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

JPMorgan Chase & Co. raised its stake in Blackbaud, Inc. (NASDAQ:BLKB) by 3.2% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 225,634 shares of the technology company’s stock after purchasing an additional 7,097 shares during the quarter. JPMorgan Chase & Co.’s holdings in Blackbaud were worth $19,107,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in the stock. Quest Partners LLC boosted its holdings in Blackbaud by 2,950.0% in the second quarter. Quest Partners LLC now owns 427 shares of the technology company’s stock valued at $33,000 after acquiring an additional 413 shares during the last quarter. TD Private Client Wealth LLC lifted its stake in shares of Blackbaud by 42.0% in the 3rd quarter. TD Private Client Wealth LLC now owns 1,174 shares of the technology company’s stock valued at $99,000 after purchasing an additional 347 shares in the last quarter. Blue Trust Inc. grew its holdings in shares of Blackbaud by 190.4% during the 3rd 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 period. Meeder Asset Management Inc. acquired a new stake in Blackbaud during the 3rd quarter worth approximately $142,000. Finally, EP Wealth Advisors LLC purchased a new position in Blackbaud in the third quarter valued at approximately $294,000. 94.21% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Blackbaud Stock Performance

Shares of BLKB stock opened at $75.42 on Friday. The company has a debt-to-equity ratio of 1.79, a current ratio of 0.68 and a quick ratio of 0.68. The company’s fifty day moving average price is $79.93 and its two-hundred day moving average price is $80.24. The firm has a market capitalization of $3.83 billion, a P/E ratio of 73.94 and a beta of 1.08. Blackbaud, Inc. has a 12 month low of $66.47 and a 12 month high of $88.95.

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

Insider Activity

In related news, CEO Michael P. Gianoni sold 9,479 shares of Blackbaud stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $88.13, for a total value of $835,384.27. Following the completion of the transaction, the chief executive officer now directly owns 344,079 shares in the company, valued at approximately $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 accessible through this link. Also, Director Sarah E. Nash sold 3,100 shares of the company’s stock in a transaction that occurred 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 sale, the director now owns 23,723 shares in the company, valued at $1,992,257.54. The trade was a 11.56 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 43,923 shares of company stock worth $3,737,450. 1.95% of the stock is currently owned by insiders.

Blackbaud Company Profile

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.