Algert Global LLC Takes $354,000 Position in SolarWinds Co. (NYSE:SWI)

Algert Global LLC bought a new stake in shares of SolarWinds Co. (NYSE:SWI) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund bought 29,406 shares of the software maker’s stock, valued at approximately $354,000.

A number of other hedge funds also recently modified their holdings of the business. Boston Partners purchased a new stake in SolarWinds in the 1st quarter worth about $1,084,000. Scalar Gauge Management LLC purchased a new position in SolarWinds during the fourth quarter valued at approximately $4,918,000. Quadrature Capital Ltd increased its stake in 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 buying an additional 7,478 shares during the period. 272 Capital LP purchased a new stake in SolarWinds in the 2nd quarter worth approximately $5,032,000. Finally, Allspring Global Investments Holdings LLC boosted its stake in shares of SolarWinds by 28.3% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 10,633 shares of the software maker’s stock valued at $134,000 after buying an additional 2,343 shares during the period. Hedge funds and other institutional investors own 93.96% of the company’s stock.

SolarWinds Stock Up 0.1 %

SWI stock opened at $12.97 on Wednesday. The firm has a market cap of $2.18 billion, a PE ratio of 185.29 and a beta of 0.97. SolarWinds Co. has a 1 year low of $8.83 and a 1 year high of $13.43. The company has a fifty day simple moving average of $12.53 and a 200 day simple moving average of $11.98. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.92.

SolarWinds (NYSE:SWI) last announced its quarterly earnings results on Thursday, August 1st. The software maker reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.03. The company had revenue of $193.30 million during the quarter, compared to analysts’ expectations of $188.67 million. SolarWinds had a return on equity of 7.14% and a net margin of 2.96%. During the same quarter in the previous year, the firm earned $0.12 earnings per share. The business’s quarterly revenue was up 4.5% compared to the same quarter last year. Sell-side analysts anticipate that SolarWinds Co. will post 0.71 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on SWI shares. Scotiabank initiated coverage on shares of SolarWinds in a research note on Friday, September 13th. They issued a “sector perform” rating and a $13.00 price target on the stock. Robert W. Baird cut their price target 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 research analysts have rated the stock with a hold rating, Based on data from MarketBeat, SolarWinds presently has an average rating of “Hold” and an average price target of $13.80.

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.