Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Bottom-Up

<ul><li>Blackbaud's latest earnings results reflected a company strongly progressing towards its financial and operational objectives, manifesting robust financial metrics across various aspects of its business.</li><li>This update serves to delineate the company's current stance, portraying both its achievements and areas where challenges persist.</li><li>Starting on a positive note, Blackbaud has demonstrated marked proficiency in implementing its 5-point operating plan, which has yielded substantial returns.</li></ul>

Blackbaud's latest earnings results reflected a company strongly progressing towards its financial and operational objectives, manifesting robust financial metrics across various aspects of its business.This update serves to delineate the company's current stance, portraying both its achievements and areas where challenges persist.Starting on a positive note, Blackbaud has demonstrated marked proficiency in implementing its 5-point operating plan, which has yielded substantial returns.

Blackbaud Inc.: Expansion of Technological Innovation and AI Integration! - Major Drivers

External reports (aggregated public sources), Value Investors Club

Value Investors Club (VIC)

External reports (aggregated public sources)

Value Investors Club

<ul><li>Blackbaud, Inc. provides software solutions to nonprofits and educational institutions with over 40,000 customers</li><li>Private equity sees Blackbaud as an appealing target due to its market-leading position, subscription products, and cash generation</li><li>Clearlake Capital has proposed taking Blackbaud private for $71 per share, offering potential for a 25% premium and 17% IRR over 5 years</li></ul>This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.

Blackbaud, Inc. provides software solutions to nonprofits and educational institutions with over 40,000 customersPrivate equity sees Blackbaud as an appealing target due to its market-leading position, subscription products, and cash generationClearlake Capital has proposed taking Blackbaud private for $71 per share, offering potential for a 25% premium and 17% IRR over 5 yearsThis content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.

Blackbaud Inc (BLKB) - Thursday, Mar 7, 2024

Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>At the 3rd March Scheme Meeting, just 55.5% of <a href="https://www.smartkarma.com/entities/pushpay-holdings-ltd" target="_blank" data-smartkarma-citation="entities:13737:1" rel="noopener">Pushpay Holdings (PPH NZ)</a> shareholders voted for BGH/Sixth Street's NZ$1.34/share Offer. At first glance, that was that.</li>
<li>But uniquely in the M&amp;A world, BGH/Sixth Street returned on the 16 March with a NZ$1.42/share Offer, a bump of 6%, around the mid-point of the independent expert's valuation range.</li>
<li>The revised Scheme Booklet is now out with a new vote to take place on the 27 April.  Key shareholders and the IE are supportive. Implementation is estimated late-May.</li>
</ul>


At the 3rd March Scheme Meeting, just 55.5% of Pushpay Holdings (PPH NZ) shareholders voted for BGH/Sixth Street's NZ$1.34/share Offer. At first glance, that was that.
But uniquely in the M&amp;A world, BGH/Sixth Street returned on the 16 March with a NZ$1.42/share Offer, a bump of 6%, around the mid-point of the independent expert's valuation range.
The revised Scheme Booklet is now out with a new vote to take place on the 27 April.  Key shareholders and the IE are supportive. Implementation is estimated late-May.


Pushpay: Shareholder To Vote (Again) On 27 April

IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

IPOs and Catalysts/Events

Uncompromised, Independent, Conflict-Free Research

Global Equity Research Ltd

Global Equity Research was started in 2017 by a group of experienced research professionals. It was founded on a passionate belief in the importance and the need for uncompromised, independent, conflict-free research. We aim to provide differentiated and actionable primary and bottom up fundamental research.

<ul>
<li>
<a href="https://www.smartkarma.com/entities/pushpay-holdings-ltd" target="_blank" data-smartkarma-citation="entities:13737:1" rel="noopener">Pushpay Holdings (PPH NZ)</a>’s NZ$1.42 revised offer from Sixth Street/BGH is around the midpoint of the IE’s unchanged valuation range of NZ$1.33 to NZ$1.53 per share.</li>
<li>Class 3 shareholders are the key vote. On the assumption of a similar voter turnout to the last scheme, 81.3% of Class 3 shares will vote for the scheme.</li>
<li>This is a done deal. At the last close and for the 17 May payment, the gross and annualised spread is 2.2% and 21.4%, respectively.</li>
</ul>



Pushpay Holdings (PPH NZ)’s NZ$1.42 revised offer from Sixth Street/BGH is around the midpoint of the IE’s unchanged valuation range of NZ$1.33 to NZ$1.53 per share.
Class 3 shareholders are the key vote. On the assumption of a similar voter turnout to the last scheme, 81.3% of Class 3 shares will vote for the scheme.
This is a done deal. At the last close and for the 17 May payment, the gross and annualised spread is 2.2% and 21.4%, respectively.


Pushpay (PPH NZ): Revised Scheme Meeting on 27 April

<ul>
<li>Sixth Street/BGH have come back for <a href="https://www.smartkarma.com/entities/pushpay-holdings-ltd" target="_blank" data-smartkarma-citation="entities:13737:1" rel="noopener">Pushpay Holdings (PPH NZ)</a> with a revised offer of NZ$1.42 per share, a 6.0% premium to the previous failed offer of NZ$1.34 per share.</li>
<li>Sixth Street/BGH have secured total commitments to accept the offer from 28.9% of outstanding shares, including all the shareholders that publicly voted against the previous scheme. </li>
<li>The offer is around the mid-point of the IE’s valuation range. At the last close and for the end-May payment, the gross and annualised spread is 2.2% and 7.4%, respectively.</li>
</ul>


Sixth Street/BGH have come back for Pushpay Holdings (PPH NZ) with a revised offer of NZ$1.42 per share, a 6.0% premium to the previous failed offer of NZ$1.34 per share.
Sixth Street/BGH have secured total commitments to accept the offer from 28.9% of outstanding shares, including all the shareholders that publicly voted against the previous scheme. 
The offer is around the mid-point of the IE’s valuation range. At the last close and for the end-May payment, the gross and annualised spread is 2.2% and 7.4%, respectively.


Pushpay (PPH NZ): Sixth Street/BGH Return with a NZ$1.42 Offer

United States

Blackbaud, Inc. provides software and related services designed specifically for non-profit organizations. The Company's products and services enable non-profit organizations to increase donations, reduce fundraising costs, improve communication with constituents, manage their finances, and optimize internal operations.

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Blackbaud Inc (BLKB US)

Blackbaud Inc.: Expansion of Technological Innovation and AI Integration! - Major Drivers

Blackbaud's latest earnings results reflected a company strongly progressing towards its financial and operational objectives, manifesting robust...

Baptista Research

Blackbaud Inc (BLKB) - Thursday, Mar 7, 2024

Clearlake Capital has proposed taking Blackbaud private for $71 per share, offering potential for a 25% premium and 17% IRR over 5 years

Value Investors Club (VIC)

Pushpay: Shareholder To Vote (Again) On 27 April

This revised Scheme is done. Currently super tight at a 0.7%/4.8% gross/annualised spread assuming payment late May. If in, stay in. Otherwise,...

David Blennerhassett

Pushpay (PPH NZ): Revised Scheme Meeting on 27 April

This is a done deal due to the secured voting commitments. At the last close and for the 17 May payment, the gross and annualised spread is 2.2%...

Arun George

Pushpay (PPH NZ): Sixth Street/BGH Return with a NZ$1.42 Offer

Secured commitments and a fair revised price suggest a done deal. At the last close and for the end-May payment, the annualised spread is 7.4%.

Arun George

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