Short Interest in Blackbaud, Inc. (NASDAQ:BLKB) Rises By 11.7%

Blackbaud, Inc. (NASDAQ:BLKB) was the target of a significant increase in short interest during the month of August. As of August 31st, there was short interest totalling 570,000 shares, an increase of 11.7% from the August 15th total of 510,300 shares. Approximately 1.4% of the shares of the company are short sold. Based on an average daily volume of 208,400 shares, the short-interest ratio is currently 2.7 days.

Insider Activity at Blackbaud

In related news, SVP Jon W. Olson sold 4,000 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $76.00, for a total value of $304,000.00. Following the transaction, the senior vice president now owns 29,628 shares in the company, valued at $2,251,728. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, SVP Jon W. Olson sold 4,000 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $76.00, for a total value of $304,000.00. Following the completion of the transaction, the senior vice president now directly owns 29,628 shares of the company’s stock, valued at $2,251,728. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Sarah E. Nash sold 3,220 shares of the firm’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $76.18, for a total value of $245,299.60. Following the completion of the transaction, the director now directly owns 26,823 shares of the company’s stock, valued at $2,043,376.14. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 47,938 shares of company stock worth $3,847,373. Insiders own 1.95% of the company’s stock.

Institutional Investors Weigh In On Blackbaud

Several large investors have recently added to or reduced their stakes in BLKB. DT Investment Partners LLC purchased a new stake in Blackbaud during the second quarter valued at about $33,000. Quest Partners LLC raised its position in Blackbaud by 2,950.0% during the second quarter. Quest Partners LLC now owns 427 shares of the technology company’s stock valued at $33,000 after purchasing an additional 413 shares in the last quarter. YHB Investment Advisors Inc. purchased a new stake in Blackbaud during the first quarter valued at about $54,000. Parallel Advisors LLC raised its position in Blackbaud by 303.3% during the fourth quarter. Parallel Advisors LLC now owns 734 shares of the technology company’s stock valued at $64,000 after purchasing an additional 552 shares in the last quarter. Finally, AXS Investments LLC purchased a new position in shares of Blackbaud in the fourth quarter worth about $181,000. Institutional investors own 94.21% of the company’s stock.

Blackbaud Price Performance

NASDAQ:BLKB traded down $0.32 during trading hours on Monday, hitting $84.45. 140,906 shares of the company’s stock traded hands, compared to its average volume of 241,004. The firm has a market cap of $4.36 billion, a P/E ratio of 206.05 and a beta of 1.02. Blackbaud has a 52 week low of $64.32 and a 52 week high of $88.56. The business’s fifty day simple moving average is $78.99 and its two-hundred day simple moving average is $76.88. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.73.

Blackbaud (NASDAQ:BLKB) last posted its quarterly earnings data on Tuesday, July 30th. The technology company reported $1.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.04 by $0.04. The company had revenue of $287.29 million during the quarter, compared to analyst estimates of $289.26 million. Blackbaud had a return on equity of 18.54% and a net margin of 3.64%. The firm’s quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter last year, the company earned $0.49 earnings per share. On average, research analysts anticipate that Blackbaud will post 2.38 earnings per share for the current fiscal year.

Analysts Set New Price Targets

BLKB has been the subject of a number of analyst reports. Evercore ISI raised Blackbaud to a “hold” rating in a report on Thursday, August 1st. Robert W. Baird raised their price target on Blackbaud from $88.00 to $92.00 and gave the stock an “outperform” rating in a report on Thursday, August 1st.

About Blackbaud

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.