Blackbaud, Inc. (NASDAQ:BLKB) Sees Significant Increase in Short Interest

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

Hedge Funds Weigh In On Blackbaud

Several hedge funds have recently modified their holdings of the stock. Xponance Inc. lifted its holdings in shares of Blackbaud by 2.4% in the fourth quarter. Xponance Inc. now owns 5,638 shares of the technology company’s stock worth $417,000 after buying an additional 130 shares in the last quarter. Heritage Family Offices LLP raised its stake in Blackbaud by 5.9% during the fourth quarter. Heritage Family Offices LLP now owns 2,985 shares of the technology company’s stock valued at $221,000 after purchasing an additional 166 shares in the last quarter. Huntington National Bank raised its stake in Blackbaud by 13.9% during the fourth quarter. Huntington National Bank now owns 1,864 shares of the technology company’s stock valued at $138,000 after purchasing an additional 227 shares in the last quarter. Brookstone Capital Management raised its stake in Blackbaud by 3.7% during the fourth quarter. Brookstone Capital Management now owns 7,612 shares of the technology company’s stock valued at $563,000 after purchasing an additional 275 shares in the last quarter. Finally, Blue Trust Inc. raised its stake 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. Hedge funds and other institutional investors own 94.21% of the company’s stock.

Blackbaud Stock Up 1.7 %

BLKB opened at $64.51 on Tuesday. The company has a quick ratio of 0.68, a current ratio of 0.78 and a debt-to-equity ratio of 7.40. The firm has a 50 day moving average price of $72.92 and a 200-day moving average price of $78.69. Blackbaud has a twelve month low of $62.99 and a twelve month high of $88.95. The stock has a market capitalization of $3.18 billion, a price-to-earnings ratio of -10.93 and a beta of 1.08.

Blackbaud (NASDAQ:BLKB) last announced its earnings results on Tuesday, February 18th. The technology company reported $0.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.08 by ($0.50). The business had revenue of $302.23 million for the quarter, compared to the consensus estimate of $303.41 million. Blackbaud had a negative net margin of 24.83% and a positive return on equity of 26.30%. Equities research analysts forecast that Blackbaud will post 3.05 earnings per share for the current year.

Analyst Ratings Changes

Separately, Robert W. Baird cut their price target on shares of 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 MarketBeat, Blackbaud presently has a consensus 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.