Blackbaud, Inc. (NASDAQ:BLKB) Sees Large Growth in Short Interest

Blackbaud, Inc. (NASDAQ:BLKB - Get Free Report) was the target of a large increase in short interest in the month of April. As of April 15th, there was short interest totalling 838,100 shares, an increase of 33.0% from the March 31st total of 630,200 shares. Based on an average trading volume of 295,700 shares, the short-interest ratio is currently 2.8 days. Approximately 2.0% of the company's shares are short sold.

Blackbaud Stock Down 0.4 %

Shares of BLKB stock traded down $0.33 during mid-day trading on Friday, reaching $77.95. 141,967 shares of the company were exchanged, compared to its average volume of 284,995. Blackbaud has a fifty-two week low of $64.32 and a fifty-two week high of $88.56. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.78 and a current ratio of 0.78. The company has a market capitalization of $4.03 billion, a P/E ratio of 2,598.33 and a beta of 1.04. The business's 50 day simple moving average is $73.00 and its 200 day simple moving average is $76.43.

Blackbaud (NASDAQ:BLKB - Get Free Report) last released its quarterly earnings results on Tuesday, February 13th. The technology company reported $1.14 earnings per share for the quarter, topping analysts' consensus estimates of $1.05 by $0.09. Blackbaud had a net margin of 0.16% and a return on equity of 14.59%. The business had revenue of $295.01 million during the quarter, compared to the consensus estimate of $299.04 million. During the same quarter last year, the company earned $0.28 earnings per share. The business's quarterly revenue was up 7.4% compared to the same quarter last year. Research analysts predict that Blackbaud will post 2.35 earnings per share for the current year.

Insider Transactions at Blackbaud

In related news, CEO Michael P. Gianoni sold 5,360 shares of the firm's stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $74.05, for a total value of $396,908.00. Following the transaction, the chief executive officer now owns 413,114 shares in the company, valued at $30,591,091.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, CFO Anthony W. Boor sold 429 shares of the firm's stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $74.00, for a total value of $31,746.00. Following the transaction, the chief financial officer now owns 161,368 shares in the company, valued at $11,941,232. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Michael P. Gianoni sold 5,360 shares of the firm's stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $74.05, for a total transaction of $396,908.00. Following the completion of the transaction, the chief executive officer now owns 413,114 shares in the company, valued at approximately $30,591,091.70. The disclosure for this sale can be found here. Insiders have sold a total of 59,897 shares of company stock worth $4,377,015 in the last three months. Company insiders own 1.89% of the company's stock.

Hedge Funds Weigh In On Blackbaud

Large investors have recently added to or reduced their stakes in the company. Operose Advisors LLC bought a new position in Blackbaud during the third quarter worth $25,000. FSC Wealth Advisors LLC bought a new position in Blackbaud during the third quarter worth $40,000. YHB Investment Advisors Inc. bought a new stake in Blackbaud in the first quarter valued at $54,000. GAMMA Investing LLC bought a new stake in Blackbaud in the fourth quarter valued at $64,000. Finally, Parallel Advisors LLC lifted its stake in Blackbaud by 303.3% in the fourth 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 last quarter. 94.21% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Robert W. Baird lowered their price objective on shares of Blackbaud from $95.00 to $88.00 and set an "outperform" rating for the company in a research report on Wednesday, February 14th. StockNews.com raised shares of Blackbaud from a "hold" rating to a "buy" rating in a research report on Saturday.

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.

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