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

Blackbaud, Inc. (NASDAQ:BLKB - Get Free Report) saw a significant 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. Based on an average daily volume of 277,800 shares, the days-to-cover ratio is currently 3.4 days. Approximately 2.4% of the company's shares are short sold.

Blackbaud Trading Up 0.5 %

Blackbaud stock traded up $0.34 during trading on Wednesday, hitting $63.82. The company had a trading volume of 338,712 shares, compared to its average volume of 234,291. The stock has a market cap of $3.14 billion, a price-to-earnings ratio of -10.82 and a beta of 1.08. The company has a current ratio of 0.78, a quick ratio of 0.68 and a debt-to-equity ratio of 7.40. Blackbaud has a 1-year low of $61.20 and a 1-year high of $88.95. The company's 50 day simple moving average is $69.71 and its 200-day simple moving average is $77.09.

Blackbaud (NASDAQ:BLKB - Get Free Report) last issued its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.58 earnings per share for the quarter, missing analysts' consensus estimates of $1.08 by ($0.50). Blackbaud had a negative net margin of 24.83% and a positive return on equity of 26.30%. The firm had revenue of $302.23 million during the quarter, compared to analyst estimates of $303.41 million. As a group, analysts expect that Blackbaud will post 3.05 EPS for the current fiscal year.

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Institutional Trading of Blackbaud

Several hedge funds have recently made changes to their positions in the business. Charles Schwab Investment Management Inc. lifted its holdings in Blackbaud by 0.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 410,375 shares of the technology company's stock worth $34,751,000 after buying an additional 2,934 shares in the last quarter. Citigroup Inc. boosted its holdings in Blackbaud by 37.8% in the third quarter. Citigroup Inc. now owns 72,036 shares of the technology company's stock valued at $6,100,000 after purchasing an additional 19,749 shares during the period. BNP Paribas Financial Markets grew its stake in Blackbaud by 17.3% during the 3rd quarter. BNP Paribas Financial Markets now owns 23,948 shares of the technology company's stock worth $2,028,000 after purchasing an additional 3,533 shares in the last quarter. Glenmede Trust Co. NA increased its holdings in Blackbaud by 13.4% during the 3rd quarter. Glenmede Trust Co. NA now owns 7,169 shares of the technology company's stock worth $607,000 after purchasing an additional 846 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its position in Blackbaud by 49.0% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 21,600 shares of the technology company's stock valued at $1,829,000 after purchasing an additional 7,100 shares in the last quarter. Institutional investors and hedge funds own 94.21% of the company's stock.

Analyst Ratings Changes

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

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.