New York State Teachers Retirement System Trims Stake in SolarWinds Co. (NYSE:SWI)

New York State Teachers Retirement System trimmed its holdings in shares of SolarWinds Co. (NYSE:SWI) by 31.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,599 shares of the software maker’s stock after selling 4,967 shares during the quarter. New York State Teachers Retirement System’s holdings in SolarWinds were worth $151,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. State Street Corp grew its position in SolarWinds by 57.5% during the third quarter. State Street Corp now owns 2,193,026 shares of the software maker’s stock worth $28,619,000 after buying an additional 800,467 shares in the last quarter. Geode Capital Management LLC grew its position in SolarWinds by 1.3% during the third quarter. Geode Capital Management LLC now owns 1,290,044 shares of the software maker’s stock worth $16,839,000 after buying an additional 16,730 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its position in SolarWinds by 4.7% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 566,204 shares of the software maker’s stock worth $7,389,000 after buying an additional 25,416 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in SolarWinds by 7.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 454,454 shares of the software maker’s stock worth $5,931,000 after buying an additional 30,707 shares in the last quarter. Finally, Segall Bryant & Hamill LLC grew its position in SolarWinds by 1.4% during the third quarter. Segall Bryant & Hamill LLC now owns 368,394 shares of the software maker’s stock worth $4,808,000 after buying an additional 5,253 shares in the last quarter. 93.96% of the stock is currently owned by hedge funds and other institutional investors.

SolarWinds Trading Down 0.1 %

NYSE SWI opened at $18.30 on Tuesday. SolarWinds Co. has a 1-year low of $10.14 and a 1-year high of $18.55. The company has a current ratio of 0.85, a quick ratio of 0.71 and a debt-to-equity ratio of 0.85. The stock has a 50-day moving average of $15.32 and a 200-day moving average of $13.85. The firm has a market cap of $3.14 billion, a PE ratio of 29.05 and a beta of 0.94.

SolarWinds (NYSE:SWI) last released its earnings results on Wednesday, February 12th. The software maker reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.14. SolarWinds had a return on equity of 12.19% and a net margin of 14.04%. As a group, sell-side analysts forecast that SolarWinds Co. will post 0.75 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms recently commented on SWI. Robert W. Baird boosted their target price on SolarWinds from $15.00 to $18.50 and gave the stock a “neutral” rating in a research report on Monday, February 10th. Scotiabank lifted their price target on SolarWinds from $15.00 to $18.50 and gave the stock a “sector perform” rating in a research note 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 research note on Tuesday, January 21st. Truist Financial reaffirmed a “hold” rating and set a $18.50 price target (up previously from $13.00) on shares of SolarWinds in a research note on Monday, February 10th. Finally, Wedbush lowered SolarWinds from an “outperform” rating to a “neutral” rating and dropped their price target for the stock from $20.00 to $18.50 in a research note on Friday, February 7th. Five research analysts have rated the stock with a hold rating, According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $18.00.

SolarWinds 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.