Blackbaud, Inc. (NASDAQ:BLKB) Short Interest Down 6.4% in May

Blackbaud, Inc. (NASDAQ:BLKBGet Free Report) was the target of a large decrease in short interest in May. As of May 31st, there was short interest totalling 820,600 shares, a decrease of 6.4% from the May 15th total of 876,800 shares. Approximately 2.0% of the shares of the company are short sold. Based on an average daily volume of 250,500 shares, the days-to-cover ratio is presently 3.3 days.

Wall Street Analyst Weigh In

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

Read Our Latest Stock Analysis on Blackbaud

Insider Buying and Selling at Blackbaud

In other Blackbaud news, CFO Anthony W. Boor sold 3,100 shares of the company’s stock in a transaction that occurred on Thursday, April 11th. The shares were sold at an average price of $79.48, for a total transaction of $246,388.00. Following the transaction, the chief financial officer now owns 158,268 shares in the company, valued at approximately $12,579,140.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO Anthony W. Boor sold 3,100 shares of the stock in a transaction on Thursday, April 11th. The shares were sold at an average price of $79.48, for a total value of $246,388.00. Following the sale, the chief financial officer now owns 158,268 shares in the company, valued at $12,579,140.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP David J. Benjamin sold 1,768 shares of the stock in a transaction 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 owns 57,739 shares in the company, valued at approximately $4,474,772.50. The disclosure for this sale can be found here. In the last quarter, insiders have sold 36,468 shares of company stock worth $2,858,894. 1.95% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Blackbaud

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Norges Bank acquired a new stake in Blackbaud during the fourth quarter worth about $43,589,000. Public Employees Retirement Association of Colorado increased its position in Blackbaud by 1,371.9% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 340,098 shares of the technology company’s stock worth $29,486,000 after purchasing an additional 316,992 shares during the last quarter. Clearbridge Investments LLC acquired a new stake in Blackbaud during the fourth quarter worth about $23,010,000. American Century Companies Inc. increased its position in Blackbaud by 499.1% during the third quarter. American Century Companies Inc. now owns 308,034 shares of the technology company’s stock worth $21,661,000 after purchasing an additional 256,619 shares during the last quarter. Finally, Hawk Ridge Capital Management LP increased its position in shares of Blackbaud by 15.6% during the third quarter. Hawk Ridge Capital Management LP now owns 1,484,580 shares of the technology company’s stock valued at $104,396,000 after acquiring an additional 200,000 shares during the last quarter. 94.21% of the stock is owned by hedge funds and other institutional investors.

Blackbaud Stock Performance

NASDAQ BLKB traded down $1.32 during mid-day trading on Tuesday, reaching $75.39. 31,225 shares of the stock were exchanged, compared to its average volume of 259,285. The company has a debt-to-equity ratio of 1.91, a quick ratio of 0.67 and a current ratio of 0.67. The company has a market capitalization of $3.89 billion, a P/E ratio of 187.10 and a beta of 1.03. Blackbaud has a 1 year low of $64.32 and a 1 year high of $88.56. The business’s 50 day moving average is $77.75 and its 200-day moving average is $78.11.

Blackbaud (NASDAQ:BLKBGet Free Report) last posted its quarterly earnings data on Tuesday, April 30th. The technology company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.03. The business had revenue of $279.25 million for the quarter, compared to the consensus estimate of $282.22 million. Blackbaud had a net margin of 1.94% and a return on equity of 16.66%. On average, equities research analysts forecast that Blackbaud will post 2.27 EPS for the current fiscal year.

About Blackbaud

(Get Free Report)

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.

Recommended Stories

Receive News & Ratings for Blackbaud Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Blackbaud and related companies with MarketBeat.com's FREE daily email newsletter.