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

Blackbaud, Inc. (NASDAQ:BLKB) was the target of a large growth in short interest during the month of March. As of March 15th, there was short interest totalling 940,500 shares, a growth of 31.1% from the February 28th total of 717,600 shares. Approximately 2.4% of the company’s shares are short sold. Based on an average daily volume of 277,800 shares, the short-interest ratio is presently 3.4 days.

Analyst Ratings Changes

Separately, Robert W. Baird dropped their price objective on Blackbaud from $80.00 to $76.00 and set a “neutral” rating for the company in a report on Wednesday, February 19th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $85.33.

Blackbaud Stock Up 0.1 %

BLKB stock traded up $0.08 during midday trading on Monday, hitting $62.19. The company’s stock had a trading volume of 34,964 shares, compared to its average volume of 232,671. The firm’s 50-day moving average is $70.60 and its 200-day moving average is $77.47. The company has a current ratio of 0.78, a quick ratio of 0.68 and a debt-to-equity ratio of 7.40. Blackbaud has a 12 month low of $61.23 and a 12 month high of $88.95. The company has a market cap of $3.06 billion, a PE ratio of -10.57 and a beta of 1.08.

Blackbaud (NASDAQ:BLKB) last announced its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.50). Blackbaud had a negative net margin of 24.83% and a positive return on equity of 26.30%. The company had revenue of $302.23 million for the quarter, compared to analysts’ expectations of $303.41 million. On average, equities research analysts forecast that Blackbaud will post 3.05 earnings per share for the current fiscal year.

Institutional Trading of Blackbaud

Hedge funds have recently bought and sold shares of the stock. Vestcor Inc bought a new stake in Blackbaud during the 4th quarter worth approximately $75,000. TD Private Client Wealth LLC increased its stake in shares of Blackbaud by 42.0% in the third quarter. TD Private Client Wealth LLC now owns 1,174 shares of the technology company’s stock worth $99,000 after purchasing an additional 347 shares in the last quarter. KBC Group NV raised its position in shares of Blackbaud by 33.9% during the 4th quarter. KBC Group NV now owns 1,676 shares of the technology company’s stock valued at $124,000 after purchasing an additional 424 shares during the period. Huntington National Bank lifted its stake in shares of Blackbaud by 13.9% during 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 in the last quarter. Finally, Blue Trust Inc. boosted its holdings in Blackbaud by 20.9% in the 4th quarter. Blue Trust Inc. now owns 1,930 shares of the technology company’s stock worth $143,000 after buying an additional 333 shares during the period. Institutional investors 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.