Blackbaud, Inc. (NASDAQ:BLKB) Shares Bought by Lazard Asset Management LLC

Market Beat
2025.05.22 08:15

Lazard Asset Management LLC increased its stake in Blackbaud, Inc. (NASDAQ:BLKB) by 40.7% in Q4, owning 16,379 shares valued at $1.21 million. Other hedge funds also adjusted their positions. Analysts have mixed ratings on BLKB, with an average target price of $78.67. Blackbaud reported a Q1 EPS of $0.96, exceeding estimates, but revenue declined 3.1% year-over-year. The stock opened at $63.85, with a market cap of $3.10 billion and a P/E ratio of -10.82. Blackbaud specializes in cloud software solutions for nonprofits and educational institutions.

Lazard Asset Management LLC lifted its position in Blackbaud, Inc. (NASDAQ:BLKB - Free Report) by 40.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,379 shares of the technology company's stock after acquiring an additional 4,742 shares during the quarter. Lazard Asset Management LLC's holdings in Blackbaud were worth $1,210,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Vestcor Inc acquired a new position in Blackbaud during the 4th quarter valued at approximately $75,000. KBC Group NV boosted its position in Blackbaud by 33.9% during the 4th quarter. KBC Group NV now owns 1,676 shares of the technology company's stock valued at $124,000 after purchasing an additional 424 shares during the period. Huntington National Bank boosted its position in Blackbaud by 13.9% during the 4th quarter. Huntington National Bank now owns 1,864 shares of the technology company's stock valued at $138,000 after purchasing an additional 227 shares during the period. Blue Trust Inc. boosted its position in Blackbaud by 20.9% during the 4th quarter. Blue Trust Inc. now owns 1,930 shares of the technology company's stock valued at $143,000 after purchasing an additional 333 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in Blackbaud by 31.8% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,069 shares of the technology company's stock valued at $154,000 after purchasing an additional 499 shares during the period. Institutional investors and hedge funds own 94.21% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on BLKB shares. Robert W. Baird reduced their price objective on Blackbaud from $80.00 to $76.00 and set a "neutral" rating for the company in a research report on Wednesday, February 19th. Stifel Nicolaus reduced their price objective on Blackbaud from $75.00 to $65.00 and set a "hold" rating for the company in a research report on Thursday, May 1st. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, Blackbaud presently has an average rating of "Hold" and an average target price of $78.67.

Get Our Latest Analysis on BLKB

Insider Activity

In other news, SVP Jon W. Olson sold 10,698 shares of the firm's stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $61.15, for a total transaction of $654,182.70. Following the transaction, the senior vice president now directly owns 23,799 shares of the company's stock, valued at approximately $1,455,308.85. This trade represents a 31.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.95% of the company's stock.

Blackbaud Price Performance

Shares of BLKB opened at $63.85 on Tuesday. The firm has a market capitalization of $3.10 billion, a price-to-earnings ratio of -10.82 and a beta of 1.16. The company has a debt-to-equity ratio of 7.40, a quick ratio of 0.68 and a current ratio of 0.78. Blackbaud, Inc. has a one year low of $58.05 and a one year high of $88.95. The stock's fifty day moving average is $62.52 and its 200-day moving average is $71.85.

Blackbaud (NASDAQ:BLKB - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The technology company reported $0.96 EPS for the quarter, beating analysts' consensus estimates of $0.90 by $0.06. The company had revenue of $270.66 million for the quarter, compared to analyst estimates of $268.53 million. Blackbaud had a positive return on equity of 26.30% and a negative net margin of 24.83%. The company's quarterly revenue was down 3.1% compared to the same quarter last year. During the same period last year, the company earned $0.93 earnings per share. Equities analysts anticipate that Blackbaud, Inc. will post 3.05 EPS for the current year.

Blackbaud Profile

(Free Report)

Blackbaud, Inc provides cloud software solutions to nonprofits, foundations, education institutions, and healthcare organizations in the United States and internationally. The company offers fundraising and engagement solutions, such as Blackbaud Raiser's Edge NXT, Blackbaud CRM, Blackbaud eTapestry, Blackbaud Luminate Online, Blackbaud TeamRaiser, JustGiving, Blackbaud Fundraiser Performance Management, Blackbaud Guided Fundraising, and Blackbaud Altru; and financial management solutions comprising Blackbaud Financial Edge NXT, Blackbaud Tuition Management, and Blackbaud Financial Aid and Billing Management.

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