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

Blackbaud, Inc. (NASDAQ:BLKB) was the target of a significant growth in short interest in 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. Currently, 1.9% of the shares of the stock are short sold. Based on an average daily volume of 225,600 shares, the short-interest ratio is currently 3.2 days.

Analyst Ratings Changes

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

Institutional Investors Weigh In On Blackbaud

Institutional investors and hedge funds have recently made changes to their positions in the stock. Vestcor Inc purchased a new stake in shares of Blackbaud in the 4th quarter valued at approximately $75,000. TD Private Client Wealth LLC increased its stake in Blackbaud by 42.0% during the 3rd quarter. TD Private Client Wealth LLC now owns 1,174 shares of the technology company’s stock worth $99,000 after buying an additional 347 shares during the period. KBC Group NV increased its stake in Blackbaud by 33.9% during the 4th quarter. KBC Group NV now owns 1,676 shares of the technology company’s stock worth $124,000 after buying an additional 424 shares during the period. Meeder Asset Management Inc. purchased a new stake in Blackbaud during the 3rd quarter worth approximately $142,000. Finally, Huntington National Bank increased its stake in Blackbaud by 13.9% during the 4th quarter. Huntington National Bank now owns 1,864 shares of the technology company’s stock worth $138,000 after buying an additional 227 shares during the period. 94.21% of the stock is owned by hedge funds and other institutional investors.

Blackbaud Stock Performance

NASDAQ:BLKB opened at $63.45 on Monday. The company has a debt-to-equity ratio of 7.40, a current ratio of 0.78 and a quick ratio of 0.68. The firm has a market capitalization of $3.12 billion, a price-to-earnings ratio of -10.75 and a beta of 1.09. The company’s 50-day moving average is $73.13 and its two-hundred day moving average is $78.82. Blackbaud has a 1-year low of $62.99 and a 1-year high of $88.95.

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

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.