Renaissance Technologies LLC Makes New $1.35 Million Investment in Blackbaud, Inc. $BLKB

Renaissance Technologies LLC acquired a new stake in Blackbaud, Inc. (NASDAQ:BLKB) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 34,997 shares of the technology company’s stock, valued at approximately $1,351,000. Renaissance Technologies LLC owned about 0.08% of Blackbaud at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. UBS Group AG grew its position in shares of Blackbaud by 35.0% in the 4th quarter. UBS Group AG now owns 164,128 shares of the technology company’s stock valued at $10,393,000 after acquiring an additional 42,521 shares during the period. Van Berkom & Associates Inc. raised its holdings in shares of Blackbaud by 16.7% in the 4th quarter. Van Berkom & Associates Inc. now owns 779,935 shares of the technology company’s stock valued at $49,385,000 after purchasing an additional 111,388 shares during the period. Northwestern Mutual Wealth Management Co. lifted its stake in Blackbaud by 143,409.7% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,207,179 shares of the technology company’s stock valued at $139,759,000 after purchasing an additional 2,205,641 shares during the last quarter. WINTON GROUP Ltd acquired a new position in Blackbaud during the fourth quarter worth approximately $4,533,000. Finally, Hillsdale Investment Management Inc. acquired a new position in Blackbaud during the fourth quarter worth approximately $7,719,000. 94.21% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on BLKB shares. Robert W. Baird set a $54.00 price objective on Blackbaud in a research 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 report on Friday, July 10th. Raymond James Financial reaffirmed an “outperform” rating and set a $55.00 price objective on shares of Blackbaud in a research report on Wednesday, July 29th. Finally, Weiss Ratings raised shares of Blackbaud from a “sell (d)” rating to a “sell (d+)” rating in a research report on Thursday, August 6th. Two equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Blackbaud currently has an average rating of “Hold” and a consensus price target of $48.50.

Insider Activity

In related news, CFO Chad Anderson sold 6,205 shares of the firm’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $31.31, for a total transaction of $194,278.55. Following the transaction, the chief financial officer directly owned 62,869 shares of the company’s stock, valued at approximately $1,968,428.39. This trade represents a 8.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Kevin P. Gregoire sold 22,000 shares of Blackbaud stock in a transaction dated 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 completion of the sale, the executive vice president owned 113,194 shares of the company’s stock, valued at $5,150,327. This trade represents a 16.27% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 2.01% of the company’s stock.

Blackbaud Stock Performance

NASDAQ:BLKB opened at $46.21 on Friday. The stock has a market cap of $2.10 billion, a P/E ratio of 14.44, a PEG ratio of 1.53 and a beta of 0.97. The stock has a 50 day simple moving average of $33.20 and a 200 day simple moving average of $38.25. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 16.82. Blackbaud, Inc. has a 1-year low of $25.58 and a 1-year high of $70.71.

Blackbaud (NASDAQ:BLKB) last released its quarterly earnings results on Wednesday, July 29th. The technology company reported $1.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.23 by $0.10. The business had revenue of $290.60 million during the quarter, compared to the consensus estimate of $292.23 million. Blackbaud had a return on equity of 197.49% and a net margin of 13.12%.The firm’s quarterly revenue was up 3.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.21 EPS. Blackbaud has set its FY 2026 guidance at 5.150-5.250 EPS. Research 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.