Blackbaud, Inc. (NASDAQ:BLKB) Shares Purchased by JPMorgan Chase & Co.

JPMorgan Chase & Co. boosted its stake in shares of Blackbaud, Inc. (NASDAQ:BLKB) by 3.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 225,634 shares of the technology company’s stock after acquiring an additional 7,097 shares during the quarter. JPMorgan Chase & Co. owned about 0.44% of Blackbaud worth $19,107,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Teachers Retirement System of The State of Kentucky lifted its holdings in shares of Blackbaud by 52.0% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 56,336 shares of the technology company’s stock worth $4,770,000 after purchasing an additional 19,270 shares during the period. Simcoe Capital Management LLC purchased a new stake in shares of Blackbaud in the third quarter valued at about $5,987,000. Kestrel Investment Management Corp acquired a new position in shares of Blackbaud during the second quarter worth about $4,795,000. Millennium Management LLC raised its holdings in Blackbaud by 2,240.8% during the second quarter. Millennium Management LLC now owns 63,411 shares of the technology company’s stock worth $4,830,000 after purchasing an additional 60,702 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its position in Blackbaud by 20.4% in the third quarter. Allspring Global Investments Holdings LLC now owns 320,058 shares of the technology company’s stock valued at $27,103,000 after purchasing an additional 54,138 shares during the period. 94.21% of the stock is currently owned by hedge funds and other institutional investors.

Blackbaud Stock Up 0.3 %

Blackbaud stock opened at $75.42 on Friday. Blackbaud, Inc. has a fifty-two week low of $66.47 and a fifty-two week high of $88.95. The firm has a market capitalization of $3.83 billion, a price-to-earnings ratio of 73.94 and a beta of 1.08. The stock’s fifty day moving average is $79.93 and its two-hundred day moving average is $80.24. The company has a debt-to-equity ratio of 1.79, a quick ratio of 0.68 and a current ratio of 0.68.

Blackbaud (NASDAQ:BLKB) last issued its quarterly earnings data on Wednesday, October 30th. The technology company reported $0.99 EPS for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.08). The business had revenue of $286.70 million during the quarter, compared to analyst estimates of $293.74 million. Blackbaud had a net margin of 4.61% and a return on equity of 20.34%. Blackbaud’s revenue was up 3.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.65 earnings per share. Analysts predict that Blackbaud, Inc. will post 2.6 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have issued reports on BLKB. Stifel Nicolaus boosted their target price on Blackbaud from $80.00 to $85.00 and gave the stock a “hold” rating in a research report on Thursday, September 26th. Raymond James dropped their price objective on Blackbaud from $98.00 to $95.00 and set an “outperform” rating on the stock in a report on Monday, October 7th. Baird R W lowered shares of Blackbaud from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 31st. Finally, Robert W. Baird downgraded shares of Blackbaud from an “outperform” rating to a “neutral” rating and cut their price target for the company from $92.00 to $80.00 in a report on Thursday, October 31st. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $86.67.

Insider Buying and Selling at Blackbaud

In other news, CEO Michael P. Gianoni sold 9,479 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $88.13, for a total transaction of $835,384.27. Following the sale, the chief executive officer now owns 344,079 shares in the company, valued at $30,323,682.27. This trade represents a 2.68 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Sarah E. Nash sold 3,100 shares of the company’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $83.98, for a total value of $260,338.00. Following the completion of the transaction, the director now owns 23,723 shares of the company’s stock, valued at $1,992,257.54. The trade was a 11.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 43,923 shares of company stock worth $3,737,450. 1.95% of the stock is owned by insiders.

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.