SolarWinds (NYSE:SWI) Given New $15.00 Price Target at Scotiabank

SolarWinds (NYSE:SWI) had its price objective lifted by Scotiabank from $13.00 to $15.00 in a research note issued to investors on Tuesday,Benzinga reports. They currently have a sector perform rating on the software maker’s stock.

SWI has been the topic of several other research reports. Royal Bank of Canada lifted their price target on shares of SolarWinds from $13.00 to $16.00 and gave the stock a “sector perform” rating in a research note on Tuesday. Wedbush assumed coverage on SolarWinds in a research report on Thursday, December 19th. They issued an “outperform” rating and a $20.00 price target for the company. Finally, Robert W. Baird lifted their price objective on SolarWinds from $14.00 to $15.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $15.50.

SolarWinds Price Performance

Shares of SWI opened at $14.35 on Tuesday. The firm has a market cap of $2.45 billion, a PE ratio of 65.22 and a beta of 0.94. SolarWinds has a 1-year low of $10.14 and a 1-year high of $14.94. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.88. The firm has a fifty day simple moving average of $13.97 and a two-hundred day simple moving average of $13.03.

SolarWinds (NYSE:SWI) last posted its quarterly earnings data on Thursday, October 31st. The software maker reported $0.27 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.02. The company had revenue of $200.03 million during the quarter, compared to analysts’ expectations of $194.03 million. SolarWinds had a return on equity of 7.96% and a net margin of 4.93%. SolarWinds’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.11 earnings per share. On average, equities analysts anticipate that SolarWinds will post 0.74 EPS for the current year.

Insider Buying and Selling

In other SolarWinds news, insider Jason Bliss sold 135,000 shares of the business’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $13.02, for a total value of $1,757,700.00. Following the sale, the insider now owns 838,789 shares in the company, valued at $10,921,032.78. The trade was a 13.86 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sudhakar Ramakrishna sold 200,000 shares of the firm’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $13.68, for a total value of $2,736,000.00. Following the transaction, the chief executive officer now owns 2,212,171 shares of the company’s stock, valued at approximately $30,262,499.28. The trade was a 8.29 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 351,000 shares of company stock worth $4,703,780. 1.95% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On SolarWinds

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. American Century Companies Inc. grew its position in SolarWinds by 16.6% in the second quarter. American Century Companies Inc. now owns 64,435 shares of the software maker’s stock worth $776,000 after acquiring an additional 9,186 shares in the last quarter. Dimensional Fund Advisors LP increased 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 period. Renaissance Technologies LLC raised its position in SolarWinds by 5.6% during the 2nd quarter. Renaissance Technologies LLC now owns 493,200 shares of the software maker’s stock valued at $5,943,000 after purchasing an additional 26,010 shares in the last quarter. Thrivent Financial for Lutherans raised its holdings in shares of SolarWinds by 8.1% in the second quarter. Thrivent Financial for Lutherans now owns 117,163 shares of the software maker’s stock valued at $1,413,000 after acquiring an additional 8,799 shares in the last quarter. Finally, Magnetar Financial LLC bought a new position in SolarWinds during the 2nd quarter worth about $395,000. 93.96% of the stock is owned by institutional investors.

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.