Meritage Portfolio Management Increases Stock Holdings in SolarWinds Co. (NYSE:SWI)

Meritage Portfolio Management grew its holdings in SolarWinds Co. (NYSE:SWI - Free Report) by 245.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 96,154 shares of the software maker's stock after purchasing an additional 68,281 shares during the period. Meritage Portfolio Management owned approximately 0.06% of SolarWinds worth $1,370,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Marshall Wace LLP purchased a new position in shares of SolarWinds during the 2nd quarter worth approximately $129,000. The Manufacturers Life Insurance Company boosted its position in shares of SolarWinds by 9.4% during the second quarter. The Manufacturers Life Insurance Company now owns 34,225 shares of the software maker's stock worth $412,000 after buying an additional 2,936 shares during the period. Algert Global LLC acquired a new stake in shares of SolarWinds in the second quarter valued at $354,000. Sanctuary Advisors LLC purchased a new stake in shares of SolarWinds in the 2nd quarter valued at $230,000. Finally, SG Americas Securities LLC acquired a new position in SolarWinds during the 3rd quarter worth about $385,000. 93.96% of the stock is currently owned by hedge funds and other institutional investors.

SolarWinds Stock Up 22.0 %

Shares of SWI stock traded up $3.31 during trading hours on Friday, reaching $18.34. 10,073,363 shares of the stock were exchanged, compared to its average volume of 330,496. The business's fifty day moving average is $14.47 and its two-hundred day moving average is $13.33. The firm has a market capitalization of $3.13 billion, a P/E ratio of 83.37 and a beta of 0.94. SolarWinds Co. has a 12-month low of $10.14 and a 12-month high of $18.55. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.71 and a quick ratio of 0.71.

Analyst Ratings Changes

Several research firms have weighed in on SWI. Scotiabank lifted their target price on SolarWinds from $13.00 to $15.00 and gave the company a "sector perform" rating in a research report on Tuesday, January 21st. Robert W. Baird lifted their price objective on shares of SolarWinds from $14.00 to $15.00 and gave the company a "neutral" rating in a report on Friday, November 1st. Royal Bank of Canada increased their target price on shares of SolarWinds from $13.00 to $16.00 and gave the stock a "sector perform" rating in a report on Tuesday, January 21st. Finally, Wedbush downgraded shares of SolarWinds from an "outperform" rating to a "neutral" rating and dropped their price target for the stock from $20.00 to $18.50 in a research note on Friday. Five equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, SolarWinds has an average rating of "Hold" and an average price target of $15.50.

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.