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Why Blackbaud Stock Was Jumping Today

TheMotleyFool

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Why Blackbaud Stock Was Jumping Today: https://g.foolcdn.com/editorial/images/703560/education-technology.jpg

Shares of Blackbaud (NASDAQ: BLKB) were moving higher Tuesday after private equity firm Clearlake Capital disclosed on Monday night that it had taken an 18.4% stake in the education tech company.

As of 1:53 p.m. ET, Tuesday, Blackbaud's stock price was up by 17.3%.

Clearlake's intentions are not clear, but in a 13-D filing with the Securities and Exchange Commission, the activist firm said that it may engage in discussions with Blackbaud's management team, board of directors, or shareholders.

Source Fool.com

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