Blackbaud, Inc. (NASDAQ:BLKB) Short Interest Up 7.2% in December

Blackbaud, Inc. (NASDAQ:BLKB) saw a large increase in short interest during the month of December. As of December 31st, there was short interest totalling 4,040,000 shares, an increase of 7.2% from the December 15th total of 3,770,000 shares. Currently, 8.3% of the company’s stock are short sold. Based on an average daily volume of 222,400 shares, the short-interest ratio is presently 18.2 days.

In other Blackbaud news, Director Sarah E. Nash sold 1,546 shares of the stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $80.66, for a total value of $124,700.36. Following the sale, the director now directly owns 21,836 shares of the company’s stock, valued at approximately $1,761,291.76. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Anthony W. Boor sold 2,050 shares of the stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $80.76, for a total transaction of $165,558.00. Following the completion of the sale, the chief financial officer now directly owns 80,209 shares in the company, valued at $6,477,678.84. The disclosure for this sale can be found here. Over the last three months, insiders sold 3,846 shares of company stock worth $311,288. Insiders own 1.56% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of BLKB. GW&K Investment Management LLC bought a new position in shares of Blackbaud during the third quarter worth about $25,000. Tower Research Capital LLC TRC boosted its position in shares of Blackbaud by 1,097.6% in the second quarter. Tower Research Capital LLC TRC now owns 1,473 shares of the technology company’s stock valued at $123,000 after acquiring an additional 1,350 shares during the period. Private Capital Group LLC lifted its position in Blackbaud by 13.3% in the second quarter. Private Capital Group LLC now owns 1,250 shares of the technology company’s stock worth $128,000 after purchasing an additional 147 shares during the period. World Asset Management Inc bought a new position in Blackbaud in the third quarter worth $207,000. Finally, Stifel Financial Corp bought a new position in Blackbaud in the third quarter worth $250,000.

A number of research analysts recently commented on BLKB shares. BidaskClub raised shares of Blackbaud from a “strong sell” rating to a “sell” rating in a research report on Friday, January 3rd. Stephens set a $92.00 price objective on shares of Blackbaud and gave the stock a “hold” rating in a research report on Friday, October 18th. Finally, ValuEngine downgraded shares of Blackbaud from a “buy” rating to a “hold” rating in a research report on Thursday, October 10th. Two equities research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. The stock has an average rating of “Hold” and an average price target of $90.50.

Shares of BLKB stock traded up $1.30 during mid-day trading on Thursday, hitting $82.17. The stock had a trading volume of 4,288 shares, compared to its average volume of 222,049. Blackbaud has a fifty-two week low of $65.01 and a fifty-two week high of $97.35. The firm has a market cap of $3.94 billion, a PE ratio of 43.81 and a beta of 1.15. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.66 and a quick ratio of 0.66. The company’s 50-day simple moving average is $79.57 and its 200-day simple moving average is $85.72.

Blackbaud (NASDAQ:BLKB) last posted its earnings results on Monday, October 28th. The technology company reported $0.56 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.50 by $0.06. The firm had revenue of $221.10 million during the quarter, compared to the consensus estimate of $219.36 million. Blackbaud had a net margin of 2.25% and a return on equity of 18.97%. The firm’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same period last year, the firm posted $0.59 EPS. On average, analysts expect that Blackbaud will post 1.25 EPS for the current year.

About Blackbaud

Blackbaud, Inc provides cloud software solutions to nonprofits, foundations, companies, education institutions, healthcare organizations, individual change agents, and other charitable giving entities. The company offers fundraising and relationship management solutions and services, including Blackbaud Raiser's Edge NXT, Blackbaud CRM, Blackbaud Luminate CRM, Blackbaud eTapestry, Blackbaud TeamRaiser, everydayhero, Blackbaud Peer-to-Peer Fundraising, and Blackbaud Guided Fundraising; and marketing and engagement solutions, such as Blackbaud Luminate Online, Blackbaud Online Express, Blackbaud NetCommunity, Blackbaud Attentive.ly, and Blackbaud School Website System.

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