SolarWinds (NYSE:SWI) Sets New 1-Year High - Here's What Happened

SolarWinds Co. (NYSE:SWI - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $13.47 and last traded at $13.47, with a volume of 354153 shares traded. The stock had previously closed at $13.12.

Analysts Set New Price Targets

SWI has been the topic of several research analyst reports. Scotiabank began coverage on shares of SolarWinds in a research note on Friday, September 13th. They issued a "sector perform" rating and a $13.00 price objective on the stock. Robert W. Baird boosted their price target on shares of SolarWinds from $14.00 to $15.00 and gave the company a "neutral" rating in a report on Friday. Five equities research analysts have rated the stock with a hold rating, According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $14.00.

SolarWinds Stock Up 2.2 %

The firm has a 50-day simple moving average of $12.73 and a 200 day simple moving average of $12.16. The stock has a market capitalization of $2.27 billion, a P/E ratio of 60.32 and a beta of 0.96. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.62 and a quick ratio of 0.62.

SolarWinds (NYSE:SWI - Get Free Report) last released its quarterly earnings results on Thursday, October 31st. The software maker reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.02. The firm 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 7.99%. The company's revenue for the quarter was up 5.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.11 earnings per share. On average, equities research analysts forecast that SolarWinds Co. will post 0.71 EPS for the current year.

Institutional Trading of SolarWinds

Several hedge funds have recently added to or reduced their stakes in SWI. Allspring Global Investments Holdings LLC boosted its holdings in SolarWinds by 24.6% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 5,071 shares of the software maker's stock valued at $66,000 after purchasing an additional 1,001 shares during the period. ProShare Advisors LLC boosted its position in shares of SolarWinds by 14.4% during the 1st quarter. ProShare Advisors LLC now owns 12,420 shares of the software maker's stock valued at $157,000 after acquiring an additional 1,565 shares during the last quarter. GAMMA Investing LLC increased its position in shares of SolarWinds by 344.7% in the third quarter. GAMMA Investing LLC now owns 2,068 shares of the software maker's stock worth $27,000 after purchasing an additional 1,603 shares during the last quarter. Banque Cantonale Vaudoise raised its stake in SolarWinds by 1.2% in the second quarter. Banque Cantonale Vaudoise now owns 156,382 shares of the software maker's stock valued at $1,884,000 after purchasing an additional 1,793 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position in SolarWinds by 7.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 32,746 shares of the software maker's stock valued at $414,000 after purchasing an additional 2,145 shares during the last quarter. Institutional investors own 93.96% of the company's stock.

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.

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