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

Blackbaud, Inc. (NASDAQ:BLKB) saw a large decrease in short interest in the month of July. As of July 15th, there was short interest totalling 566,400 shares, a decrease of 8.1% from the June 30th total of 616,500 shares. Based on an average trading volume of 218,300 shares, the short-interest ratio is presently 2.6 days. Currently, 1.4% of the shares of the stock are sold short.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. StockNews.com raised Blackbaud from a “hold” rating to a “buy” rating in a research note on Wednesday, May 8th. Robert W. Baird raised their price target on shares of Blackbaud from $88.00 to $92.00 and gave the stock an “outperform” rating in a report on Thursday.

Insider Transactions at Blackbaud

In other Blackbaud news, CFO Anthony W. Boor sold 1,106 shares of the company’s stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $78.86, for a total value of $87,219.16. Following the completion of the sale, the chief financial officer now directly owns 150,262 shares in the company, valued at $11,849,661.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP David J. Benjamin sold 16,700 shares of the stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $77.81, for a total transaction of $1,299,427.00. Following the completion of the sale, the executive vice president now directly owns 74,458 shares of the company’s stock, valued at $5,793,576.98. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Anthony W. Boor sold 1,106 shares of Blackbaud stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $78.86, for a total transaction of $87,219.16. Following the completion of the transaction, the chief financial officer now owns 150,262 shares in the company, valued at approximately $11,849,661.32. The disclosure for this sale can be found here. In the last three months, insiders sold 32,476 shares of company stock valued at $2,547,161. Company insiders own 1.95% of the company’s stock.

Institutional Trading of Blackbaud

Several large investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC bought a new stake in Blackbaud during the 1st quarter worth about $720,000. Campbell & CO Investment Adviser LLC boosted its position in shares of Blackbaud by 217.7% during the fourth quarter. Campbell & CO Investment Adviser LLC now owns 24,935 shares of the technology company’s stock worth $2,162,000 after purchasing an additional 17,086 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of Blackbaud by 5.1% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 264,816 shares of the technology company’s stock valued at $19,633,000 after buying an additional 12,881 shares during the period. Norges Bank bought a new stake in shares of Blackbaud in the 4th quarter valued at $43,589,000. Finally, Envestnet Portfolio Solutions Inc. acquired a new stake in shares of Blackbaud in the fourth quarter valued at approximately $207,000. 94.21% of the stock is owned by institutional investors.

Blackbaud Stock Performance

Shares of BLKB stock traded down $1.22 during trading hours on Thursday, reaching $78.16. 230,898 shares of the company’s stock were exchanged, compared to its average volume of 252,131. Blackbaud has a fifty-two week low of $64.32 and a fifty-two week high of $88.56. The business has a fifty day moving average price of $77.25 and a 200-day moving average price of $76.41. The stock has a market capitalization of $4.04 billion, a P/E ratio of 190.54 and a beta of 1.01. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 1.91.

Blackbaud (NASDAQ:BLKB) last posted 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. Blackbaud had a net margin of 3.64% and a return on equity of 17.65%. The firm had revenue of $287.29 million for the quarter, compared to the consensus estimate of $289.26 million. During the same quarter in the previous year, the company earned $0.49 earnings per share. The business’s revenue was up 6.0% compared to the same quarter last year. Analysts predict that Blackbaud will post 2.27 EPS for the current fiscal 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.