Vaughan Nelson Investment Management L.P. cut its holdings in shares of SolarWinds Co. (NYSE:SWI) by 54.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 742,088 shares of the software maker’s stock after selling 887,452 shares during the period. Vaughan Nelson Investment Management L.P. owned about 0.24% of SolarWinds worth $15,093,000 at the end of the most recent quarter.
A number of other large investors have also bought and sold shares of the stock. First Trust Advisors LP increased its stake in SolarWinds by 0.4% during the 1st quarter. First Trust Advisors LP now owns 259,763 shares of the software maker’s stock valued at $5,071,000 after purchasing an additional 954 shares in the last quarter. Wells Fargo & Company MN boosted its holdings in shares of SolarWinds by 33.8% in the 1st quarter. Wells Fargo & Company MN now owns 12,255 shares of the software maker’s stock worth $192,000 after buying an additional 3,098 shares during the last quarter. Advisor Group Holdings Inc. bought a new stake in SolarWinds in the 1st quarter valued at about $27,000. Davy Global Fund Management Ltd bought a new stake in SolarWinds in the 2nd quarter valued at about $306,000. Finally, Strs Ohio raised its stake in SolarWinds by 88.9% in the 2nd quarter. Strs Ohio now owns 67,557 shares of the software maker’s stock valued at $1,193,000 after acquiring an additional 31,797 shares during the period. Institutional investors and hedge funds own 96.33% of the company’s stock.
A number of brokerages recently issued reports on SWI. Morgan Stanley boosted their price objective on SolarWinds from $20.00 to $21.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 28th. Zacks Investment Research upgraded SolarWinds from a “hold” rating to a “buy” rating and set a $22.00 price objective on the stock in a research note on Friday, August 14th. JMP Securities upped their price target on SolarWinds from $22.00 to $25.00 and gave the company a “market outperform” rating in a research report on Wednesday, October 28th. Berenberg Bank began coverage on SolarWinds in a research report on Wednesday, October 7th. They set a “buy” rating and a $26.00 price target on the stock. Finally, Jefferies Financial Group upped their price target on SolarWinds from $19.00 to $22.00 and gave the company a “buy” rating in a research report on Friday, August 7th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $21.83.
In other SolarWinds news, Director James K. Lines sold 18,333 shares of the company’s stock in a transaction that occurred on Monday, August 31st. The stock was sold at an average price of $21.12, for a total value of $387,192.96. Following the completion of the sale, the director now owns 90,121 shares of the company’s stock, valued at $1,903,355.52. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP David Gardiner sold 57,251 shares of the company’s stock in a transaction that occurred on Monday, November 9th. The stock was sold at an average price of $22.47, for a total value of $1,286,429.97. Following the completion of the sale, the executive vice president now directly owns 726,171 shares of the company’s stock, valued at approximately $16,317,062.37. The disclosure for this sale can be found here. 1.60% of the stock is owned by corporate insiders.
SWI stock opened at $22.15 on Tuesday. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.70. The company’s 50 day moving average is $21.36 and its 200 day moving average is $19.41. The stock has a market cap of $6.96 billion, a price-to-earnings ratio of 246.14 and a beta of 1.20. SolarWinds Co. has a 1-year low of $11.50 and a 1-year high of $22.88.
SolarWinds (NYSE:SWI) last posted its quarterly earnings data on Tuesday, October 27th. The software maker reported $0.28 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.21 by $0.07. SolarWinds had a net margin of 3.12% and a return on equity of 9.33%. As a group, sell-side analysts forecast that SolarWinds Co. will post 0.81 EPS for the current fiscal year.
SolarWinds Company Profile
SolarWinds Corporation provides information technology (IT) infrastructure management software products in the United States and internationally. It offers products to monitor and manage network, system, desktop, application, storage, and database and website infrastructures, whether on-premise, in the public or private cloud, or in a hybrid IT infrastructure.
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