SolarWinds Co. (NYSE:SWI) Shares Purchased by Scalar Gauge Management LLC

Scalar Gauge Management LLC grew its stake in shares of SolarWinds Co. (NYSE:SWI) by 11.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 834,060 shares of the software maker’s stock after purchasing an additional 85,000 shares during the quarter. SolarWinds makes up about 5.8% of Scalar Gauge Management LLC’s holdings, making the stock its 3rd biggest position. Scalar Gauge Management LLC owned 0.49% of SolarWinds worth $10,050,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Dimensional Fund Advisors LP grew its stake 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 worth $59,589,000 after buying an additional 508,280 shares during the last quarter. Boston Partners purchased a new position in shares of SolarWinds during the first quarter worth approximately $1,084,000. Quadrature Capital Ltd increased its holdings 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 valued at $376,000 after acquiring an additional 7,478 shares during the period. Quest Partners LLC purchased a new stake in SolarWinds in the 4th quarter valued at $129,000. Finally, Allspring Global Investments Holdings LLC boosted its stake in SolarWinds by 28.3% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 10,633 shares of the software maker’s stock worth $134,000 after purchasing an additional 2,343 shares during the period. Institutional investors and hedge funds own 93.96% of the company’s stock.

Wall Street Analysts Forecast Growth

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

SolarWinds Price Performance

Shares of NYSE:SWI opened at $12.87 on Tuesday. SolarWinds Co. has a 52 week low of $8.83 and a 52 week high of $13.43. The company has a 50-day moving average price of $12.31 and a 200 day moving average price of $11.95. The company has a market cap of $2.16 billion, a P/E ratio of 183.86 and a beta of 0.97. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.92.

SolarWinds (NYSE:SWI) last posted its quarterly earnings results 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 firm had revenue of $193.30 million for the quarter, compared to the consensus estimate of $188.67 million. SolarWinds had a return on equity of 7.14% and a net margin of 2.96%. The company’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.12 earnings per share. Research analysts predict that SolarWinds Co. will post 0.71 earnings per share for the current year.

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.