Blackbaud (NASDAQ:BLKB), recognized by Newsweek as one of America's Most Responsible Companies, serves various sectors committed to social responsibility with its software. The company has facilitated the raising, granting, or managing of over $100 billion annually through its platforms and operates in multiple countries, supporting users worldwide. With expected net income growth this year and a strong return on invested capital, InvestingPro data reveals multiple growth drivers and 12 additional key insights available to subscribers, helping investors make informed decisions about this social impact leader. With expected net income growth this year and a strong return on invested capital, InvestingPro data reveals multiple growth drivers and 12 additional key insights available to subscribers, helping investors make informed decisions about this social impact leader.
Pyburn's military career, spanning from 1991 to his retirement in September 2024, involved leadership roles where he managed large teams, multi-billion-dollar budgets, and the defense of critical U.S. infrastructure. His tenure included positions such as the Chief Information Officer of Air Combat Command and Deputy Commander of U.S. Air Force Cyber. Notably, he guided U.S. Cyber Command's initial artificial intelligence strategy, integrating new capabilities into cybersecurity operations.
The new board member holds advanced degrees in National Resource Strategy, Military Studies, and Computer Science, along with a dual bachelor's degree in Computing and Information Science, and Mathematics.
Andrew M. Leitch, chairman of the Blackbaud board, expressed confidence in Pyburn's ability to contribute to the company's strategic direction, particularly in strengthening cybersecurity practices. Pyburn himself is eager to apply his expertise in the private sector, emphasizing the importance of supporting social impact organizations.
Blackbaud, recognized by Newsweek as one of America's Most Responsible Companies, serves various sectors committed to social responsibility with its software. The company has facilitated the raising, granting, or managing of over $100 billion annually through its platforms and operates in multiple countries, supporting users worldwide. With expected net income growth this year and a strong return on invested capital, InvestingPro data reveals multiple growth drivers and 12 additional key insights available to subscribers, helping investors make informed decisions about this social impact leader.
Blackbaud, recognized by Newsweek as one of America's Most Responsible Companies, serves various sectors committed to social responsibility with its software. The company has facilitated the raising, granting, or managing of over $100 billion annually through its platforms and operates in multiple countries, supporting users worldwide.
This announcement is based on a press release statement, without additional commentary or speculation about the appointment's implications for the company or the broader industry.
In other recent news, Blackbaud Inc., the cloud software company, reported a 6.6% increase in overall revenue and a 6.8% rise in contractual recurring revenue in its Third Quarter 2024 Earnings Conference Call. This growth was primarily driven by the company's Social Sector. However, due to a 26% drop in revenue from its EVERFI segment, Blackbaud has adjusted its annual revenue guidance to $1.150 billion to $1.160 billion. The company also anticipates an adjusted EBITDA margin within the ranges of 33% to 34% and non-GAAP earnings per share between $3.98 to $4.16.
On the analyst front, Baird has revised its outlook for Blackbaud, downgrading the stock from Outperform to Neutral and reducing the price target to $80 from the previous $92. This decision was influenced by a general reset in growth expectations and a revised outlook for Blackbaud's core Social Sector. The firm's new forecast suggests a mid-single-digit increase in top-line revenue, a reduction from the previously anticipated growth rates set above 7%.
In other company developments, Blackbaud is planning to spin out EVERFI, which has been underperforming, thus altering the forward-looking investment thesis for the company. Goldman Sachs (NYSE:GS) is advising on strategic options for the EVERFI segment. The company continues to implement its stock repurchase strategy, aiming to buy back up to 10% of its common stock by year-end. Blackbaud also highlighted its ongoing investments in innovation and plans to focus on cost management, employee productivity, and strategic mergers and acquisitions.
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