• The company, like so many other software solution providers, is moving to the cloud and this process is well underway.
• The company has a leading market position, but it is suffering from slowing growth.
• In order to arrest the slowdown in growth, it is investing heavily but returns on that aren’t really materializing before 2020.
• We think the shares are fully priced, for now.

Source: Blackbaud Is Boosting Investment To Revive Growth – Blackbaud, Inc. (NASDAQ:BLKB) | Seeking Alpha