SolarWinds (NYSE:SWI) Coverage Initiated by Analysts at Wedbush

Wedbush started coverage on shares of SolarWinds (NYSE:SWI) in a research note published on Thursday morning, Marketbeat reports. The firm issued an outperform rating and a $20.00 price objective on the software maker’s stock.

Several other research firms have also commented on SWI. Robert W. Baird increased their target price on shares of SolarWinds from $14.00 to $15.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. Scotiabank began coverage on SolarWinds in a research report on Friday, September 13th. They set a “sector perform” rating and a $13.00 price objective for the company. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $15.00.

SolarWinds Stock Performance

Shares of NYSE SWI opened at $14.28 on Thursday. SolarWinds has a 1 year low of $10.14 and a 1 year high of $14.94. The firm has a market cap of $2.44 billion, a P/E ratio of 64.91 and a beta of 0.96. The stock has a fifty day moving average price of $13.45 and a two-hundred day moving average price of $12.64. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.71 and a current ratio of 0.71.

SolarWinds (NYSE:SWI) last announced its earnings results on Thursday, October 31st. The software maker reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.02. SolarWinds had a return on equity of 7.96% and a net margin of 4.93%. The business had revenue of $200.03 million during the quarter, compared to analysts’ expectations of $194.03 million. During the same quarter last year, the business posted $0.11 earnings per share. The company’s quarterly revenue was up 5.5% on a year-over-year basis. Research analysts forecast that SolarWinds will post 0.74 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Sudhakar Ramakrishna sold 200,000 shares of the company’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $13.68, for a total value of $2,736,000.00. Following the transaction, the chief executive officer now directly owns 2,212,171 shares of the company’s stock, valued at approximately $30,262,499.28. This represents a 8.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jason Bliss sold 135,000 shares of SolarWinds stock in a transaction on Monday, November 4th. The shares were sold at an average price of $13.02, for a total value of $1,757,700.00. Following the sale, the insider now directly owns 838,789 shares of the company’s stock, valued at approximately $10,921,032.78. The trade was a 13.86 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 351,000 shares of company stock worth $4,703,780. Corporate insiders own 1.95% of the company’s stock.

Institutional Investors Weigh In On SolarWinds

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC lifted its position in SolarWinds by 24.6% in the third quarter. Allspring Global Investments Holdings LLC now owns 5,071 shares of the software maker’s stock worth $66,000 after purchasing an additional 1,001 shares during the period. Quantinno Capital Management LP lifted its holdings in shares of SolarWinds by 2.5% during the 3rd quarter. Quantinno Capital Management LP now owns 48,198 shares of the software maker’s stock worth $629,000 after acquiring an additional 1,184 shares during the period. GAMMA Investing LLC boosted its position in shares of SolarWinds by 344.7% during the 3rd quarter. GAMMA Investing LLC now owns 2,068 shares of the software maker’s stock valued at $27,000 after acquiring an additional 1,603 shares in the last quarter. Franklin Resources Inc. increased its stake in SolarWinds by 6.2% in the third quarter. Franklin Resources Inc. now owns 29,995 shares of the software maker’s stock valued at $386,000 after acquiring an additional 1,760 shares during the period. Finally, Banque Cantonale Vaudoise lifted its stake in SolarWinds by 1.2% during the second quarter. Banque Cantonale Vaudoise now owns 156,382 shares of the software maker’s stock worth $1,884,000 after purchasing an additional 1,793 shares during the period. 93.96% of the stock is owned by hedge funds and other institutional investors.

About SolarWinds

SolarWinds Corporation provides information technology (IT) management software products in the United States and internationally. It provides a suite of network management software that offers real-time visibility into network utilization and bandwidth, as well as the ability to detect, diagnose, and resolve network performance problems; and a suite of infrastructure management products, which monitors and analyzes the performance of applications and their supporting infrastructure, including servers, physical, virtual and cloud infrastructure, storage, and databases.