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Blackbaud, Inc. - BLKB STOCK NEWS

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Blackbaud, Inc. (NASDAQ: BLKB) is a pioneering leader in providing cloud software designed to power social good. This innovative company serves a diverse range of sectors, including nonprofits, foundations, corporations, educational institutions, healthcare organizations, and individual change agents. Founded in 1981 and headquartered in Charleston, South Carolina, Blackbaud has a global footprint with operations in the United States, Australia, Canada, and the United Kingdom.

Blackbaud's comprehensive portfolio includes solutions for fundraising and CRM, marketing, advocacy, peer-to-peer fundraising, corporate social responsibility, school management, ticketing, grantmaking, financial management, payment processing, and analytics. These tools are designed to enhance the impact and efficiency of organizations dedicated to social good. With over 40,000 customers spread across more than 100 countries, the company facilitates the donation of over $100 billion annually.

Recently, Blackbaud has achieved notable milestones. It continues its strategic partnership with the Association of Fundraising Professionals (AFP), sponsoring the AFP ICON conference and launching new AI capabilities for Blackbaud Raiser's Edge NXT®. Other recent news includes an unsolicited acquisition proposal from Clearlake Capital Group and the release of its first-quarter 2024 financial results, showcasing growth in revenue and profitability.

Blackbaud is also investing in technological advancements and partnerships. It recently invested $5 million in UBIQ Education to enhance digital experience ecosystems for K-12 schools. Moreover, Blackbaud's subsidiary, EVERFI, received certification for its Prescription Drug Safety program under the Every Student Succeeds Act (ESSA).

As a testament to its commitment to social impact, Blackbaud's 2023 Impact Report highlights significant progress in its environmental, social, and governance priorities. The company has been recognized on Newsweek's list of America's Most Responsible Companies, Quartz's list of Best Companies for Remote Workers, and Forbes' list of America's Best Employers. Learn more about Blackbaud's solutions and impact at www.blackbaud.com.

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Blackbaud (NASDAQ: BLKB), a leading software provider for social impact, has announced a significant expansion of its stock repurchase program. The board of directors has increased the total capacity from $500 million to $800 million for repurchasing the company's common stock. CEO Mike Gianoni emphasized that repurchasing shares at the current valuation is the best use of capital to enhance shareholder value.

In the first half of 2024, Blackbaud repurchased 2,954,211 shares for $262.6 million, representing about 5.5% of outstanding common stock as of December 31, 2023. The company's strong profitability, improving cash flows, and available debt capacity support this expanded repurchase strategy, which is expected to continue for the foreseeable future.

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Blackbaud (NASDAQ: BLKB) has introduced new features to its Blackbaud Grantmaking software, aimed at streamlining the grant application process for both funders and applicants. The updates include:

1. A new applicant-centric portal allowing users to manage applications across multiple funders using Blackbaud ID.

2. An AI-powered form builder with conditional logic and translation capabilities for over 25 languages.

These enhancements are designed to improve accessibility, reduce administrative burdens, and facilitate better communication between funders and applicants. The new features are now available to existing Blackbaud Grantmaking customers as part of their subscription.

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Blackbaud (NASDAQ: BLKB), the leading provider of software for powering social impact, has announced that it will release its second quarter 2024 financial results on Tuesday, July 30, after the U.S. financial markets close. The company will host a conference call to discuss these results on Wednesday, July 31, at 8:00 a.m. ET.

Investors and interested parties can access the live webcast of the conference call through Blackbaud's investor webpage. Additionally, a live dial-in option is available at 1-877-407-3088. The webcast will be archived on the company's investor webpage for future reference.

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Blackbaud (NASDAQ: BLKB) has announced that Dale Strange will take over as head of its Corporate Impact business, joining the executive leadership team and reporting to CEO Mike Gianoni. Strange, a 10-year veteran at Blackbaud, has led both Social Impact and Corporate Impact businesses and played key roles in several acquisitions. He replaces Tom Davidson, founder of EVERFI, who will transition to a strategic advisor role.

This move is part of Blackbaud's strategy to grow its Corporate Impact business and empower companies to make a positive social impact. Strange's experience in driving growth and innovation is expected to take the Corporate Impact business to new heights, delivering more value to customers and stakeholders.

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Blackbaud (NASDAQ: BLKB), a leading software provider for social impact, has been recognized on TIME's inaugural list of America's Best Mid-Sized Companies 2024. This prestigious award, presented by TIME and Statista Inc., is based on employee satisfaction, revenue growth, and sustainability transparency.

Maggie Driscoll, Blackbaud's chief people and culture officer, emphasized the company's commitment to fueling impact for customers, employees, and communities. The recognition highlights Blackbaud's remote-first workforce approach, which supports employee wellbeing, drives customer outcomes, and reduces environmental impact.

To qualify for the list, companies must operate in the United States and have generated between $100 million and $10 billion in revenue in 2022 or 2023. Blackbaud's inclusion underscores its strong performance across these criteria.

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Blackbaud (NASDAQ: BLKB) announced that Emmy Award-winning actress and advocate Sheryl Lee Ralph will be a keynote speaker at bbcon 2024, taking place from September 24-26 in Seattle, Washington. Ralph, known for her roles in 'Abbott Elementary' and 'Dreamgirls,' will share insights on career, confidence, and advocacy.

Blackbaud's annual tech conference, bbcon, aims to bring together its community to share knowledge and innovation in social impact. The event will feature over 150 sessions and workshops for attendees to develop their skills and network within the Blackbaud ecosystem. For more information and to register, visit bbconference.com.

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Blackbaud (NASDAQ: BLKB) has commenced its annual developers' conference, bbdevdays, focusing on innovation and achievements in social impact technology. This virtual event features over 12,000 developers exploring ways to automate and enhance Blackbaud's solutions. Notable updates include new AI capabilities, improved security options with total database encryption, and enhancements to Raiser's Edge NXT and SKY APIs. The conference will include sessions on leveraging AI, cybersecurity, building customizations, and extending solutions using Blackbaud's APIs. Blackbaud will also recognize outstanding developers and support early-stage software companies through awards and grants.

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Principal Foundation and EVERFI from Blackbaud have announced the successful expansion of their DataSetGo program, a digital curriculum designed to introduce high school students to data science. Since its launch in 2022, the program has reached over 26,000 students across 400 schools in the U.S. In the 2023-2024 academic year alone, it reached 17,000 new students in 200 additional schools. DataSetGo aims to prepare students for careers in data science, a field expected to create up to 1.4 million new jobs by 2027, according to the World Economic Forum. The program has a special emphasis on schools in low- to moderate-income communities and aligns with national educational standards. This year, $50,000 in awards were given to ten Distinguished Scholars to further support their education and career aspirations.

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Blackbaud, a leading provider of software for social impact, has announced the appointment of Chad Anderson as Chief Accounting Officer and Sudip Datta as Chief Product Officer to its executive leadership team. CEO Mike Gianoni expressed confidence in their ability to drive greater impact for customers, employees, shareholders, and communities. Anderson, with Blackbaud since 2013, has significantly improved the company’s financial systems. Datta, who joined in 2022, has overseen the global product portfolio, contributing to growth and innovation. Anderson will report to CFO Tony Boor, while Datta will report to CTO Kevin McDearis.

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Blackbaud (NASDAQ: BLKB) has been ranked fourth on USA Today's America's Climate Leaders 2024 list, recognizing U.S. companies for their emissions reduction efforts. The company achieved a 70.30% core emissions reduction year-over-year and a core GHG reduction of 89.80%, aligning with its commitment to sustainability and a remote-first workforce. Blackbaud's achievements were part of a study by Statista, which reviewed over 2,000 companies with revenues of at least $50 million in 2022. The ranking underscores Blackbaud's significant strides in reducing greenhouse gas emissions and achieving 100% carbon neutrality in 2023.

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FAQ

What does Blackbaud, Inc. do?

Blackbaud provides cloud software solutions to power social good, including tools for fundraising, financial management, digital giving, grantmaking, and more.

Where is Blackbaud headquartered?

Blackbaud is headquartered in Charleston, South Carolina.

What are some recent achievements of Blackbaud?

Recent achievements include a strategic partnership with AFP, an acquisition proposal from Clearlake Capital Group, and the release of Q1 2024 financial results showing growth in revenue and profitability.

What markets does Blackbaud serve?

Blackbaud serves nonprofits, foundations, corporations, educational institutions, healthcare organizations, and individual change agents.

How does Blackbaud support K-12 education?

Blackbaud supports K-12 education through investments like its $5 million in UBIQ Education and solutions like the Blackbaud School Website System and UBIQ’s AMAIS platform.

What was the recent proposal from Clearlake Capital Group about?

Clearlake Capital Group proposed to acquire all outstanding shares of Blackbaud for $80.00 per share in cash.

How much in donations does Blackbaud enable annually?

Blackbaud enables more than $100 billion in donations annually.

What recognition has Blackbaud received?

Blackbaud has been recognized on Newsweek's list of America's Most Responsible Companies, Quartz's list of Best Companies for Remote Workers, and Forbes' list of America's Best Employers.

What is Blackbaud's commitment to social impact?

Blackbaud is committed to fueling impact and unleashing generosity through its software, environmental, social, and governance priorities, as highlighted in its 2023 Impact Report.

Where can I learn more about Blackbaud?

You can learn more about Blackbaud on their website at www.blackbaud.com.

Blackbaud, Inc.

Nasdaq:BLKB

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3.99B
51.63M
2.15%
98.3%
1.56%
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