Blackbaud, Inc. (NASDAQ:BLKB) Short Interest Up 11.7% in August

Blackbaud, Inc. (NASDAQ:BLKB) was the recipient of a significant increase in short interest during the month of August. As of August 31st, there was short interest totalling 570,000 shares, an increase of 11.7% from the August 15th total of 510,300 shares. Currently, 1.4% of the company’s shares are short sold. Based on an average daily volume of 208,400 shares, the short-interest ratio is currently 2.7 days.

Insider Transactions at Blackbaud

In other Blackbaud news, 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 completion of the sale, the executive vice president now directly owns 67,012 shares of the company’s stock, valued at approximately $5,561,996. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, COO Kevin P. Gregoire sold 5,000 shares of the firm’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $84.00, for a total value of $420,000.00. Following the sale, the chief operating officer now directly owns 105,715 shares in the company, valued at approximately $8,880,060. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Kevin Mcdearis sold 18,996 shares of the business’s stock in a transaction that occurred 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 transaction, the executive vice president now owns 67,012 shares of the company’s stock, valued at approximately $5,561,996. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 47,938 shares of company stock worth $3,847,373. Insiders own 1.95% of the company’s stock.

Hedge Funds Weigh In On Blackbaud

A number of institutional investors have recently modified their holdings of the stock. DT Investment Partners LLC acquired a new stake in shares of Blackbaud during the 2nd quarter worth approximately $33,000. Quest Partners LLC increased its holdings in 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 buying an additional 413 shares in the last quarter. YHB Investment Advisors Inc. purchased a new stake in shares of Blackbaud during the 1st quarter worth about $54,000. Parallel Advisors LLC grew its position in shares of Blackbaud by 303.3% during the 4th quarter. Parallel Advisors LLC now owns 734 shares of the technology company’s stock valued at $64,000 after acquiring an additional 552 shares during the period. Finally, AXS Investments LLC purchased a new position in shares of Blackbaud in the 4th quarter valued at about $181,000. Hedge funds and other institutional investors own 94.21% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on BLKB shares. Evercore ISI raised Blackbaud to a “hold” rating in a research report on Thursday, August 1st. Robert W. Baird increased their price target on Blackbaud from $88.00 to $92.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st.

Blackbaud Stock Down 0.3 %

NASDAQ:BLKB opened at $84.18 on Wednesday. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.73. Blackbaud has a twelve month low of $64.32 and a twelve month high of $88.56. The company has a market cap of $4.35 billion, a PE ratio of 205.32 and a beta of 1.02. The company’s 50 day moving average is $79.18 and its two-hundred day moving average is $77.00.

Blackbaud (NASDAQ:BLKB) last released its earnings results on Tuesday, July 30th. The technology company reported $1.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.04 by $0.04. The firm had revenue of $287.29 million for the quarter, compared to the consensus estimate of $289.26 million. Blackbaud had a return on equity of 18.54% and a net margin of 3.64%. The firm’s revenue was up 6.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.49 EPS. Analysts anticipate that Blackbaud will post 2.38 EPS for the current year.

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.