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

Blackbaud, Inc. (NASDAQ:BLKB) was the recipient of a large growth in short interest in the month of August. As of August 31st, there was short interest totalling 570,000 shares, a growth of 11.7% from the August 15th total of 510,300 shares. Currently, 1.4% of the shares of the stock are sold short. Based on an average trading volume of 208,400 shares, the days-to-cover ratio is presently 2.7 days.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on BLKB shares. Robert W. Baird boosted their price objective on Blackbaud from $88.00 to $92.00 and gave the stock an “outperform” rating in a research note on Thursday, August 1st. Evercore ISI upgraded shares of Blackbaud to a “hold” rating in a research report on Thursday, August 1st.

Blackbaud Trading Down 0.3 %

BLKB opened at $84.18 on Wednesday. The stock has a market capitalization of $4.35 billion, a PE ratio of 205.32 and a beta of 1.02. Blackbaud has a one year low of $64.32 and a one year high of $88.56. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.80 and a current ratio of 0.80. The business’s 50 day moving average price is $79.18 and its 200 day moving average price is $77.00.

Blackbaud (NASDAQ:BLKB) last released its quarterly earnings results on Tuesday, July 30th. The technology company reported $1.08 earnings per share for the quarter, topping analysts’ consensus estimates of $1.04 by $0.04. The business had revenue of $287.29 million during the quarter, compared to analysts’ expectations of $289.26 million. Blackbaud had a return on equity of 18.54% and a net margin of 3.64%. The company’s revenue was up 6.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.49 EPS. As a group, equities research analysts expect that Blackbaud will post 2.38 EPS for the current year.

Insider Activity at Blackbaud

In other Blackbaud news, Director Sarah E. Nash sold 3,220 shares of the company’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $76.18, for a total transaction of $245,299.60. Following the completion of the transaction, the director now directly owns 26,823 shares in the company, valued at $2,043,376.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Sarah E. Nash sold 3,220 shares of the 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 approximately $2,043,376.14. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Kevin Mcdearis sold 18,996 shares of Blackbaud stock in a transaction on Friday, August 30th. The stock was sold at an average price of $83.00, for a total transaction of $1,576,668.00. Following the sale, the executive vice president now directly owns 67,012 shares in the company, valued at approximately $5,561,996. The disclosure for this sale can be found here. In the last quarter, insiders have sold 47,938 shares of company stock valued at $3,847,373. 1.95% of the stock is owned by company insiders.

Hedge Funds Weigh In On Blackbaud

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Quest Partners LLC boosted its stake in shares of Blackbaud by 2,950.0% in 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 during the period. DT Investment Partners LLC purchased a new stake in Blackbaud during the 2nd quarter worth approximately $33,000. YHB Investment Advisors Inc. acquired a new stake in Blackbaud during the 1st quarter worth approximately $54,000. Parallel Advisors LLC boosted its position in Blackbaud by 303.3% in the 4th quarter. Parallel Advisors LLC now owns 734 shares of the technology company’s stock valued at $64,000 after buying an additional 552 shares during the period. Finally, AXS Investments LLC acquired a new position in shares of Blackbaud in the fourth quarter worth $181,000. 94.21% of the stock is currently owned by hedge funds and other institutional investors.

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.