Empowered Funds LLC Takes Position in Blackbaud, Inc. $BLKB

Empowered Funds LLC bought a new position in shares of Blackbaud, Inc. (NASDAQ:BLKB) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 73,945 shares of the technology company’s stock, valued at approximately $2,190,000.

Other large investors have also added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Blackbaud by 1.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,434 shares of the technology company’s stock valued at $1,454,000 after purchasing an additional 361 shares during the last quarter. Jones Financial Companies Lllp increased its holdings in Blackbaud by 293.1% during the 1st quarter. Jones Financial Companies Lllp now owns 7,701 shares of the technology company’s stock worth $478,000 after purchasing an additional 5,742 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Blackbaud by 26.2% in the first quarter. Goldman Sachs Group Inc. now owns 229,244 shares of the technology company’s stock worth $14,225,000 after purchasing an additional 47,549 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Blackbaud by 4.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 101,751 shares of the technology company’s stock worth $6,314,000 after purchasing an additional 4,178 shares during the last quarter. Finally, Jane Street Group LLC lifted its holdings in shares of Blackbaud by 886.2% in the first quarter. Jane Street Group LLC now owns 159,729 shares of the technology company’s stock valued at $9,911,000 after purchasing an additional 143,533 shares in the last quarter. Institutional investors own 94.21% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Chad Anderson sold 2,000 shares of the business’s stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $47.56, for a total value of $95,120.00. Following the transaction, the chief financial officer directly owned 59,883 shares of the company’s stock, valued at approximately $2,848,035.48. The trade was a 3.23% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP David J. Benjamin sold 2,086 shares of the business’s stock in a transaction dated Monday, August 31st. The stock was sold at an average price of $48.27, for a total transaction of $100,691.22. Following the completion of the transaction, the executive vice president directly owned 71,038 shares in the company, valued at $3,429,004.26. This trade represents a 2.85% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 43,086 shares of company stock valued at $2,001,761. 2.01% of the stock is currently owned by company insiders.

Analyst Ratings Changes

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

Blackbaud Stock Performance

Shares of BLKB opened at $47.47 on Thursday. The stock has a 50 day moving average of $38.62 and a 200 day moving average of $37.87. The company has a market capitalization of $2.15 billion, a price-to-earnings ratio of 14.83, a PEG ratio of 1.64 and a beta of 0.99. Blackbaud, Inc. has a 12 month low of $25.58 and a 12 month high of $70.71. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 16.82.

Blackbaud (NASDAQ:BLKB) last posted its quarterly earnings data on Wednesday, July 29th. The technology company reported $1.33 earnings per share for the quarter, topping the consensus estimate of $1.23 by $0.10. The business had revenue of $290.60 million for the quarter, compared to analysts’ expectations of $292.23 million. Blackbaud had a return on equity of 197.49% and a net margin of 13.12%.The business’s revenue was up 3.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.21 earnings per share. Blackbaud has set its FY 2026 guidance at 5.150-5.250 EPS. As a group, sell-side analysts forecast that Blackbaud, Inc. will post 3.71 earnings per share for the current year.

Blackbaud Company 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.