Bank of New York Mellon Corp Has $6.12 Million Stake in SolarWinds Co. (NYSE:SWI)

Bank of New York Mellon Corp increased its stake in SolarWinds Co. (NYSE:SWI) by 2.2% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 429,747 shares of the software maker’s stock after purchasing an additional 9,409 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.25% of SolarWinds worth $6,124,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the business. Venturi Wealth Management LLC bought a new stake in shares of SolarWinds during the fourth quarter valued at approximately $7,446,000. Principal Financial Group Inc. lifted its stake in shares of SolarWinds by 4.4% during the fourth quarter. Principal Financial Group Inc. now owns 293,855 shares of the software maker’s stock valued at $4,187,000 after acquiring an additional 12,428 shares during the period. Rhumbline Advisers lifted its stake in SolarWinds by 4.3% in the fourth quarter. Rhumbline Advisers now owns 166,644 shares of the software maker’s stock valued at $2,375,000 after buying an additional 6,862 shares during the period. Meritage Portfolio Management lifted its stake in SolarWinds by 245.0% in the fourth quarter. Meritage Portfolio Management now owns 96,154 shares of the software maker’s stock valued at $1,370,000 after buying an additional 68,281 shares during the period. Finally, R Squared Ltd bought a new stake in shares of SolarWinds in the fourth quarter worth about $38,000. 93.96% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have issued reports on SWI. Scotiabank increased their price target on SolarWinds from $15.00 to $18.50 and gave the stock a “sector perform” rating in a report on Monday, February 10th. Wedbush downgraded SolarWinds from an “outperform” rating to a “neutral” rating and decreased their price target for the company from $20.00 to $18.50 in a research note on Friday, February 7th. Truist Financial reaffirmed a “hold” rating and issued a $18.50 price objective (up from $13.00) on shares of SolarWinds in a research report on Monday, February 10th. Royal Bank of Canada lifted their price target on SolarWinds from $13.00 to $16.00 and gave the stock a “sector perform” rating in a report on Tuesday, January 21st. Finally, Robert W. Baird raised their price objective on SolarWinds from $15.00 to $18.50 and gave the stock a “neutral” rating in a research note on Monday, February 10th. Five investment analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $18.00.

SolarWinds Trading Up 0.3 %

Shares of SWI opened at $18.36 on Monday. The firm has a market cap of $3.15 billion, a price-to-earnings ratio of 29.14 and a beta of 0.93. SolarWinds Co. has a 52-week low of $10.14 and a 52-week high of $18.55. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.71 and a current ratio of 0.85. The business’s fifty day moving average is $16.45 and its 200-day moving average is $14.41.

SolarWinds (NYSE:SWI) last announced its earnings results on Wednesday, February 12th. The software maker reported $0.41 EPS for the quarter, topping the consensus estimate of $0.27 by $0.14. SolarWinds had a return on equity of 12.19% and a net margin of 14.04%. Equities analysts anticipate that SolarWinds Co. will post 0.75 EPS for the current fiscal 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.