Allworth Financial LP Boosts Holdings in SolarWinds Co. (NYSE:SWI)

Allworth Financial LP grew its holdings in shares of SolarWinds Co. (NYSE:SWI) by 732.1% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,786 shares of the software maker’s stock after acquiring an additional 3,331 shares during the quarter. Allworth Financial LP’s holdings in SolarWinds were worth $49,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in SWI. GAMMA Investing LLC raised its stake in shares of SolarWinds by 344.7% during the third quarter. GAMMA Investing LLC now owns 2,068 shares of the software maker’s stock worth $27,000 after acquiring an additional 1,603 shares in the last quarter. nVerses Capital LLC purchased a new position in shares of SolarWinds in the second quarter worth $41,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of SolarWinds in the second quarter worth $58,000. Ameritas Investment Partners Inc. purchased a new position in shares of SolarWinds in the first quarter worth $62,000. Finally, Allspring Global Investments Holdings LLC increased its stake in shares of SolarWinds by 24.6% in the third quarter. Allspring Global Investments Holdings LLC now owns 5,071 shares of the software maker’s stock worth $66,000 after buying an additional 1,001 shares during the period. 93.96% of the stock is owned by hedge funds and other institutional investors.

SolarWinds Stock Up 0.6 %

Shares of NYSE:SWI opened at $13.16 on Friday. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.92. The stock has a fifty day simple moving average of $12.72 and a two-hundred day simple moving average of $12.12. SolarWinds Co. has a 12-month low of $9.41 and a 12-month high of $13.45. The stock has a market capitalization of $2.23 billion, a price-to-earnings ratio of 101.23 and a beta of 0.97.

SolarWinds (NYSE:SWI) last released its earnings results on Thursday, October 31st. The software maker reported $0.27 EPS for the quarter, topping the consensus estimate of $0.25 by $0.02. SolarWinds had a return on equity of 7.14% and a net margin of 2.96%. The business had revenue of $200.03 million for the quarter, compared to the consensus estimate of $194.03 million. During the same period in the previous year, the company posted $0.11 earnings per share. The company’s revenue for the quarter was up 5.5% compared to the same quarter last year. On average, research analysts anticipate that SolarWinds Co. will post 0.71 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. 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 target price on the stock. Robert W. Baird boosted their price objective on shares of SolarWinds from $14.00 to $15.00 and gave the company a “neutral” rating in a research report on Friday. Five investment analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $14.00.

SolarWinds Company 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.