Blackbaud, Inc. (BLKB) Position Raised by Janus Henderson Group PLC
Janus Henderson Group PLC increased its holdings in shares of Blackbaud, Inc. (NASDAQ:BLKB) by 787.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,144,524 shares of the technology company’s stock after purchasing an additional 3,677,492 shares during the quarter. Janus Henderson Group PLC owned approximately 8.88% of Blackbaud worth $355,393,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of the stock. Southeast Asset Advisors Inc. lifted its stake in Blackbaud by 138.1% during the second quarter. Southeast Asset Advisors Inc. now owns 11,120 shares of the technology company’s stock worth $954,000 after purchasing an additional 6,450 shares during the last quarter. Flinton Capital Management LLC lifted its stake in Blackbaud by 6.0% during the second quarter. Flinton Capital Management LLC now owns 3,408 shares of the technology company’s stock worth $292,000 after purchasing an additional 192 shares during the last quarter. Fred Alger Management Inc. lifted its stake in Blackbaud by 32.6% during the second quarter. Fred Alger Management Inc. now owns 442,879 shares of the technology company’s stock worth $37,977,000 after purchasing an additional 108,786 shares during the last quarter. AHL Partners LLP lifted its stake in Blackbaud by 107.4% during the second quarter. AHL Partners LLP now owns 32,856 shares of the technology company’s stock worth $2,817,000 after purchasing an additional 17,015 shares during the last quarter. Finally, HighTower Advisors LLC purchased a new stake in Blackbaud during the second quarter worth approximately $241,000.
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Several equities research analysts recently weighed in on the company. Zacks Investment Research upgraded Blackbaud from a “sell” rating to a “hold” rating in a research note on Tuesday. Robert W. Baird set a $85.00 price target on Blackbaud and gave the stock a “hold” rating in a research report on Sunday, October 1st. Citigroup Inc. assumed coverage on Blackbaud in a research report on Friday, September 22nd. They set a “buy” rating and a $100.00 price target on the stock. B. Riley reaffirmed a “neutral” rating and set a $78.00 price target on shares of Blackbaud in a research report on Monday, August 28th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $96.00 price target on shares of Blackbaud in a research report on Friday, July 21st. One investment analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $85.25.
In related news, Director George H. Ellis sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $85.40, for a total value of $256,200.00. Following the sale, the director now owns 9,011 shares of the company’s stock, valued at approximately $769,539.40. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Jon W. Olson sold 5,282 shares of the firm’s stock in a transaction that occurred on Thursday, August 31st. The stock was sold at an average price of $84.24, for a total value of $444,955.68. Following the completion of the sale, the senior vice president now directly owns 50,756 shares in the company, valued at approximately $4,275,685.44. The disclosure for this sale can be found here. In the last three months, insiders sold 20,752 shares of company stock worth $1,771,517. Company insiders own 2.19% of the company’s stock.
Blackbaud, Inc. (NASDAQ BLKB) traded down 0.357% on Friday, reaching $87.975. The company’s stock had a trading volume of 17,364 shares. The firm’s 50 day moving average price is $84.78 and its 200-day moving average price is $83.73. The company has a market capitalization of $4.11 billion, a price-to-earnings ratio of 84.673 and a beta of 0.84. Blackbaud, Inc. has a 52 week low of $55.88 and a 52 week high of $93.81.
Blackbaud (NASDAQ:BLKB) last announced its quarterly earnings results on Monday, July 31st. The technology company reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.12). The company had revenue of $192.50 million during the quarter, compared to the consensus estimate of $193.66 million. Blackbaud had a return on equity of 30.88% and a net margin of 6.46%. The company’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same period last year, the business posted $0.46 EPS. On average, equities analysts predict that Blackbaud, Inc. will post $2.13 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Monday, August 28th were issued a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 0.54%. The ex-dividend date was Thursday, August 24th. Blackbaud’s dividend payout ratio (DPR) is 47.06%.
Blackbaud, Inc is a cloud software company. The Company offers a range of cloud and on-premise solutions, as well as a resource network that empowers and connects organizations of all sizes. Its segments include the General Markets Business Unit (the GMBU), the Enterprise Customer Business Unit (the ECBU) and the International Business Unit (the IBU).
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