Pacer Advisors Inc. Grows Holdings in Blackbaud, Inc. $BLKB

Pacer Advisors Inc. increased its holdings in shares of Blackbaud, Inc. (NASDAQ:BLKB) by 2,958.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 187,557 shares of the technology company’s stock after purchasing an additional 181,424 shares during the period. Pacer Advisors Inc. owned 0.41% of Blackbaud worth $7,242,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Glenmede Investment Management LP raised its holdings in shares of Blackbaud by 2.1% in the third quarter. Glenmede Investment Management LP now owns 10,492 shares of the technology company’s stock valued at $675,000 after buying an additional 215 shares during the last quarter. AXQ Capital LP grew its holdings in shares of Blackbaud by 3.0% during the fourth quarter. AXQ Capital LP now owns 8,307 shares of the technology company’s stock worth $526,000 after buying an additional 243 shares during the last quarter. Comerica Bank grew its holdings in shares of Blackbaud by 1.0% during the fourth quarter. Comerica Bank now owns 24,847 shares of the technology company’s stock worth $1,573,000 after buying an additional 255 shares during the last quarter. Blue Trust Inc. increased its position in Blackbaud by 44.3% in the 1st quarter. Blue Trust Inc. now owns 867 shares of the technology company’s stock valued at $33,000 after acquiring an additional 266 shares during the period. Finally, Inspire Investing LLC increased its position in Blackbaud by 4.4% in the 4th quarter. Inspire Investing LLC now owns 7,382 shares of the technology company’s stock valued at $467,000 after acquiring an additional 310 shares during the period. 94.21% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on BLKB. Zacks Research cut Blackbaud from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 13th. Robert W. Baird set a $54.00 target price on Blackbaud in a report on Thursday, July 30th. Stifel Nicolaus cut their price target on Blackbaud from $45.00 to $30.00 and set a “hold” rating for the company in a research note on Friday, July 10th. Raymond James Financial reaffirmed an “outperform” rating and set a $55.00 price target on shares of Blackbaud in a report on Wednesday, July 29th. Finally, Weiss Ratings cut shares of Blackbaud from a “sell (d+)” rating to a “sell (d)” rating in a research note on Thursday, July 23rd. Two investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $48.50.

Blackbaud Trading Up 0.9%

Shares of Blackbaud stock opened at $45.89 on Thursday. 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. The stock has a market cap of $2.08 billion, a PE ratio of 14.34, a price-to-earnings-growth ratio of 1.62 and a beta of 0.97. The company has a 50-day moving average of $31.32 and a two-hundred day moving average of $38.65.

Blackbaud (NASDAQ:BLKB) last announced its quarterly earnings results on Wednesday, July 29th. The technology company reported $1.33 EPS 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 analyst estimates of $292.23 million. Blackbaud had a return on equity of 197.49% and a net margin of 13.12%.The company’s quarterly revenue was up 3.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.21 EPS. Blackbaud has set its FY 2026 guidance at 5.150-5.250 EPS. On average, research analysts anticipate that Blackbaud, Inc. will post 3.57 EPS for the current fiscal year.

Insider Transactions at Blackbaud

In other Blackbaud news, CFO Chad Anderson sold 6,205 shares of the business’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $31.31, for a total transaction of $194,278.55. Following the sale, the chief financial officer directly owned 62,869 shares in the company, valued at approximately $1,968,428.39. The trade was a 8.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 2.01% of the company’s stock.

About Blackbaud

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.