Victory Capital Management Inc. Has $619,000 Position in N-able, Inc. (NYSE:NABL)

Victory Capital Management Inc. boosted its holdings in N-able, Inc. (NYSE:NABL) by 19.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 66,314 shares of the company’s stock after buying an additional 10,817 shares during the quarter. Victory Capital Management Inc.’s holdings in N-able were worth $619,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the business. State Street Corp raised its holdings in N-able by 2.4% in the 3rd quarter. State Street Corp now owns 3,164,709 shares of the company’s stock valued at $41,331,000 after buying an additional 75,003 shares during the last quarter. Geode Capital Management LLC raised its holdings in N-able by 1.0% during the 3rd quarter. Geode Capital Management LLC now owns 1,597,651 shares of the company’s stock worth $20,870,000 after purchasing an additional 15,145 shares during the last quarter. Scalar Gauge Management LLC raised its holdings in N-able by 40.0% during the 3rd quarter. Scalar Gauge Management LLC now owns 978,663 shares of the company’s stock worth $12,781,000 after purchasing an additional 279,387 shares during the last quarter. Applied Fundamental Research LLC raised its holdings in N-able by 438.6% during the 3rd quarter. Applied Fundamental Research LLC now owns 815,634 shares of the company’s stock worth $10,652,000 after purchasing an additional 664,198 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in N-able by 3.5% during the 4th quarter. Bank of New York Mellon Corp now owns 487,320 shares of the company’s stock worth $4,552,000 after purchasing an additional 16,253 shares during the last quarter. Institutional investors own 96.35% of the company’s stock.

N-able Stock Performance

NYSE:NABL opened at $7.51 on Friday. The company has a fifty day moving average of $9.07 and a 200-day moving average of $10.56. The firm has a market capitalization of $1.42 billion, a P/E ratio of 37.53 and a beta of 0.41. The company has a quick ratio of 3.01, a current ratio of 3.01 and a debt-to-equity ratio of 0.43. N-able, Inc. has a twelve month low of $6.75 and a twelve month high of $15.49.

N-able announced that its board has initiated a stock repurchase plan on Wednesday, March 12th that allows the company to repurchase $75.00 million in shares. This repurchase authorization allows the company to reacquire up to 5.7% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on NABL. Scotiabank raised their price target on shares of N-able from $8.75 to $9.00 and gave the stock a “sector perform” rating in a report on Friday, March 14th. William Blair restated an “outperform” rating on shares of N-able in a report on Friday, March 14th. Needham & Company LLC restated a “buy” rating and set a $10.00 price target on shares of N-able in a report on Friday, March 14th. Royal Bank of Canada lowered their price objective on shares of N-able from $12.00 to $10.00 and set an “outperform” rating for the company in a research note on Tuesday, March 4th. Finally, BMO Capital Markets reiterated a “market perform” rating and issued a $8.50 price objective (down previously from $13.50) on shares of N-able in a research note on Tuesday, March 4th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $9.38.

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.