It is trading at $90.09 which is marginally over $84.76, the 50 day moving average and barely above the 200 day moving average of $75.29. The 50 day moving average was up $5.33 and the 200 day average was up $14.80. Blackbaud, Inc. shares had a trading volume of 264K on Thursday. Volume was up 9.36% over the stocks average daily volume.
Traders are a little more bearish on the company recently if you take into consideration the increase in short interest. The stock realized a rise in short interest between June 15, 2017 and May 31, 2017 of 2.73%. Short shares grew 164,675 over that timeframe. Days to cover decreased from 25.0 to 22.5 and the percentage of shorted shares was 0.13% on May 31.
Here is the rundown on market activity for Blackbaud, Inc. (NASDAQ:BLKB). John J. Mistretta, EVP disclosed the sale of 3,693 shares of BLKB stock. The shares were sold on May 23rd for a price of $82.00. The EVP now owns $6,172,796 of the stock according to the SEC filing. Director Sarah E. Nash sold 825 shares at an average price of $78.67 on May 17th. Nash now owns $1,624,693 of stock per an SEC filing yesterday.
Kevin W. Mooney, EVP, Pres Gen Markets Group sold $402,986 worth of shares at an average price of $79.11 on Tue the 9th. That brings the EVP, Pres Gen Markets Group’s holdings to $6,801,561 as reported to the SEC.
These firms have also modified their investment in BLKB. Creative Planning grew its ownership by buying 245 shares an increase of 98.8% in the quarter. Creative Planning claims 493 shares with a value of $42,000. The value of the position overall is up by 121.1%. Trust Co Of Vermont expanded its investment by buying 27 shares an increase of 122.7%. Trust Co Of Vermont currently owns 49 shares worth $4,000. The total value of its holdings increased 300.0%.
As of the end of the quarter Gw&k Investment Management, LLC had acquired 38,250 shares growing its stake by 5.1%. The value of the investment in Blackbaud, Inc. went from $57,417,000 to $67,497,000 a change of $10,080,000 quarter to quarter. As of quarter end Daiwa Sb Investments Ltd. had sold a total of 100 shares trimming its position 1.0%. The value in dollars increased from $788,000 to $873,000 increasing 10.8% quarter over quarter.
On November 23 the company was downgraded to “Underperform” from “” by analysts at Bank of America. JMP Securities starting coverage on BLKB with an initial rating of “Outperform”.
On June 27, 2016 Evercore Partners started covering BLKB giving it an initial rating of “Hold”. Equity analyst Pacific Crest issued its first research report on the stock setting a rating of “Sector Weight”.
On February 18 analysts at Wunderlich initiated coverage on the stock with a rating of “Buy”. Equity analyst B. Riley raised the price target and upgraded the stock on December 16 boosting the price target from $65.00 to $75.00 and setting the rating at “Buy” which had previously been “Neutral”.
The company is trading up from yesterday’s close of $88.63. Additionally the company declared a dividend that was paid on Thu Jun 15, 2017. The dividend payment was $0.120 per share for the quarter or $0.48 on an annualized basis. The dividend yield was $0.55. The ex-dividend date was set for Wednesday the 24th of May 2017.
The P/E ratio is currently 91.09 and the market cap of the company is 4.19B. As of the last earnings report the EPS was $0.99 and is projected to be $2.13 for the current year with 46,501,000 shares currently outstanding. Next quarter’s EPS is estimated at $0.53 and the next full year EPS is anticipated to be $2.40.
Blackbaud, Inc., launched on March 22, 2004, is a cloud software company. The Company offers a range of cloud and on-premise solutions, as well as a resource network that empowers and connects organizations of all sizes. The Business’s segments 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 customers in North America. The ECBU is focused on marketing, sales, delivery and support to all large and/or strategic prospects and customers in North America. The IBU is focused on marketing, sales, delivery and support to all prospects and customers outside of North America. It operates in four geographic regions: the United States, Canada, Europe and Australia. The Business’s portfolio of software and services supports nonprofit fundraising and relationship management, digital marketing, advocacy, accounting, payments and analytics, as well as grant management, corporate social responsibility (CSR) and education..