Picton Mahoney Asset Management Makes New $944,000 Investment in Blackbaud, Inc. $BLKB

Picton Mahoney Asset Management purchased a new stake in shares of Blackbaud, Inc. (NASDAQ:BLKB) during the third quarter, HoldingsChannel reports. The institutional investor purchased 14,661 shares of the technology company’s stock, valued at approximately $944,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings 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 acquiring an additional 706,695 shares during the last quarter. SG Capital Management LLC boosted its stake in Blackbaud by 777.3% during the 3rd quarter. SG Capital Management LLC now owns 598,547 shares of the technology company’s stock valued at $38,493,000 after purchasing an additional 530,320 shares during the last quarter. Norges Bank purchased a new stake in Blackbaud during the 2nd quarter valued at $31,503,000. Tributary Capital Management LLC increased its holdings in shares of Blackbaud by 89.7% in the 3rd quarter. Tributary Capital Management LLC now owns 503,742 shares of the technology company’s stock worth $32,396,000 after purchasing an additional 238,251 shares in the last quarter. Finally, Intrinsic Edge Capital Management LLC bought a new stake in shares of Blackbaud in the 2nd quarter worth $13,575,000. Institutional investors own 94.21% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Blackbaud in a report on Wednesday, January 21st. Wall Street Zen upgraded Blackbaud from a “hold” rating to a “buy” rating in a report on Sunday, November 9th. Evercore set a $55.00 target price on Blackbaud in a research report on Wednesday, February 11th. Zacks Research upgraded shares of Blackbaud from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 13th. Finally, Raymond James Financial set a $60.00 price target on shares of Blackbaud in a report on Tuesday, February 10th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Blackbaud has an average rating of “Hold” and a consensus target price of $56.25.

Insider Activity at Blackbaud

In related news, EVP Kevin P. Gregoire sold 2,000 shares of the stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $50.02, for a total value of $100,040.00. Following the completion of the sale, the executive vice president directly owned 135,194 shares of the company’s stock, valued at approximately $6,762,403.88. This represents a 1.46% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP David J. Benjamin sold 14,349 shares of the firm’s stock in a transaction that occurred on Tuesday, February 24th. The stock was sold at an average price of $47.47, for a total transaction of $681,147.03. Following the sale, the executive vice president owned 73,124 shares in the company, valued at approximately $3,471,196.28. The trade was a 16.40% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 39,801 shares of company stock worth $1,893,874. 1.97% of the stock is owned by company insiders.

Blackbaud Stock Down 2.3%

BLKB opened at $48.16 on Friday. 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, Inc. has a 1-year low of $45.71 and a 1-year high of $74.88. The company has a market capitalization of $2.21 billion, a PE ratio of 20.24, a PEG ratio of 1.70 and a beta of 1.11. The firm’s 50 day simple moving average is $53.62 and its two-hundred day simple moving average is $59.94.

Blackbaud (NASDAQ:BLKB) last issued its quarterly earnings results on Tuesday, February 10th. The technology company reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $1.15 by $0.04. Blackbaud had a return on equity of 175.57% and a net margin of 10.19%.The business had revenue of $295.26 million during the quarter, compared to analysts’ expectations of $292.71 million. During the same quarter in the prior year, the business posted $1.08 earnings per share. The business’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 forecast that Blackbaud, Inc. will post 3.05 EPS for the current 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.