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

Blackbaud, Inc. (NASDAQ:BLKB) was the target of a large growth in short interest in 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. Currently, 2.4% of the shares of the stock are sold short. Based on an average trading volume of 277,800 shares, the short-interest ratio is currently 3.4 days.

Wall Street Analyst Weigh In

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

Institutional Investors Weigh In On Blackbaud

Hedge funds have recently added to or reduced their stakes in the company. Vestcor Inc purchased a new position in shares of Blackbaud during the 4th quarter valued at about $75,000. TD Private Client Wealth LLC raised its position in Blackbaud by 42.0% in the 3rd 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 during the period. KBC Group NV lifted its stake in Blackbaud by 33.9% in the fourth quarter. KBC Group NV now owns 1,676 shares of the technology company’s stock worth $124,000 after purchasing an additional 424 shares during the last quarter. Huntington National Bank lifted its stake in Blackbaud by 13.9% in the fourth quarter. Huntington National Bank now owns 1,864 shares of the technology company’s stock worth $138,000 after purchasing an additional 227 shares during the last quarter. Finally, Blue Trust Inc. boosted its position in Blackbaud by 20.9% during the fourth quarter. Blue Trust Inc. now owns 1,930 shares of the technology company’s stock valued at $143,000 after buying an additional 333 shares during the period. Institutional investors own 94.21% of the company’s stock.

Blackbaud Price Performance

Shares of NASDAQ BLKB traded up $0.08 during midday trading on Monday, hitting $62.19. 34,964 shares of the company’s stock were exchanged, compared to its average volume of 232,671. The company has a current ratio of 0.78, a quick ratio of 0.68 and a debt-to-equity ratio of 7.40. The business’s fifty day moving average price is $70.60 and its two-hundred day moving average price is $77.47. The company has a market cap of $3.06 billion, a price-to-earnings ratio of -10.57 and a beta of 1.08. Blackbaud has a 12-month low of $61.23 and a 12-month high of $88.95.

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