The Manufacturers Life Insurance Company Purchases New Shares in Blackbaud, Inc. $BLKB

The Manufacturers Life Insurance Company purchased a new position in Blackbaud, Inc. (NASDAQ:BLKB) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 17,705 shares of the technology company’s stock, valued at approximately $524,000.

A number of other institutional investors have also added to or reduced their stakes in BLKB. Rothschild Investment LLC boosted its holdings in shares of Blackbaud by 589.0% during the 4th quarter. Rothschild Investment LLC now owns 565 shares of the technology company’s stock valued at $36,000 after buying an additional 483 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in shares of Blackbaud by 380.5% in the 4th quarter. EverSource Wealth Advisors LLC now owns 615 shares of the technology company’s stock worth $39,000 after buying an additional 487 shares during the period. TD Private Client Wealth LLC increased its stake in shares of Blackbaud by 4,300.0% in the 4th quarter. TD Private Client Wealth LLC now owns 616 shares of the technology company’s stock worth $39,000 after acquiring an additional 602 shares in the last quarter. Quarry LP bought a new position in shares of Blackbaud in the 3rd quarter worth about $46,000. Finally, Kestra Advisory Services LLC purchased a new position in Blackbaud during the 4th quarter valued at about $47,000. Institutional investors own 94.21% of the company’s stock.

Insider Activity

In other Blackbaud news, EVP Kevin Gregoire sold 22,000 shares of the stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $45.50, for a total transaction 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 SEC, which is accessible through this hyperlink. Also, EVP David Benjamin sold 2,086 shares of Blackbaud stock in a transaction on Monday, August 31st. The stock was sold at an average price of $48.27, for a total value of $100,691.22. Following the completion of the sale, the executive vice president directly owned 71,038 shares of the company’s stock, valued at approximately $3,429,004.26. The trade was a 2.85% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 43,086 shares of company stock worth $2,001,761 over the last three months. 2.01% of the stock is currently owned by insiders.

Analyst Ratings Changes

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

Blackbaud Stock Performance

Shares of Blackbaud stock opened at $47.10 on Monday. The stock has a market cap of $2.14 billion, a price-to-earnings ratio of 14.72, a PEG ratio of 1.61 and a beta of 0.99. The firm’s 50-day moving average is $39.41 and its 200 day moving average is $37.85. Blackbaud, Inc. has a 1 year low of $25.58 and a 1 year high of $70.71. The company has a debt-to-equity ratio of 16.82, a current ratio of 0.83 and a quick ratio of 0.83.

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

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.