Federated Hermes Inc. Buys 2,491 Shares of SolarWinds Co. (NYSE:SWI)

Federated Hermes Inc. raised its stake in shares of SolarWinds Co. (NYSE:SWI) by 0.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 560,015 shares of the software maker’s stock after acquiring an additional 2,491 shares during the quarter. Federated Hermes Inc. owned approximately 0.33% of SolarWinds worth $6,748,000 at the end of the most recent reporting period.

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

SolarWinds Stock Performance

NYSE SWI opened at $12.67 on Wednesday. The stock has a 50-day simple moving average of $12.20 and a two-hundred day simple moving average of $11.92. The firm has a market capitalization of $2.15 billion, a P/E ratio of 181.00 and a beta of 0.97. SolarWinds Co. has a fifty-two week low of $8.83 and a fifty-two week high of $13.43. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.62 and a current ratio of 0.62.

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

Analysts Set New Price Targets

A number of brokerages have commented on SWI. Robert W. Baird lowered their price target on SolarWinds from $15.00 to $14.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Scotiabank began coverage on SolarWinds in a research report on Friday, September 13th. They set a “sector perform” rating and a $13.00 price target for the company. Five equities research analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $13.80.

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.