14,661 Shares in Blackbaud, Inc. $BLKB Acquired by Picton Mahoney Asset Management

Picton Mahoney Asset Management purchased a new stake in shares of Blackbaud, Inc. (NASDAQ:BLKB) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 14,661 shares of the technology company’s stock, valued at approximately $944,000.

A number of other hedge funds have also recently made changes to their positions in the business. Vanguard Group Inc. raised its position in Blackbaud by 14.7% in the 3rd quarter. Vanguard Group Inc. now owns 5,516,432 shares of the technology company’s stock worth $354,762,000 after purchasing an additional 706,695 shares during the period. SG Capital Management LLC boosted its position in Blackbaud by 777.3% during the third quarter. SG Capital Management LLC now owns 598,547 shares of the technology company’s stock valued at $38,493,000 after buying an additional 530,320 shares during the period. Norges Bank purchased a new stake in Blackbaud during the second quarter valued at about $31,503,000. Tributary Capital Management LLC grew its stake in shares of Blackbaud by 89.7% during the third quarter. Tributary Capital Management LLC now owns 503,742 shares of the technology company’s stock valued at $32,396,000 after buying an additional 238,251 shares during the last quarter. Finally, Intrinsic Edge Capital Management LLC bought a new position in shares of Blackbaud during the second quarter valued at about $13,575,000. 94.21% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

BLKB has been the subject of a number of recent research reports. Raymond James Financial set a $60.00 target price on Blackbaud in a research note on Tuesday, February 10th. Evercore set a $55.00 price target on Blackbaud in a research report on Wednesday, February 11th. Zacks Research raised Blackbaud from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 13th. Wall Street Zen upgraded Blackbaud from a “hold” rating to a “buy” rating in a research report on Sunday, November 9th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Blackbaud in a research note on Wednesday, January 21st. One research analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $56.25.

Blackbaud Stock Down 2.3%

Shares of Blackbaud stock opened at $48.16 on Friday. Blackbaud, Inc. has a 12-month low of $45.71 and a 12-month high of $74.88. The company has a market cap of $2.21 billion, a P/E ratio of 20.24, a PEG ratio of 1.70 and a beta of 1.11. The company’s fifty day simple moving average is $53.62 and its two-hundred day simple moving average is $59.94. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 12.78.

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

Insider Transactions at Blackbaud

In other news, EVP Kevin Mcdearis sold 15,462 shares of the firm’s stock in a transaction that occurred on Monday, February 23rd. The stock was sold at an average price of $46.43, for a total value of $717,900.66. Following the completion of the transaction, the executive vice president owned 91,756 shares in the company, valued at $4,260,231.08. This trade represents a 14.42% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Kevin P. Gregoire sold 2,000 shares of the company’s stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $50.02, for a total transaction of $100,040.00. Following the completion of the sale, the executive vice president 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 SEC filing for this sale provides additional information. In the last quarter, insiders sold 39,801 shares of company stock valued at $1,893,874. Corporate insiders own 1.97% of the company’s stock.

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.