Connor Clark & Lunn Investment Management Ltd. Increases Stock Position in SolarWinds Co. (NYSE:SWI)

Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of SolarWinds Co. (NYSE:SWI) by 4.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 566,204 shares of the software maker’s stock after purchasing an additional 25,416 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned 0.33% of SolarWinds worth $7,389,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Boston Partners purchased a new position in shares of SolarWinds in the 1st quarter worth approximately $1,084,000. Brandes Investment Partners LP boosted its position in SolarWinds by 12.3% in the second quarter. Brandes Investment Partners LP now owns 371,636 shares of the software maker’s stock worth $4,424,000 after purchasing an additional 40,643 shares during the last quarter. 272 Capital LP bought a new position in SolarWinds in the 2nd quarter valued at $5,032,000. Dimensional Fund Advisors LP increased its position in shares of SolarWinds by 8.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 5,776,309 shares of the software maker’s stock valued at $69,603,000 after purchasing an additional 461,061 shares during the last quarter. Finally, AQR Capital Management LLC raised its stake in shares of SolarWinds by 48.5% during the 2nd quarter. AQR Capital Management LLC now owns 825,829 shares of the software maker’s stock worth $9,869,000 after purchasing an additional 269,578 shares during the period. 93.96% of the stock is owned by institutional investors.

Analysts Set New Price Targets

SWI has been the topic of several research reports. Scotiabank initiated coverage on shares of SolarWinds in a research report on Friday, September 13th. They issued a “sector perform” rating and a $13.00 price objective on the stock. Robert W. Baird lifted their price target on shares of SolarWinds from $14.00 to $15.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Five equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $14.00.

SolarWinds Price Performance

SWI opened at $13.27 on Friday. The firm has a 50-day moving average price of $12.98 and a 200-day moving average price of $12.35. SolarWinds Co. has a twelve month low of $10.14 and a twelve month high of $14.02. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.88. The company has a market capitalization of $2.26 billion, a price-to-earnings ratio of 60.30 and a beta of 0.96.

SolarWinds (NYSE:SWI) last released its quarterly earnings data on Thursday, October 31st. The software maker reported $0.27 EPS for the quarter, topping the consensus estimate of $0.25 by $0.02. The company had revenue of $200.03 million during the quarter, compared to the consensus estimate of $194.03 million. SolarWinds had a net margin of 4.93% and a return on equity of 7.96%. SolarWinds’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same period last year, the firm earned $0.11 EPS. Equities analysts expect that SolarWinds Co. will post 0.74 EPS for the current year.

Insiders Place Their Bets

In other SolarWinds news, insider Jason Bliss sold 135,000 shares of the stock in a transaction that occurred 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 in the company, valued at $10,921,032.78. This represents a 13.86 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director William G. Bock sold 16,000 shares of the business’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $13.13, for a total transaction of $210,080.00. Following the transaction, the director now owns 88,857 shares of the company’s stock, valued at $1,166,692.41. This trade represents a 15.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 351,000 shares of company stock worth $4,703,780 in the last quarter. 1.95% of the stock is owned by company insiders.

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.