Blackbaud, Inc. (NASDAQ:BLKB) Short Interest Down 8.1% in July

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

Insiders Place Their Bets

In other news, EVP David J. Benjamin sold 1,768 shares of the business’s stock in a transaction that occurred 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 owns 57,739 shares in the company, valued at $4,474,772.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, SVP Jon W. Olson sold 3,000 shares of the company’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $78.63, for a total value of $235,890.00. Following the transaction, the senior vice president now owns 33,628 shares in the company, valued at approximately $2,644,169.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP David J. Benjamin sold 1,768 shares of the stock in a transaction that occurred on 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 sale, the executive vice president now directly owns 57,739 shares of the company’s stock, valued at $4,474,772.50. The disclosure for this sale can be found here. Insiders sold a total of 32,476 shares of company stock worth $2,547,161 over the last ninety days. 1.95% of the stock is currently owned by company insiders.

Institutional Trading of Blackbaud

Institutional investors and hedge funds have recently made changes to their positions in the stock. Norges Bank acquired a new stake in Blackbaud in the 4th quarter worth approximately $43,589,000. Public Employees Retirement Association of Colorado grew its stake in Blackbaud by 1,371.9% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 340,098 shares of the technology company’s stock valued at $29,486,000 after buying an additional 316,992 shares during the last quarter. Clearbridge Investments LLC acquired a new position in Blackbaud in the 4th quarter valued at $23,010,000. Geneva Capital Management LLC raised its holdings in Blackbaud by 12.7% in the 1st quarter. Geneva Capital Management LLC now owns 1,195,891 shares of the technology company’s stock worth $88,663,000 after acquiring an additional 135,103 shares during the period. Finally, Wellington Management Group LLP lifted its position in Blackbaud by 20.4% during the 4th quarter. Wellington Management Group LLP now owns 456,432 shares of the technology company’s stock worth $39,573,000 after acquiring an additional 77,348 shares during the last quarter. Institutional investors and hedge funds own 94.21% of the company’s stock.

Blackbaud Stock Up 0.4 %

Shares of NASDAQ BLKB traded up $0.35 during trading hours on Tuesday, hitting $80.36. The stock had a trading volume of 277,134 shares, compared to its average volume of 252,015. The company has a market capitalization of $4.15 billion, a P/E ratio of 195.69 and a beta of 1.01. The firm’s 50-day moving average price is $77.24 and its two-hundred day moving average price is $76.44. The company has a debt-to-equity ratio of 1.91, a quick ratio of 0.67 and a current ratio of 0.67. Blackbaud has a 52 week low of $64.32 and a 52 week high of $88.56.

Blackbaud (NASDAQ:BLKB) last issued 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 net margin of 1.94% and a return on equity of 16.66%. The firm had revenue of $279.25 million during the quarter, compared to analysts’ expectations of $282.22 million. Analysts anticipate that Blackbaud will post 2.27 EPS for the current fiscal year.

Analysts Set New Price Targets

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

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.