The Manufacturers Life Insurance Company Has $412,000 Position in SolarWinds Co. (NYSE:SWI)

The Manufacturers Life Insurance Company lifted its position in shares of SolarWinds Co. (NYSE:SWI) by 9.4% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 34,225 shares of the software maker’s stock after acquiring an additional 2,936 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in SolarWinds were worth $412,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Dimensional Fund Advisors LP raised its position in shares of SolarWinds by 8.7% during the second quarter. Dimensional Fund Advisors LP now owns 5,776,309 shares of the software maker’s stock worth $69,603,000 after acquiring an additional 461,061 shares during the last quarter. Scalar Gauge Management LLC increased its holdings in SolarWinds by 11.3% in the second quarter. Scalar Gauge Management LLC now owns 834,060 shares of the software maker’s stock valued at $10,050,000 after purchasing an additional 85,000 shares during the last quarter. AQR Capital Management LLC increased its holdings in SolarWinds by 48.5% in the second quarter. AQR Capital Management LLC now owns 825,829 shares of the software maker’s stock valued at $9,869,000 after purchasing an additional 269,578 shares during the last quarter. Federated Hermes Inc. increased its holdings in SolarWinds by 0.4% in the second quarter. Federated Hermes Inc. now owns 560,015 shares of the software maker’s stock valued at $6,748,000 after purchasing an additional 2,491 shares during the last quarter. Finally, Foundry Partners LLC increased its holdings in SolarWinds by 5.3% in the second quarter. Foundry Partners LLC now owns 510,206 shares of the software maker’s stock valued at $6,148,000 after purchasing an additional 25,685 shares during the last quarter. Institutional investors own 93.96% of the company’s stock.

Analysts Set New Price Targets

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

SolarWinds Stock Up 0.5 %

SWI stock opened at $12.87 on Thursday. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.62 and a quick ratio of 0.62. The stock has a market capitalization of $2.16 billion, a P/E ratio of 183.86 and a beta of 0.97. The business has a 50-day moving average of $12.71 and a 200-day moving average of $12.01. SolarWinds Co. has a fifty-two week low of $8.83 and a fifty-two week high of $13.43.

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

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.