Blackbaud, Inc. (NASDAQ:BLKB) Sees Significant Drop in Short Interest

Blackbaud, Inc. (NASDAQ:BLKB) saw a significant 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. Approximately 1.4% of the company’s stock are short sold. Based on an average daily trading volume, of 218,300 shares, the days-to-cover ratio is presently 2.6 days.

Blackbaud Stock Up 0.4 %

BLKB traded up $0.35 on Tuesday, hitting $80.36. 277,134 shares of the company were exchanged, compared to its average volume of 252,015. The stock’s fifty day moving average is $77.24 and its 200-day moving average is $76.44. Blackbaud has a 12 month low of $64.32 and a 12 month high of $88.56. The company has a debt-to-equity ratio of 1.91, a quick ratio of 0.67 and a current ratio of 0.67. The company has a market cap of $4.15 billion, a PE ratio of 195.69 and a beta of 1.01.

Blackbaud (NASDAQ:BLKB) last announced its quarterly earnings data on Tuesday, April 30th. The technology company reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.03. Blackbaud had a return on equity of 16.66% and a net margin of 1.94%. The company had revenue of $279.25 million for the quarter, compared to analysts’ expectations of $282.22 million. Equities research analysts predict that Blackbaud will post 2.27 EPS for the current fiscal year.

Insider Activity

In related news, EVP David J. Benjamin sold 1,768 shares of the firm’s stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $77.50, for a total transaction of $137,020.00. Following the sale, the executive vice president now directly owns 57,739 shares in the company, valued at $4,474,772.50. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, EVP David J. Benjamin sold 1,768 shares of the stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $77.50, for a total transaction of $137,020.00. Following the completion of the transaction, the executive vice president now directly owns 57,739 shares in the company, valued at $4,474,772.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Anthony W. Boor sold 1,106 shares of Blackbaud stock in a transaction that occurred on Friday, May 24th. The shares were 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 approximately $11,849,661.32. The disclosure for this sale can be found here. Insiders sold 32,476 shares of company stock worth $2,547,161 over the last quarter. 1.95% of the stock is currently owned by company insiders.

Institutional Trading of Blackbaud

Large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of Blackbaud by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 5,646,203 shares of the technology company’s stock worth $418,609,000 after purchasing an additional 71,619 shares during the last quarter. Janus Henderson Group PLC increased its position in Blackbaud by 1.9% during the first quarter. Janus Henderson Group PLC now owns 2,840,576 shares of the technology company’s stock worth $210,599,000 after buying an additional 53,057 shares during the last quarter. Geneva Capital Management LLC raised its stake in Blackbaud by 12.7% in the first quarter. Geneva Capital Management LLC now owns 1,195,891 shares of the technology company’s stock valued at $88,663,000 after buying an additional 135,103 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Blackbaud by 2.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,028,181 shares of the technology company’s stock valued at $89,145,000 after buying an additional 24,910 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Blackbaud during the 4th quarter worth approximately $43,589,000. Institutional investors and hedge funds own 94.21% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded shares of Blackbaud from a “hold” rating to a “buy” rating in a research note on Wednesday, May 8th.

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.