Blackbaud, Inc. (NASDAQ:BLKB) Short Interest Update

Blackbaud, Inc. (NASDAQ:BLKB) was the recipient of a large drop in short interest in January. As of January 31st, there was short interest totalling 559,200 shares, a drop of 8.6% from the January 15th total of 611,600 shares. Approximately 1.4% of the shares of the stock are sold short. Based on an average daily trading volume, of 200,700 shares, the days-to-cover ratio is presently 2.8 days.

Blackbaud Stock Down 11.2 %

Blackbaud stock opened at $70.96 on Wednesday. Blackbaud has a fifty-two week low of $66.47 and a fifty-two week high of $88.95. 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 $76.88 and a 200 day moving average price of $80.37. The company has a market capitalization of $3.49 billion, a PE ratio of 69.57 and a beta of 1.08.

Blackbaud (NASDAQ:BLKB) last posted its earnings results on Tuesday, February 18th. The technology company reported $0.58 earnings per share for the quarter, missing the consensus estimate of $1.08 by ($0.50). Blackbaud had a net margin of 4.61% and a return on equity of 20.34%. Research analysts expect that Blackbaud will post 2.6 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on BLKB shares. Baird R W lowered shares of Blackbaud from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 31st. Robert W. Baird lowered shares of Blackbaud from an “outperform” rating to a “neutral” rating and decreased their target price for the stock from $92.00 to $80.00 in a research note on Thursday, October 31st. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $86.67.

Insider Activity at Blackbaud

In related news, CEO Michael P. Gianoni sold 800 shares of the firm’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $83.15, for a total value of $66,520.00. Following the transaction, the chief executive officer now directly owns 373,293 shares of the company’s stock, valued at approximately $31,039,312.95. This trade represents a 0.21 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Anthony W. Boor sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $84.85, for a total transaction of $848,500.00. Following the completion of the transaction, the chief financial officer now directly owns 140,262 shares in the company, valued at $11,901,230.70. This trade represents a 6.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 20,279 shares of company stock valued at $1,750,404. 1.95% of the stock is owned by corporate insiders.

Institutional Trading of Blackbaud

Several institutional investors have recently added to or reduced their stakes in the stock. Vestcor Inc purchased a new position in Blackbaud in the 4th quarter valued at approximately $75,000. TD Private Client Wealth LLC boosted its position in 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 buying an additional 347 shares during the period. KBC Group NV boosted its position in Blackbaud by 33.9% in the 4th quarter. KBC Group NV now owns 1,676 shares of the technology company’s stock valued at $124,000 after buying an additional 424 shares during the period. Blue Trust Inc. boosted its position in Blackbaud by 190.4% in the 3rd quarter. Blue Trust Inc. now owns 1,597 shares of the technology company’s stock valued at $135,000 after buying an additional 1,047 shares during the period. Finally, Huntington National Bank boosted its position in Blackbaud by 13.9% in the 4th quarter. Huntington National Bank now owns 1,864 shares of the technology company’s stock valued at $138,000 after buying an additional 227 shares during the period. Institutional investors and hedge funds own 94.21% of the company’s stock.

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.