Blackbaud, Inc. (NASDAQ:BLKB – Get Rating) was the recipient of a large growth in short interest during the month of September. As of September 15th, there was short interest totalling 2,170,000 shares, a growth of 13.6% from the August 31st total of 1,910,000 shares. Approximately 5.4% of the company's stock are sold short. Based on an average daily trading volume, of 394,400 shares, the short-interest ratio is presently 5.5 days.
Blackbaud Stock Performance
Shares of Blackbaud stock traded down $1.01 during trading on Friday, hitting $44.06. 356,765 shares of the stock were exchanged, compared to its average volume of 681,719. The stock has a market capitalization of $2.34 billion, a price-to-earnings ratio of -151.93, a price-to-earnings-growth ratio of 20.23 and a beta of 1.01. The company has a fifty day moving average price of $52.86 and a 200-day moving average price of $56.38. Blackbaud has a 1-year low of $43.54 and a 1-year high of $86.96. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 1.28.
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Blackbaud (NASDAQ:BLKB – Get Rating) last announced its earnings results on Tuesday, August 2nd. The technology company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.19 by $0.13. The business had revenue of $264.93 million during the quarter, compared to the consensus estimate of $266.96 million. Blackbaud had a negative net margin of 1.47% and a positive return on equity of 8.04%. During the same quarter in the previous year, the firm posted $0.32 EPS. As a group, equities analysts predict that Blackbaud will post 0.75 EPS for the current fiscal year.
Insider Buying and Selling at Blackbaud
In other Blackbaud news, Director George H. Ellis sold 1,500 shares of Blackbaud stock in a transaction on Tuesday, August 9th. The shares were sold at an average price of $56.18, for a total value of $84,270.00. Following the sale, the director now directly owns 11,456 shares in the company, valued at approximately $643,598.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through
this link. In other news, Director George H. Ellis sold 1,500 shares of the business's stock in a transaction dated Tuesday, August 9th. The shares were sold at an average price of $56.18, for a total transaction of $84,270.00. Following the transaction, the director now directly owns 11,456 shares in the company, valued at approximately $643,598.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through
the SEC website. Also, COO Kevin P. Gregoire sold 1,800 shares of the business's stock in a transaction dated Thursday, August 11th. The stock was sold at an average price of $57.10, for a total transaction of $102,780.00. Following the transaction, the chief operating officer now owns 98,381 shares in the company, valued at $5,617,555.10. The disclosure for this sale can be found
here. Company insiders own 1.70% of the company's stock.
Institutional Trading of Blackbaud
Several hedge funds and other institutional investors have recently modified their holdings of BLKB. JPMorgan Chase & Co. boosted its holdings in shares of Blackbaud by 6.0% during the 4th quarter. JPMorgan Chase & Co. now owns 139,528 shares of the technology company's stock worth $11,019,000 after buying an additional 7,922 shares during the period. Alliancebernstein L.P. boosted its holdings in Blackbaud by 8.0% in the 4th quarter. Alliancebernstein L.P. now owns 118,280 shares of the technology company's stock valued at $9,342,000 after purchasing an additional 8,804 shares during the period. Schonfeld Strategic Advisors LLC bought a new stake in Blackbaud in the 4th quarter valued at about $10,054,000. Castleview Partners LLC bought a new stake in Blackbaud in the 4th quarter valued at about $236,000. Finally, Washington Harbour Partners LP bought a new stake in Blackbaud in the 4th quarter valued at about $7,851,000. Institutional investors own 98.64% of the company's stock.
Blackbaud Company Profile
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Blackbaud, Inc provides cloud software solutions to higher education institutions, K-12 schools, healthcare organizations, faith communities, arts and cultural organizations, foundations, companies, and individual change agents in the United States and internationally. The company offers fundraising and relationship management solutions, such as Blackbaud Raiser's Edge NXT and Blackbaud CRM, Blackbaud eTapestry, Blackbaud TeamRaiser, JustGiving, and Blackbaud Guided Fundraising and Blackbaud Volunteer Network Fundraising; marketing and engagement solutions, including Blackbaud Luminate Online, Blackbaud Online Express, and Blackbaud School Website System; and financial management solutions comprising Blackbaud Financial Edge NXT, Blackbaud Tuition Management, and Blackbaud Financial Aid Management.
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