The Manufacturers Life Insurance Company Invests $524,000 in Blackbaud, Inc. $BLKB

The Manufacturers Life Insurance Company acquired a new stake in shares of Blackbaud, Inc. (NASDAQ:BLKB) in the 2nd quarter, Holdings Channel.com reports. The institutional investor acquired 17,705 shares of the technology company’s stock, valued at approximately $524,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Altshuler Shaham Ltd bought a new stake in Blackbaud in the 1st quarter worth approximately $29,000. Parallel Advisors LLC raised its stake in Blackbaud by 528.0% during the 1st quarter. Parallel Advisors LLC now owns 785 shares of the technology company’s stock valued at $30,000 after buying an additional 660 shares during the last quarter. Blue Trust Inc. lifted its holdings in shares of Blackbaud by 44.3% during the 1st quarter. Blue Trust Inc. now owns 867 shares of the technology company’s stock valued at $33,000 after buying an additional 266 shares during the period. Rothschild Investment LLC lifted 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 during the period. Finally, Versant Capital Management Inc boosted its stake in shares of Blackbaud by 243.9% in the 2nd quarter. Versant Capital Management Inc now owns 1,286 shares of the technology company’s stock worth $38,000 after buying an additional 912 shares during the last quarter. Institutional investors own 94.21% of the company’s stock.

Insider Buying and Selling

In other Blackbaud news, CEO Michael Gianoni sold 17,000 shares of the business’s stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $47.35, for a total transaction of $804,950.00. Following the completion of the sale, the chief executive officer owned 423,264 shares of the company’s stock, valued at approximately $20,041,550.40. The trade was a 3.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Chad Anderson sold 2,000 shares of the company’s stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $47.56, for a total value of $95,120.00. Following the completion of the sale, the chief financial officer owned 59,883 shares of the company’s stock, valued at approximately $2,848,035.48. The trade was a 3.23% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 43,086 shares of company stock valued at $2,001,761 over the last three months. 2.01% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

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

Blackbaud Stock Performance

Shares of Blackbaud stock opened at $47.10 on Monday. The company’s fifty day simple moving average is $39.41 and its 200-day simple moving average is $37.85. The stock has a market capitalization of $2.14 billion, a PE ratio of 14.72, a P/E/G ratio of 1.61 and a beta of 0.99. 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 issued its quarterly earnings data on Wednesday, July 29th. The technology company reported $1.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.23 by $0.10. The firm had revenue of $290.60 million during the quarter, compared to the consensus estimate of $292.23 million. Blackbaud had a net margin of 13.12% and a return on equity of 197.49%. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.21 EPS. Blackbaud has set its FY 2026 guidance at 5.150-5.250 EPS. As a group, equities analysts anticipate that Blackbaud, Inc. will post 3.71 earnings per share 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.