Connor Clark & Lunn Investment Management Ltd. cut its position in SolarWinds Co. (NYSE:SWI - Free Report) by 11.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 503,184 shares of the software maker's stock after selling 63,020 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned 0.30% of SolarWinds worth $7,170,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also recently modified their holdings of the company. R Squared Ltd acquired a new position in SolarWinds in the 4th quarter valued at about $38,000. Steward Partners Investment Advisory LLC boosted its stake in shares of SolarWinds by 75.5% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 5,299 shares of the software maker's stock valued at $76,000 after purchasing an additional 2,279 shares during the period. West Tower Group LLC grew its holdings in shares of SolarWinds by 38.3% in the third quarter. West Tower Group LLC now owns 7,221 shares of the software maker's stock valued at $94,000 after purchasing an additional 2,000 shares in the last quarter. Quadrature Capital Ltd acquired a new position in shares of SolarWinds in the third quarter valued at approximately $138,000. Finally, Intech Investment Management LLC acquired a new stake in SolarWinds during the 3rd quarter worth approximately $155,000. Hedge funds and other institutional investors own 93.96% of the company's stock.
SolarWinds Stock Up 0.0 %
SolarWinds stock traded up $0.01 during midday trading on Wednesday, reaching $18.41. The company's stock had a trading volume of 1,039,870 shares, compared to its average volume of 1,163,465. The business has a 50-day simple moving average of $16.62 and a 200-day simple moving average of $14.49. The company has a market cap of $3.16 billion, a P/E ratio of 29.21 and a beta of 0.93. SolarWinds Co. has a fifty-two week low of $10.14 and a fifty-two week 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.
SolarWinds (NYSE:SWI - Get Free Report) last posted its earnings results on Wednesday, February 12th. The software maker reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.14. SolarWinds had a return on equity of 12.19% and a net margin of 14.04%. On average, research analysts expect that SolarWinds Co. will post 0.75 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
SWI has been the subject of several research reports. Royal Bank of Canada boosted their price target 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. Scotiabank boosted their target price on SolarWinds from $15.00 to $18.50 and gave the stock a "sector perform" rating in a research note on Monday, February 10th. Robert W. Baird increased their price target on SolarWinds from $15.00 to $18.50 and gave the company a "neutral" rating in a research report on Monday, February 10th. Truist Financial reissued a "hold" rating and set a $18.50 price objective (up from $13.00) on shares of SolarWinds in a research report on Monday, February 10th. Finally, Wedbush lowered shares of SolarWinds from an "outperform" rating to a "neutral" rating and cut their target price for the stock from $20.00 to $18.50 in a research note on Friday, February 7th. Five investment analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $18.00.
Read Our Latest Research Report on SolarWinds
SolarWinds Company Profile
(
Free Report)
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.
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