Janus Henderson Group PLC Purchases 34,600 Shares of Blackbaud, Inc. (NASDAQ:BLKB)

Janus Henderson Group PLC grew its stake in Blackbaud, Inc. (NASDAQ:BLKB - Free Report) by 1.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,885,062 shares of the technology company's stock after acquiring an additional 34,600 shares during the period. Janus Henderson Group PLC owned 5.86% of Blackbaud worth $213,263,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Vestcor Inc bought a new position in shares of Blackbaud in the fourth quarter worth about $75,000. KBC Group NV raised its stake in shares of Blackbaud by 33.9% in the fourth quarter. KBC Group NV now owns 1,676 shares of the technology company's stock worth $124,000 after acquiring an additional 424 shares during the last quarter. Huntington National Bank raised its stake in shares of Blackbaud by 13.9% in the fourth quarter. Huntington National Bank now owns 1,864 shares of the technology company's stock worth $138,000 after acquiring an additional 227 shares during the last quarter. Blue Trust Inc. raised its stake in shares of Blackbaud by 20.9% in the fourth quarter. Blue Trust Inc. now owns 1,930 shares of the technology company's stock worth $143,000 after acquiring an additional 333 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of Blackbaud by 31.8% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,069 shares of the technology company's stock worth $154,000 after acquiring an additional 499 shares during the last quarter. 94.21% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, SVP Jon W. Olson sold 10,698 shares of the business'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 directly owns 23,799 shares of the company's stock, valued at $1,455,308.85. The trade was a 31.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 1.95% of the stock is currently owned by insiders.

Blackbaud Trading Up 1.0%

Shares of BLKB traded up $0.64 on Friday, reaching $64.46. 218,201 shares of the company's stock were exchanged, compared to its average volume of 240,978. The company has a current ratio of 0.78, a quick ratio of 0.68 and a debt-to-equity ratio of 7.40. The stock has a market capitalization of $3.13 billion, a P/E ratio of -10.93 and a beta of 1.16. The business has a 50 day moving average price of $62.54 and a two-hundred day moving average price of $71.97. Blackbaud, Inc. has a 12 month low of $58.05 and a 12 month high of $88.95.

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

Wall Street Analysts Forecast Growth

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

About Blackbaud

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.