Clearline Capital LP Purchases 11,557 Shares of Blackbaud, Inc. $BLKB

Clearline Capital LP lifted its position in Blackbaud, Inc. (NASDAQ:BLKB) by 3.8% in the third quarter, HoldingsChannel.com reports. The firm owned 318,593 shares of the technology company’s stock after acquiring an additional 11,557 shares during the period. Blackbaud comprises 0.9% of Clearline Capital LP’s investment portfolio, making the stock its 17th largest holding. Clearline Capital LP’s holdings in Blackbaud were worth $20,489,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Jackson Creek Investment Advisors LLC bought a new stake in Blackbaud in the 3rd quarter valued at $1,287,000. Vanguard Group Inc. boosted its position in shares of Blackbaud by 14.7% during the 3rd quarter. Vanguard Group Inc. now owns 5,516,432 shares of the technology company’s stock valued at $354,762,000 after acquiring an additional 706,695 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Blackbaud during the third quarter worth about $2,356,000. Greenhouse Funds LLLP lifted its holdings in shares of Blackbaud by 13.7% during the third quarter. Greenhouse Funds LLLP now owns 802,904 shares of the technology company’s stock valued at $51,635,000 after acquiring an additional 96,457 shares during the period. Finally, SG Capital Management LLC acquired a new stake in shares of Blackbaud in the 2nd quarter valued at $4,381,000. 94.21% of the stock is owned by institutional investors.

Blackbaud Trading Down 1.4%

BLKB opened at $44.03 on Friday. Blackbaud, Inc. has a 1-year low of $43.30 and a 1-year high of $74.88. The stock has a market capitalization of $2.02 billion, a PE ratio of 18.50, a PEG ratio of 1.52 and a beta of 1.11. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 12.78. The firm has a 50-day moving average price of $51.87 and a two-hundred day moving average price of $59.20.

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

Insiders Place Their Bets

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

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Evercore set a $55.00 target price on shares of Blackbaud in a report on Wednesday, February 11th. Raymond James Financial set a $60.00 price target on shares of Blackbaud in a research report on Tuesday, February 10th. Zacks Research raised shares of Blackbaud from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 13th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Blackbaud in a report on Wednesday, January 21st. Finally, Robert W. Baird set a $60.00 target price on shares of Blackbaud in a research note on Wednesday, February 11th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $56.25.

Blackbaud 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.