SCHEDULE 13G/A: Janus Henderson Group Discloses 4.3% Passive Stake in Blackbaud, Inc.

Janus Henderson Group plc has filed an Amendment No. 9 to Schedule 13G, reporting a passive beneficial ownership of 4.3% in Blackbaud, Inc. as of March 31, 2025.

Summary

• Janus Henderson Group plc, a Jersey-based parent holding company and investment adviser, has filed an Amendment No. 9 to Schedule 13G regarding its ownership in Blackbaud, Inc.
• As of March 31, 2025, Janus Henderson Group plc beneficially owns an aggregate of 2,122,257 shares of Blackbaud, Inc. Common Stock.
• This represents 4.3% of Blackbaud, Inc.'s outstanding Common Stock.
• All beneficially owned shares are held with shared voting power and shared dispositive power.
• One of its indirect subsidiaries, JHIUS, is deemed to be the beneficial owner of 2,020,709 shares, representing 4.1% of the class, also with shared voting and dispositive power.
• The filing certifies that the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing the control of Blackbaud, Inc.

Sentiment

Score: 5

Explanation: Neutral. This is a routine regulatory filing (Schedule 13G Amendment) indicating a passive ownership stake by an institutional investor. It does not contain positive or negative news about the issuer's operations or financial performance, nor does it signal any activist intent.

Positives

• Confirms continued institutional investment interest in Blackbaud, Inc. by Janus Henderson Group plc.

Risks

• No specific risks related to the issuer's operations or financial health are disclosed in this ownership filing.

Future Outlook

This Schedule 13G filing does not contain any forward-looking statements or guidance regarding Blackbaud, Inc.'s future performance or operations.

Management Comments

• Janus Henderson Group plc certified that the securities were acquired and are held in the ordinary course of business and not for the purpose of or with the effect of changing or influencing the control of Blackbaud, Inc.

Industry Context

This filing is a routine disclosure by a large institutional asset manager, Janus Henderson Group plc, indicating a passive investment stake in Blackbaud, Inc. It reflects standard portfolio management activities rather than a strategic industry move or a change in industry trends.

Stakeholder Impact

• Shareholders: Provides transparency regarding a significant institutional holder's passive stake, confirming continued investment interest.
• Employees, Customers, Suppliers, Creditors: No direct impact as this is a passive ownership disclosure and does not relate to operational or financial changes within Blackbaud, Inc.

Next Steps

• Janus Henderson Group plc will file further amendments to Schedule 13G if there are material changes to its beneficial ownership of Blackbaud, Inc. shares.

Key Dates

Keywords

Blackbaud Inc., Janus Henderson Group plc, Schedule 13G, SEC filing, beneficial ownership, common stock, institutional investment, passive stake, asset management