Blackbaud, Inc. (NASDAQ:BLKB) Short Interest Up 25.9% in February

Blackbaud, Inc. (NASDAQ:BLKB) was the target of a large growth in short interest during the month of February. As of February 28th, there was short interest totalling 717,600 shares, a growth of 25.9% from the February 13th total of 570,100 shares. Approximately 1.9% of the company’s shares are short sold. Based on an average daily volume of 225,600 shares, the short-interest ratio is currently 3.2 days.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in BLKB. Xponance Inc. boosted its stake in shares of Blackbaud by 2.4% during the fourth quarter. Xponance Inc. now owns 5,638 shares of the technology company’s stock valued at $417,000 after purchasing an additional 130 shares in the last quarter. Heritage Family Offices LLP lifted its holdings in Blackbaud by 5.9% during the fourth quarter. Heritage Family Offices LLP now owns 2,985 shares of the technology company’s stock worth $221,000 after buying an additional 166 shares during the period. Huntington National Bank boosted its position in Blackbaud by 13.9% during the 4th quarter. Huntington National Bank now owns 1,864 shares of the technology company’s stock valued at $138,000 after acquiring an additional 227 shares in the last quarter. Brookstone Capital Management increased its holdings in shares of Blackbaud by 3.7% in the 4th quarter. Brookstone Capital Management now owns 7,612 shares of the technology company’s stock valued at $563,000 after acquiring an additional 275 shares during the period. Finally, Blue Trust Inc. boosted its position in Blackbaud by 20.9% during the fourth quarter. Blue Trust Inc. now owns 1,930 shares of the technology company’s stock valued at $143,000 after purchasing an additional 333 shares in the last quarter. 94.21% of the stock is currently owned by institutional investors.

Blackbaud Stock Down 1.0 %

Shares of NASDAQ BLKB opened at $63.89 on Wednesday. The company has a market cap of $3.15 billion, a P/E ratio of -10.83 and a beta of 1.08. The firm has a 50-day simple moving average of $72.69 and a two-hundred day simple moving average of $78.55. Blackbaud has a 1 year low of $62.99 and a 1 year high of $88.95. The company has a debt-to-equity ratio of 7.40, a current ratio of 0.78 and a quick ratio of 0.68.

Blackbaud (NASDAQ:BLKB) last posted its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.58 earnings per share (EPS) 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 business had revenue of $302.23 million for the quarter, compared to analysts’ expectations of $303.41 million. Research analysts anticipate that Blackbaud will post 3.05 earnings per share for the current year.

Analyst Ratings Changes

Separately, Robert W. Baird decreased their price target on Blackbaud from $80.00 to $76.00 and set a “neutral” rating on the stock in a report on Wednesday, February 19th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $85.33.

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.