Short Interest Coverage: Blackbaud Incorporated (NASDAQ:BLKB) Just Reported Increased Shorts

November 25, 2016 - By Richard Conner   ·   0 Comments

Short Interest Coverage: Blackbaud Incorporated (NASDAQ:BLKB) Just Reported Increased Shorts

The stock of Blackbaud Incorporated (NASDAQ:BLKB) registered an increase of 7.34% in short interest. BLKB’s total short interest was 3.97 million shares in November as published by FINRA. Its up 7.34% from 3.70M shares, reported previously. With 264,900 shares average volume, it will take short sellers 15 days to cover their BLKB’s short positions. The short interest to Blackbaud Incorporated’s float is 8.78%. The stock decreased 0.60% or $0.38 during the last trading session, hitting $63.46. About 143,915 shares traded hands. Blackbaud, Inc. (NASDAQ:BLKB) has declined 0.76% since April 22, 2016 and is downtrending. It has underperformed by 6.17% the S&P500.

Blackbaud, Inc. is a provider of software and services for the global philanthropic community. The company has a market cap of $2.86 billion. The Company’s divisions include the General Markets Business Unit , the Enterprise Customer Business Unit (the ECBU) and the International Business Unit (the IBU). It has a 97.82 P/E ratio. The GMBU is focused on marketing, sales, delivery and support to all emerging and mid-sized prospects and clients in North America.

Insitutional Activity: The institutional sentiment increased to 1.38 in Q2 2016. Its up 0.27, from 1.11 in 2016Q1. The ratio is positive, as 26 funds sold all Blackbaud, Inc. shares owned while 63 reduced positions. 24 funds bought stakes while 75 increased positions. They now own 47.90 million shares or 2.69% less from 49.23 million shares in 2016Q1.
Moreover, State Bank Of America De has 0.01% invested in Blackbaud, Inc. (NASDAQ:BLKB) for 470,001 shares. Rgm Cap Ltd Limited Liability Company has 665,354 shares for 5.43% of their US portfolio. Moreover, Ami Asset Corporation has 0.33% invested in Blackbaud, Inc. (NASDAQ:BLKB) for 69,782 shares. Amalgamated Bank reported 5,449 shares or 0.02% of all its holdings. Blackrock Grp Inc Limited last reported 65,872 shares in the company. State Street Corporation, a Massachusetts-based fund reported 1.03M shares. Macquarie Group Inc Limited holds 0.2% of its portfolio in Blackbaud, Inc. (NASDAQ:BLKB) for 1.54 million shares. Walleye Trading Limited Liability Corporation holds 0% of its portfolio in Blackbaud, Inc. (NASDAQ:BLKB) for 896 shares. Envestnet Asset Inc, a Illinois-based fund reported 33,424 shares. State Farm Mutual Automobile Insur has 68,200 shares for 0.01% of their US portfolio. Moreover, Paradigm Asset Management Llc has 0% invested in Blackbaud, Inc. (NASDAQ:BLKB) for 16,250 shares. The Florida-based Sawgrass Asset Mngmt Lc has invested 0.01% in Blackbaud, Inc. (NASDAQ:BLKB). Neuberger Berman Gp Limited Liability Corp accumulated 4,941 shares or 0% of the stock. Virginia Retirement Sys Et Al owns 15,100 shares or 0.02% of their US portfolio. Alliancebernstein Limited Partnership holds 0.04% of its portfolio in Blackbaud, Inc. (NASDAQ:BLKB) for 625,207 shares.

Insider Transactions: Since May 31, 2016, the stock had 0 insider purchases, and 14 insider sales for $3.79 million net activity. Shares for $304,896 were sold by Cumbaa Charles T. The insider CHOU TIMOTHY C K sold 2,931 shares worth $202,239. $364,632 worth of Blackbaud, Inc. (NASDAQ:BLKB) shares were sold by BOOR ANTHONY W. $100,880 worth of Blackbaud, Inc. (NASDAQ:BLKB) was sold by Nash Sarah E. The insider MISTRETTA JOHN J sold 2,255 shares worth $157,850. $40,866 worth of Blackbaud, Inc. (NASDAQ:BLKB) was sold by Nelson Joyce on Tuesday, August 23. ELLIS GEORGE H had sold 1,500 shares worth $94,260 on Wednesday, November 9.

Blackbaud, Inc. (NASDAQ:BLKB) Ratings Coverage

Out of 9 analysts covering Blackbaud Inc (NASDAQ:BLKB), 6 rate it a “Buy”, 1 “Sell”, while 2 “Hold”. This means 67% are positive. Blackbaud Inc has been the topic of 12 analyst reports since October 13, 2015 according to StockzIntelligence Inc. Benchmark initiated Blackbaud, Inc. (NASDAQ:BLKB) on Thursday, November 19 with “Buy” rating. The stock of Blackbaud, Inc. (NASDAQ:BLKB) earned “Underperform” rating by Bank of America on Wednesday, November 23. Wunderlich initiated the stock with “Buy” rating in Thursday, February 18 report. On Thursday, June 30 the stock rating was maintained by Stifel Nicolaus with “Buy”. The rating was initiated by Robert W. Baird with “Outperform” on Thursday, December 10. The firm has “Sector Weight” rating given on Tuesday, March 22 by Pacific Crest. The rating was initiated by Evercore with “Hold” on Monday, June 27. On Wednesday, January 6 the stock rating was initiated by Bank of America with “Neutral”. The firm has “Neutral” rating by B. Riley & Co given on Tuesday, October 13.

BLKB Company Profile

Blackbaud, Inc., incorporated on March 22, 2004, is a well-known provider of software and services for the global philanthropic community. The Company’s divisions include the General Markets Business Unit (the GMBU), the Enterprise Customer Business Unit (the ECBU) and the International Business Unit (the IBU). The GMBU is focused on marketing, sales, delivery and support to all emerging and mid-sized prospects and clients in North America. The ECBU is focused on marketing, sales, delivery and support to all large and/or strategic prospects and clients in North America. The IBU is focused on marketing, sales, delivery and support to all prospects and clients outside of North America. It operates in four geographic regions: United States, Canada, Europe and Australia. The Company’s clients use its cloud and on-premises software solutions and related services to help manage donations, fundraising costs, communications with constituents and manage their finances. The Company’s solutions are designed to meet the needs of non-profits, foundations and other charitable giving organizations, and academic institutions, from large, multi-national organizations to small, emerging entities.

More recent Blackbaud, Inc. (NASDAQ:BLKB) news were published by: Fool.com which released: “Blackbaud, Inc. Delivers “Sky” High Revenue Growth” on April 28, 2016. Also Fool.com published the news titled: “Blackbaud, Inc. Earnings Continue to Soar Into the Cloud” on August 02, 2016. Prnewswire.com‘s news article titled: “Blackbaud’s Cultural Management Solution Sees Dramatic Momentum with Arts …” with publication date: November 17, 2016 was also an interesting one.

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By Richard Conner


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