Bank of New York Mellon Corp Buys 24,400 Shares of SolarWinds Co. (NYSE:SWI)

Bank of New York Mellon Corp raised its stake in SolarWinds Co. (NYSE:SWI) by 9.6% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 279,792 shares of the software maker’s stock after purchasing an additional 24,400 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.17% of SolarWinds worth $3,371,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Dimensional Fund Advisors LP grew its stake in shares of SolarWinds by 11.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,770,945 shares of the software maker’s stock valued at $59,589,000 after buying an additional 508,280 shares in the last quarter. Boston Partners acquired a new position in shares of SolarWinds during the 1st quarter worth about $1,084,000. Scalar Gauge Management LLC acquired a new stake in SolarWinds in the 4th quarter valued at about $4,918,000. Quadrature Capital Ltd lifted its stake in SolarWinds by 33.1% in the 4th quarter. Quadrature Capital Ltd now owns 30,087 shares of the software maker’s stock valued at $376,000 after purchasing an additional 7,478 shares during the last quarter. Finally, Quest Partners LLC bought a new position in SolarWinds during the fourth quarter worth about $129,000. Institutional investors and hedge funds own 93.96% of the company’s stock.

SolarWinds Price Performance

SolarWinds stock opened at $12.49 on Friday. The company has a market capitalization of $2.10 billion, a price-to-earnings ratio of 178.43 and a beta of 0.97. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.92. SolarWinds Co. has a 12 month low of $8.83 and a 12 month high of $13.43. The stock’s 50 day moving average is $12.18 and its 200-day moving average is $11.91.

SolarWinds (NYSE:SWI) last issued its quarterly earnings data on Thursday, August 1st. The software maker reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.03. SolarWinds had a return on equity of 7.14% and a net margin of 2.96%. The firm had revenue of $193.30 million for the quarter, compared to analyst estimates of $188.67 million. During the same period in the prior year, the firm posted $0.12 EPS. The company’s revenue for the quarter was up 4.5% on a year-over-year basis. Equities research analysts expect that SolarWinds Co. will post 0.71 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Scotiabank began coverage on SolarWinds in a research report on Friday. They issued a “sector perform” rating and a $13.00 price objective for the company. Robert W. Baird cut their price target on SolarWinds from $15.00 to $14.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Five equities research analysts have rated the stock with a hold rating, According to data from MarketBeat, SolarWinds presently has a consensus rating of “Hold” and an average target price of $13.80.

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.