Janus Henderson Group PLC Has $241.38 Million Stock Position in Blackbaud, Inc. (NASDAQ:BLKB)

Janus Henderson Group PLC raised its position in Blackbaud, Inc. (NASDAQ:BLKB) by 0.1% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 2,850,462 shares of the technology company’s stock after acquiring an additional 2,155 shares during the period. Janus Henderson Group PLC owned approximately 5.62% of Blackbaud worth $241,376,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. DT Investment Partners LLC acquired a new stake in shares of Blackbaud in the 2nd quarter worth about $33,000. Quest Partners LLC increased its holdings in Blackbaud by 2,950.0% during the 2nd quarter. Quest Partners LLC now owns 427 shares of the technology company’s stock worth $33,000 after purchasing an additional 413 shares in the last quarter. Blue Trust Inc. raised its stake in shares of Blackbaud by 190.4% in the third quarter. Blue Trust Inc. now owns 1,597 shares of the technology company’s stock worth $135,000 after purchasing an additional 1,047 shares during the last quarter. Meeder Asset Management Inc. bought a new position in shares of Blackbaud in the third quarter valued at approximately $142,000. Finally, Legacy Capital Wealth Partners LLC purchased a new position in shares of Blackbaud during the second quarter valued at approximately $201,000. Institutional investors own 94.21% of the company’s stock.

Blackbaud Price Performance

BLKB opened at $82.67 on Wednesday. Blackbaud, Inc. has a fifty-two week low of $66.47 and a fifty-two week high of $88.95. The firm has a 50-day moving average of $83.63 and a 200 day moving average of $80.42. The company has a debt-to-equity ratio of 1.79, a quick ratio of 0.68 and a current ratio of 0.68. The firm has a market cap of $4.19 billion, a P/E ratio of 81.05 and a beta of 1.06.

Blackbaud (NASDAQ:BLKB) last released its earnings results on Wednesday, October 30th. The technology company reported $0.99 earnings per share for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.08). The company had revenue of $286.70 million for the quarter, compared to the consensus estimate of $293.74 million. Blackbaud had a net margin of 4.61% and a return on equity of 20.34%. The firm’s revenue was up 3.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.65 earnings per share. On average, research analysts expect that Blackbaud, Inc. will post 2.6 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have weighed in on BLKB. Stifel Nicolaus raised their price objective on Blackbaud from $80.00 to $85.00 and gave the company a “hold” rating in a research note on Thursday, September 26th. Raymond James dropped their price target on shares of Blackbaud from $98.00 to $95.00 and set an “outperform” rating on the stock in a research report on Monday, October 7th. Robert W. Baird downgraded shares of Blackbaud from an “outperform” rating to a “neutral” rating and reduced their price objective for the stock from $92.00 to $80.00 in a research report on Thursday, October 31st. Finally, Baird R W downgraded Blackbaud from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 31st. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $86.67.

Insider Transactions at Blackbaud

In other Blackbaud news, CEO Michael P. Gianoni sold 12,325 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $83.25, for a total value of $1,026,056.25. Following the completion of the sale, the chief executive officer now owns 389,539 shares of the company’s stock, valued at $32,429,121.75. This represents a 3.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Sarah E. Nash sold 3,100 shares of Blackbaud stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $83.98, for a total transaction of $260,338.00. Following the transaction, the director now directly owns 23,723 shares in the company, valued at $1,992,257.54. This trade represents a 11.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 51,394 shares of company stock valued at $4,373,270. Insiders own 1.95% of the company’s stock.

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.