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

Blackbaud, Inc. (NASDAQ:BLKB) was the target of a significant decrease in short interest in January. As of January 31st, there was short interest totalling 559,200 shares, a decrease of 8.6% from the January 15th total of 611,600 shares. Based on an average daily volume of 200,700 shares, the short-interest ratio is currently 2.8 days. Currently, 1.4% of the company’s stock are sold short.

Insider Transactions at Blackbaud

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

Institutional Investors Weigh In On Blackbaud

Hedge funds have recently modified their holdings of the company. Vestcor Inc purchased a new stake in shares of Blackbaud during the 4th quarter worth about $75,000. TD Private Client Wealth LLC boosted its stake in shares of Blackbaud by 42.0% during the 3rd quarter. TD Private Client Wealth LLC now owns 1,174 shares of the technology company’s stock worth $99,000 after acquiring an additional 347 shares in the last quarter. Blue Trust Inc. boosted its stake in shares of Blackbaud by 190.4% during the 3rd quarter. Blue Trust Inc. now owns 1,597 shares of the technology company’s stock worth $135,000 after acquiring an additional 1,047 shares in the last quarter. KBC Group NV lifted its stake 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 in the last quarter. Finally, Meeder Asset Management Inc. purchased a new position in Blackbaud in the 3rd quarter valued at about $142,000. 94.21% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have weighed in on BLKB. Baird R W downgraded Blackbaud from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 31st. Robert W. Baird downgraded Blackbaud from an “outperform” rating to a “neutral” rating and cut their price target for the stock from $92.00 to $80.00 in a research report on Thursday, October 31st. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $86.67.

Blackbaud Price Performance

Shares of BLKB opened at $70.96 on Wednesday. The business’s 50-day moving average is $76.88 and its two-hundred day moving average is $80.37. The company has a market capitalization of $3.49 billion, a P/E ratio of 69.57 and a beta of 1.08. The company has a debt-to-equity ratio of 1.79, a quick ratio of 0.68 and a current ratio of 0.68. Blackbaud has a fifty-two week low of $66.47 and a fifty-two week high of $88.95.

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

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.