JPMorgan Chase & Co. Grows Stock Holdings in Blackbaud, Inc. (NASDAQ:BLKB)

JPMorgan Chase & Co. grew its position in Blackbaud, Inc. (NASDAQ:BLKB - Free Report) by 3.2% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 225,634 shares of the technology company's stock after buying an additional 7,097 shares during the period. JPMorgan Chase & Co. owned 0.44% of Blackbaud worth $19,107,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. 272 Capital LP purchased a new stake in Blackbaud in the third quarter valued at about $872,000. Franklin Resources Inc. increased its holdings in shares of Blackbaud by 3.7% during the third quarter. Franklin Resources Inc. now owns 15,024 shares of the technology company's stock valued at $1,261,000 after acquiring an additional 532 shares in the last quarter. TD Private Client Wealth LLC raised its position 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 during the last quarter. Teachers Retirement System of The State of Kentucky boosted its stake in Blackbaud by 52.0% in the 3rd 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 in the last quarter. Finally, M&T Bank Corp grew its position in Blackbaud by 85.2% during the 3rd quarter. M&T Bank Corp now owns 25,193 shares of the technology company's stock worth $2,133,000 after purchasing an additional 11,591 shares during the last quarter. Hedge funds and other institutional investors own 94.21% of the company's stock.

Analyst Upgrades and Downgrades

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

Blackbaud Stock Performance

Shares of BLKB traded down $0.81 during trading hours on Friday, hitting $74.61. The stock had a trading volume of 136,758 shares, compared to its average volume of 151,726. The firm has a market capitalization of $3.78 billion, a price-to-earnings ratio of 73.15 and a beta of 1.08. 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 50-day moving average price of $79.93 and a 200 day moving average price of $80.24. Blackbaud, Inc. has a fifty-two week low of $66.47 and a fifty-two week high of $88.95.

Blackbaud (NASDAQ:BLKB - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The technology company reported $0.99 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.07 by ($0.08). The business had revenue of $286.70 million for the quarter, compared to analysts' expectations of $293.74 million. Blackbaud had a return on equity of 20.34% and a net margin of 4.61%. The business's revenue for the quarter was up 3.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.65 EPS. As a group, research analysts anticipate that Blackbaud, Inc. will post 2.6 EPS for the current year.

Insider Activity at Blackbaud

In related news, CEO Michael P. Gianoni sold 9,479 shares of the stock in a transaction on 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 of the company's stock, valued at approximately $30,323,682.27. This represents a 2.68 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Sarah E. Nash sold 3,100 shares of the firm'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 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 quarter, insiders have sold 43,923 shares of company stock valued at $3,737,450. 1.95% of the stock is owned by company 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.