Victory Capital Management Inc. Buys 7,000 Shares of N-able, Inc. (NYSE:NABL)

Victory Capital Management Inc. raised its stake in shares of N-able, Inc. (NYSE:NABL) by 14.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 55,497 shares of the company’s stock after purchasing an additional 7,000 shares during the period. Victory Capital Management Inc.’s holdings in N-able were worth $725,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of NABL. Mackenzie Financial Corp raised its holdings in N-able by 2.2% during the 2nd quarter. Mackenzie Financial Corp now owns 40,497 shares of the company’s stock valued at $617,000 after buying an additional 866 shares during the period. Louisiana State Employees Retirement System increased its position in N-able by 2.6% during the second quarter. Louisiana State Employees Retirement System now owns 35,300 shares of the company’s stock valued at $538,000 after acquiring an additional 900 shares during the last quarter. Rhumbline Advisers raised its stake in shares of N-able by 0.8% in the second quarter. Rhumbline Advisers now owns 203,826 shares of the company’s stock valued at $3,104,000 after acquiring an additional 1,668 shares during the period. Summit Securities Group LLC purchased a new stake in shares of N-able in the second quarter valued at $30,000. Finally, Arizona State Retirement System lifted its holdings in shares of N-able by 17.6% in the 2nd quarter. Arizona State Retirement System now owns 20,689 shares of the company’s stock worth $315,000 after acquiring an additional 3,094 shares during the last quarter. Hedge funds and other institutional investors own 96.35% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Royal Bank of Canada reiterated an “outperform” rating and set a $15.00 price target on shares of N-able in a report on Thursday, November 21st. Needham & Company LLC reaffirmed a “buy” rating and set a $16.50 target price on shares of N-able in a research note on Friday, November 22nd. Finally, BMO Capital Markets reduced their price target on N-able from $14.00 to $13.50 and set a “market perform” rating on the stock in a report on Friday, November 8th.

N-able Trading Up 0.3 %

NYSE NABL opened at $10.28 on Friday. The stock has a market cap of $1.91 billion, a PE ratio of 51.40 and a beta of 0.47. N-able, Inc. has a 12 month low of $9.98 and a 12 month high of $15.48. The company’s 50-day moving average price is $12.02 and its 200-day moving average price is $13.02. The company has a current ratio of 3.01, a quick ratio of 3.01 and a debt-to-equity ratio of 0.43.

N-able (NYSE:NABL) last released its quarterly earnings data on Thursday, November 7th. The company reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.03. The company had revenue of $116.40 million during the quarter, compared to analysts’ expectations of $114.75 million. N-able had a net margin of 8.08% and a return on equity of 6.31%. The firm’s quarterly revenue was up 8.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.03 EPS. Equities research analysts forecast that N-able, Inc. will post 0.28 earnings per share for the current year.

About N-able

N-able, Inc provides cloud-based software solutions for managed service providers in the United States, the United Kingdom, and internationally. The company's solutions enable MSPs to support digital transformation and growth within small and medium-sized enterprises. It provides software platform designed to be an integrated, enterprise-grade solution that serves as an operating system for its MSP partners and scales as their businesses grow.