

Institutional Trading of Blackbaud

Institutional investors and hedge funds have recently made changes to their positions in the stock. Morgan Stanley boosted its stake in shares of Blackbaud by 865.3% during the 4th quarter. Morgan Stanley now owns 3,970,062 shares of the technology company’s stock valued at $233,678,000 after buying an additional 3,558,788 shares during the last quarter. First Trust Advisors LP boosted its position in shares of Blackbaud by 2,238.8% during the first quarter. First Trust Advisors LP now owns 534,740 shares of the technology company’s stock worth $32,015,000 after buying an additional 511,876 shares during the period. Vanguard Group Inc. lifted its holdings in Blackbaud by 7.4% in the first quarter. Vanguard Group Inc. now owns 4,916,663 shares of the technology company’s stock worth $294,361,000 after purchasing an additional 339,922 shares during the period. Norges Bank bought a new position in Blackbaud in the 4th quarter valued at about $15,731,000. Finally, BlackRock Inc. increased its stake in Blackbaud by 3.6% during the 1st quarter. BlackRock Inc. now owns 5,320,025 shares of the technology company’s stock valued at $318,510,000 after buying an additional 186,768 shares during the period. 93.06% of the stock is currently owned by hedge funds and other institutional investors.

Blackbaud Company Profile

(Get Free Report)

Blackbaud, Inc provides cloud software solutions to higher education institutions, K12 schools, healthcare organizations, faith communities, arts and cultural organizations, foundations, companies, and individual change agents 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 Management.

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Earnings History for Blackbaud (NASDAQ:BLKB)

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