Clearline Capital LP Makes New $19.05 Million Investment in Blackbaud, Inc. $BLKB

Clearline Capital LP purchased a new position in Blackbaud, Inc. (NASDAQ:BLKB) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 307,036 shares of the technology company’s stock, valued at approximately $19,052,000. Blackbaud makes up 1.1% of Clearline Capital LP’s portfolio, making the stock its 15th biggest holding. Clearline Capital LP owned about 0.63% of Blackbaud as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Avantax Advisory Services Inc. boosted its position in shares of Blackbaud by 1.8% in the 1st quarter. Avantax Advisory Services Inc. now owns 11,816 shares of the technology company’s stock valued at $733,000 after purchasing an additional 210 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of Blackbaud by 11.2% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,300 shares of the technology company’s stock valued at $143,000 after purchasing an additional 231 shares during the period. UMB Bank n.a. boosted its position in shares of Blackbaud by 63.2% in the 1st quarter. UMB Bank n.a. now owns 692 shares of the technology company’s stock valued at $43,000 after purchasing an additional 268 shares during the period. Procyon Advisors LLC boosted its position in shares of Blackbaud by 8.0% in the 1st quarter. Procyon Advisors LLC now owns 3,722 shares of the technology company’s stock valued at $231,000 after purchasing an additional 275 shares during the period. Finally, Versant Capital Management Inc boosted its position in shares of 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 purchasing an additional 293 shares during the period. 94.21% of the stock is currently owned by institutional investors.

Blackbaud Price Performance

BLKB opened at $66.60 on Monday. The stock has a market cap of $3.23 billion, a price-to-earnings ratio of -11.52, a PEG ratio of 4.65 and a beta of 1.15. Blackbaud, Inc. has a 1 year low of $58.05 and a 1 year high of $88.95. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 12.92. The stock has a fifty day moving average price of $64.98 and a 200 day moving average price of $63.70.

Blackbaud (NASDAQ:BLKB) last released its quarterly earnings data on Wednesday, July 30th. The technology company reported $1.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.05 by $0.16. The firm had revenue of $281.38 million during the quarter, compared to analysts’ expectations of $276.48 million. Blackbaud had a positive return on equity of 61.72% and a negative net margin of 24.82%.The business’s revenue for the quarter was down 2.1% on a year-over-year basis. During the same quarter last year, the firm earned $1.08 earnings per share. Blackbaud has set its FY 2025 guidance at 4.300-4.500 EPS. Analysts forecast that Blackbaud, Inc. will post 3.05 EPS for the current fiscal year.

Insider Buying and Selling at Blackbaud

In other Blackbaud news, Director Rupal S. Hollenbeck sold 2,500 shares of the stock in a transaction 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 transaction, the director directly owned 7,966 shares of the company’s stock, valued at $509,664.68. This represents a 23.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Kevin P. Gregoire sold 8,000 shares of the stock in a transaction 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 transaction, the executive vice president directly owned 111,156 shares in the company, valued at $8,077,706.52. The trade was a 6.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.97% of the company’s stock.

Analysts Set New Price Targets

Separately, Wall Street Zen raised Blackbaud from a “hold” rating to a “buy” rating in a research report on Saturday, August 2nd. One research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, Blackbaud currently has an average rating of “Hold” and a consensus price target of $78.67.

Blackbaud Company 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.