Janus Henderson Group PLC Increases Stock Position in Blackbaud, Inc. (NASDAQ:BLKB)

Janus Henderson Group PLC raised its holdings in shares of Blackbaud, Inc. (NASDAQ:BLKB - Free Report) by 1.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,885,062 shares of the technology company's stock after purchasing an additional 34,600 shares during the period. Janus Henderson Group PLC owned 5.86% of Blackbaud worth $213,263,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in BLKB. Norges Bank acquired a new position in shares of Blackbaud during the fourth quarter worth $34,168,000. Penn Capital Management Company LLC acquired a new position in shares of Blackbaud during the fourth quarter worth $10,581,000. Bank of New York Mellon Corp increased its position in shares of Blackbaud by 41.0% during the fourth quarter. Bank of New York Mellon Corp now owns 482,561 shares of the technology company's stock worth $35,671,000 after purchasing an additional 140,273 shares in the last quarter. New York State Common Retirement Fund increased its position in shares of Blackbaud by 63.5% during the fourth quarter. New York State Common Retirement Fund now owns 282,250 shares of the technology company's stock worth $20,864,000 after purchasing an additional 109,630 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of Blackbaud by 44.3% in the 4th quarter. JPMorgan Chase & Co. now owns 325,637 shares of the technology company's stock valued at $24,071,000 after acquiring an additional 100,003 shares during the period. 94.21% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on BLKB shares. Robert W. Baird cut their target price on Blackbaud from $80.00 to $76.00 and set a "neutral" rating on the stock in a research report on Wednesday, February 19th. Stifel Nicolaus cut their target price on Blackbaud from $75.00 to $65.00 and set a "hold" rating on the stock in a research report on Thursday, May 1st. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, Blackbaud has a consensus rating of "Hold" and a consensus price target of $78.67.

Blackbaud Stock Performance

NASDAQ:BLKB traded up $0.30 during mid-day trading on Friday, hitting $64.12. The company's stock had a trading volume of 105,546 shares, compared to its average volume of 241,515. Blackbaud, Inc. has a 1 year low of $58.05 and a 1 year high of $88.95. The company has a debt-to-equity ratio of 7.40, a current ratio of 0.78 and a quick ratio of 0.68. The stock has a market cap of $3.11 billion, a price-to-earnings ratio of -10.87 and a beta of 1.16. The business's fifty day moving average is $62.59 and its two-hundred day moving average is $72.14.

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

Insiders Place Their Bets

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

Blackbaud Company Profile

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.