Blackbaud, Inc. (BLKB) Position Increased by JPMorgan Chase & Co.

JPMorgan Chase & Co. boosted its stake in Blackbaud, Inc. (NASDAQ:BLKB) by 2.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 945,845 shares of the technology company’s stock after acquiring an additional 26,980 shares during the period. JPMorgan Chase & Co. owned 1.97% of Blackbaud worth $82,432,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in BLKB. Janus Henderson Group PLC raised its position in shares of Blackbaud by 787.4% in the 2nd quarter. Janus Henderson Group PLC now owns 4,144,524 shares of the technology company’s stock worth $355,393,000 after purchasing an additional 3,677,492 shares during the last quarter. State Street Corp raised its position in shares of Blackbaud by 37.0% in the 2nd quarter. State Street Corp now owns 1,587,812 shares of the technology company’s stock worth $136,159,000 after purchasing an additional 428,948 shares during the last quarter. Koch Industries Inc. purchased a new position in shares of Blackbaud in the 2nd quarter worth about $375,000. FMR LLC raised its position in shares of Blackbaud by 142.0% in the 2nd quarter. FMR LLC now owns 345,736 shares of the technology company’s stock worth $29,647,000 after purchasing an additional 202,843 shares during the last quarter. Finally, Lord Abbett & CO. LLC purchased a new position in shares of Blackbaud in the 2nd quarter worth about $12,284,000.

Several equities analysts have recently issued reports on BLKB shares. B. Riley set a $82.00 price target on Blackbaud and gave the stock a “hold” rating in a research report on Thursday, October 26th. Dougherty & Co started coverage on Blackbaud in a research report on Tuesday, October 31st. They issued a “neutral” rating for the company. 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 started coverage on Blackbaud in a research report on Friday, September 22nd. They issued a “buy” rating and a $100.00 price target for the company. Finally, Zacks Investment Research raised Blackbaud from a “sell” rating to a “hold” rating in a research report on Tuesday, October 3rd. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Blackbaud currently has a consensus rating of “Buy” and a consensus price target of $94.75.

Blackbaud, Inc. (NASDAQ BLKB) opened at $95.80 on Wednesday. Blackbaud, Inc. has a 52-week low of $61.98 and a 52-week high of $104.55. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.63 and a quick ratio of 0.63. The firm has a market capitalization of $4,573.80, a PE ratio of 56.61, a price-to-earnings-growth ratio of 5.84 and a beta of 0.82.

Blackbaud (NASDAQ:BLKB) last issued its earnings results on Wednesday, October 25th. The technology company reported $0.56 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.51 by $0.05. Blackbaud had a return on equity of 31.25% and a net margin of 6.82%. The business had revenue of $195.51 million during the quarter, compared to analyst estimates of $196.35 million. During the same quarter in the previous year, the firm earned $0.45 EPS. Blackbaud’s revenue was up 6.8% on a year-over-year basis. equities analysts forecast that Blackbaud, Inc. will post 1.57 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Tuesday, November 28th will be given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.50%. The ex-dividend date of this dividend is Monday, November 27th. Blackbaud’s dividend payout ratio (DPR) is 44.04%.

In other Blackbaud news, EVP Kevin W. Mooney sold 4,466 shares of the business’s stock in a transaction dated Tuesday, November 14th. The stock was sold at an average price of $101.00, for a total transaction of $451,066.00. Following the completion of the sale, the executive vice president now directly owns 71,655 shares in the company, valued at approximately $7,237,155. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Kevin W. Mooney sold 900 shares of the business’s stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $101.17, for a total value of $91,053.00. Following the sale, the executive vice president now owns 77,711 shares of the company’s stock, valued at $7,862,021.87. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 9,655 shares of company stock valued at $972,923. Corporate insiders own 2.19% of the company’s stock.

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About Blackbaud

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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Institutional Ownership by Quarter for Blackbaud (NASDAQ:BLKB)

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