Wedge Capital Management L L P NC Boosts Holdings in Blackbaud, Inc. $BLKB

Wedge Capital Management L L P NC lifted its position in shares of Blackbaud, Inc. (NASDAQ:BLKB) by 117.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 101,975 shares of the technology company’s stock after buying an additional 54,997 shares during the period. Wedge Capital Management L L P NC’s holdings in Blackbaud were worth $3,020,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in BLKB. UBS Group AG grew its position in Blackbaud by 35.0% in the fourth quarter. UBS Group AG now owns 164,128 shares of the technology company’s stock worth $10,393,000 after acquiring an additional 42,521 shares during the period. Van Berkom & Associates Inc. raised its position in Blackbaud by 16.7% in the fourth quarter. Van Berkom & Associates Inc. now owns 779,935 shares of the technology company’s stock valued at $49,385,000 after purchasing an additional 111,388 shares during the period. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Blackbaud by 143,409.7% in the 4th 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. WINTON GROUP Ltd acquired a new position in shares of Blackbaud in the 4th quarter valued at $4,533,000. Finally, Hillsdale Investment Management Inc. acquired a new position in shares of Blackbaud in the 4th quarter valued at $7,719,000. Hedge funds and other institutional investors own 94.21% of the company’s stock.

Blackbaud Trading Up 3.4%

Shares of BLKB stock opened at $46.21 on Friday. Blackbaud, Inc. has a fifty-two week low of $25.58 and a fifty-two week high of $70.71. The company has a 50 day moving average price of $33.20 and a 200 day moving average price of $38.25. The company has a debt-to-equity ratio of 16.82, a quick ratio of 0.83 and a current ratio of 0.83. The stock has a market capitalization of $2.10 billion, a P/E ratio of 14.44, a price-to-earnings-growth ratio of 1.53 and a beta of 0.97.

Blackbaud (NASDAQ:BLKB) last released its earnings results on Wednesday, July 29th. The technology company reported $1.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.23 by $0.10. The firm had revenue of $290.60 million during the quarter, compared to analyst estimates of $292.23 million. Blackbaud had a return on equity of 197.49% and a net margin of 13.12%.Blackbaud’s revenue was up 3.3% compared to the same quarter last year. During the same period last year, the business posted $1.21 earnings per share. Blackbaud has set its FY 2026 guidance at 5.150-5.250 EPS. Equities research analysts predict that Blackbaud, Inc. will post 3.71 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Kevin P. Gregoire sold 22,000 shares of the firm’s stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $45.50, for a total value of $1,001,000.00. Following the sale, the executive vice president directly owned 113,194 shares in the company, valued at approximately $5,150,327. This trade represents a 16.27% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Chad Anderson sold 6,205 shares of the firm’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $31.31, for a total value of $194,278.55. Following the completion of the sale, the chief financial officer owned 62,869 shares in the company, valued at approximately $1,968,428.39. This represents a 8.98% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.01% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on BLKB. Robert W. Baird set a $54.00 price objective on Blackbaud in a research report on Thursday, July 30th. Stifel Nicolaus decreased their target price on shares of Blackbaud from $45.00 to $30.00 and set a “hold” rating on the stock in a research report on Friday, July 10th. Weiss Ratings raised shares of Blackbaud from a “sell (d)” rating to a “sell (d+)” rating in a research note on Thursday, August 6th. Finally, Raymond James Financial reiterated an “outperform” rating and set a $55.00 price target on shares of Blackbaud in a research report on Wednesday, July 29th. Two research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $48.50.

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.