Fisher Asset Management LLC Invests $13.89 Million in SolarWinds Co. (NYSE:SWI)

Fisher Asset Management LLC acquired a new position in SolarWinds Co. (NYSE:SWI - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 974,481 shares of the software maker's stock, valued at approximately $13,886,000. Fisher Asset Management LLC owned approximately 0.57% of SolarWinds at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in SWI. Proficio Capital Partners LLC acquired a new position in SolarWinds during the fourth quarter worth about $160,000. Bank of New York Mellon Corp increased its holdings in shares of SolarWinds by 2.2% in the fourth quarter. Bank of New York Mellon Corp now owns 429,747 shares of the software maker's stock valued at $6,124,000 after buying an additional 9,409 shares in the last quarter. Venturi Wealth Management LLC purchased a new stake in shares of SolarWinds during the fourth quarter valued at $7,446,000. Principal Financial Group Inc. boosted its position in shares of SolarWinds by 4.4% in the 4th quarter. Principal Financial Group Inc. now owns 293,855 shares of the software maker's stock valued at $4,187,000 after purchasing an additional 12,428 shares during the period. Finally, Rhumbline Advisers increased its stake in SolarWinds by 4.3% in the 4th quarter. Rhumbline Advisers now owns 166,644 shares of the software maker's stock worth $2,375,000 after purchasing an additional 6,862 shares in the last quarter. 93.96% of the stock is currently owned by institutional investors and hedge funds.

SolarWinds Stock Up 0.2 %

Shares of NYSE:SWI traded up $0.04 during trading on Friday, reaching $18.33. 1,195,021 shares of the company traded hands, compared to its average volume of 650,224. SolarWinds Co. has a 1-year low of $10.14 and a 1-year high of $18.55. The company has a quick ratio of 0.71, a current ratio of 0.85 and a debt-to-equity ratio of 0.85. The firm has a market cap of $3.14 billion, a P/E ratio of 29.09 and a beta of 0.93. The firm has a fifty day simple moving average of $15.96 and a 200 day simple moving average of $14.15.

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SolarWinds (NYSE:SWI - Get Free Report) last issued its earnings results on Wednesday, February 12th. The software maker reported $0.41 EPS for the quarter, beating analysts' consensus estimates of $0.27 by $0.14. SolarWinds had a return on equity of 12.19% and a net margin of 14.04%. Analysts anticipate that SolarWinds Co. will post 0.75 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have commented on SWI. Robert W. Baird raised their target price on shares of SolarWinds from $15.00 to $18.50 and gave the stock a "neutral" rating in a report on Monday, February 10th. Royal Bank of Canada raised their price objective on shares of SolarWinds from $13.00 to $16.00 and gave the stock a "sector perform" rating in a research note on Tuesday, January 21st. Wedbush downgraded shares of SolarWinds from an "outperform" rating to a "neutral" rating and cut their target price for the company from $20.00 to $18.50 in a research note on Friday, February 7th. Truist Financial reaffirmed a "hold" rating and issued a $18.50 target price (up previously from $13.00) on shares of SolarWinds in a research report on Monday, February 10th. Finally, Scotiabank upped their price target on SolarWinds from $15.00 to $18.50 and gave the company a "sector perform" rating in a research report on Monday, February 10th. Five equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $18.00.

SolarWinds Profile

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.