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

Blackbaud, Inc. (NASDAQ:BLKB - Get Free Report) was the target of a large drop in short interest in the month of December. As of December 15th, there was short interest totalling 613,200 shares, a drop of 6.8% from the November 30th total of 657,800 shares. Based on an average daily trading volume, of 203,900 shares, the days-to-cover ratio is currently 3.0 days. Approximately 1.5% of the shares of the stock are short sold.

Insider Buying and Selling

In other news, CEO Michael P. Gianoni sold 9,479 shares of Blackbaud stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $88.13, for a total value of $835,384.27. Following the completion of the transaction, the chief executive officer now owns 344,079 shares in the company, valued at approximately $30,323,682.27. The trade was a 2.68 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Sarah E. Nash sold 3,100 shares of the stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $83.98, for a total value of $260,338.00. Following the sale, the director now owns 23,723 shares in the company, valued at approximately $1,992,257.54. This trade represents a 11.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 43,923 shares of company stock worth $3,737,450 in the last 90 days. 1.95% of the stock is owned by company insiders.

Institutional Investors Weigh In On Blackbaud

Large investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. grew its holdings in shares of Blackbaud by 3.2% during the third quarter. JPMorgan Chase & Co. now owns 225,634 shares of the technology company's stock worth $19,107,000 after buying an additional 7,097 shares in the last quarter. 272 Capital LP bought a new position in shares of Blackbaud during the 3rd quarter worth approximately $872,000. Franklin Resources Inc. raised its holdings in shares of Blackbaud by 3.7% in the third quarter. Franklin Resources Inc. now owns 15,024 shares of the technology company's stock valued at $1,261,000 after purchasing an additional 532 shares during the last quarter. TD Private Client Wealth LLC lifted its position in shares of Blackbaud by 42.0% in the third 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 in the last quarter. Finally, Teachers Retirement System of The State of Kentucky boosted its holdings in Blackbaud by 52.0% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 56,336 shares of the technology company's stock worth $4,770,000 after purchasing an additional 19,270 shares during the last quarter. Institutional investors own 94.21% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Baird R W downgraded shares of Blackbaud from a "strong-buy" rating to a "hold" rating in a research report on Thursday, October 31st. Raymond James reduced their target price on shares of Blackbaud from $98.00 to $95.00 and set an "outperform" rating on the stock in a research report on Monday, October 7th. Stifel Nicolaus increased their price target on shares of Blackbaud from $80.00 to $85.00 and gave the company a "hold" rating in a research note on Thursday, September 26th. Finally, Robert W. Baird cut shares of Blackbaud from an "outperform" rating to a "neutral" rating and dropped their price objective for the stock from $92.00 to $80.00 in a research report on Thursday, October 31st. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $86.67.

Blackbaud Trading Up 0.2 %

Shares of BLKB stock traded up $0.12 on Tuesday, hitting $73.92. The stock had a trading volume of 156,310 shares, compared to its average volume of 229,489. The company has a fifty day moving average price of $81.35 and a two-hundred day moving average price of $80.39. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 1.79. The firm has a market cap of $3.75 billion, a P/E ratio of 72.47 and a beta of 1.06. Blackbaud has a twelve month low of $66.47 and a twelve month high of $88.95.

Blackbaud (NASDAQ:BLKB - Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The technology company reported $0.99 EPS for the quarter, missing analysts' consensus estimates of $1.07 by ($0.08). Blackbaud had a return on equity of 20.34% and a net margin of 4.61%. The business had revenue of $286.70 million for the quarter, compared to analyst estimates of $293.74 million. During the same period in the prior year, the business earned $0.65 EPS. The company's revenue for the quarter was up 3.3% compared to the same quarter last year. As a group, analysts forecast that Blackbaud will post 2.6 earnings per share for the current fiscal year.

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.