SolarWinds (NYSE:SWI) Research Coverage Started at Wedbush

Wedbush assumed coverage on shares of SolarWinds (NYSE:SWI) in a research note issued to investors on Thursday, MarketBeat Ratings reports. The firm issued an outperform rating and a $20.00 target price on the software maker’s stock.

A number of other equities analysts have also recently issued reports on SWI. Scotiabank started coverage on SolarWinds in a report 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 SolarWinds from $14.00 to $15.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $15.00.

SolarWinds Price Performance

Shares of SWI opened at $14.45 on Thursday. SolarWinds has a one year low of $10.14 and a one year high of $14.94. The stock’s fifty day moving average is $13.48 and its 200-day moving average is $12.66. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.71 and a current ratio of 0.71. The firm has a market capitalization of $2.46 billion, a price-to-earnings ratio of 65.68 and a beta of 0.96.

SolarWinds (NYSE:SWI) last released its quarterly earnings results on Thursday, October 31st. The software maker reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.02. The company had revenue of $200.03 million for the quarter, compared to the consensus estimate of $194.03 million. SolarWinds had a net margin of 4.93% and a return on equity of 7.96%. SolarWinds’s revenue was up 5.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.11 EPS. Equities analysts anticipate that SolarWinds will post 0.74 EPS for the current year.

Insider Buying and Selling at SolarWinds

In related news, Director William G. Bock sold 16,000 shares of SolarWinds stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $13.13, for a total transaction of $210,080.00. Following the completion of the sale, the director now owns 88,857 shares of the company’s stock, valued at approximately $1,166,692.41. This trade represents a 15.26 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sudhakar Ramakrishna sold 200,000 shares of the company’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $13.68, for a total value of $2,736,000.00. Following the completion of the transaction, the chief executive officer now directly owns 2,212,171 shares in the company, valued at approximately $30,262,499.28. The trade was a 8.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 351,000 shares of company stock valued at $4,703,780 in the last 90 days. 1.95% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On SolarWinds

Several institutional investors have recently made changes to their positions in SWI. Allspring Global Investments Holdings LLC raised its position in SolarWinds by 24.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 5,071 shares of the software maker’s stock valued at $66,000 after acquiring an additional 1,001 shares in the last quarter. Quantinno Capital Management LP raised its holdings in shares of SolarWinds by 2.5% during the 3rd quarter. Quantinno Capital Management LP now owns 48,198 shares of the software maker’s stock valued at $629,000 after purchasing an additional 1,184 shares in the last quarter. GAMMA Investing LLC lifted its stake in shares of SolarWinds by 344.7% in the 3rd quarter. GAMMA Investing LLC now owns 2,068 shares of the software maker’s stock valued at $27,000 after purchasing an additional 1,603 shares during the last quarter. Franklin Resources Inc. boosted its holdings in SolarWinds by 6.2% in the third quarter. Franklin Resources Inc. now owns 29,995 shares of the software maker’s stock worth $386,000 after purchasing an additional 1,760 shares in the last quarter. Finally, Banque Cantonale Vaudoise boosted its holdings in SolarWinds by 1.2% in the second quarter. Banque Cantonale Vaudoise now owns 156,382 shares of the software maker’s stock worth $1,884,000 after purchasing an additional 1,793 shares in the last quarter. 93.96% of the stock is currently owned by institutional investors and hedge funds.

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.