Federated Hermes Inc. trimmed its holdings in shares of SolarWinds Co. (NYSE:SWI - Free Report) by 89.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 60,625 shares of the software maker's stock after selling 491,428 shares during the period. Federated Hermes Inc.'s holdings in SolarWinds were worth $864,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also modified their holdings of the business. Wellington Management Group LLP grew its holdings in shares of SolarWinds by 93.3% during the fourth quarter. Wellington Management Group LLP now owns 2,174,522 shares of the software maker's stock valued at $30,987,000 after purchasing an additional 1,049,310 shares during the last quarter. Fisher Asset Management LLC acquired a new stake in SolarWinds in the fourth quarter worth $13,886,000. State Street Corp boosted its holdings in shares of SolarWinds by 57.5% during the third quarter. State Street Corp now owns 2,193,026 shares of the software maker's stock valued at $28,619,000 after acquiring an additional 800,467 shares during the period. Arrowstreet Capital Limited Partnership grew its position in shares of SolarWinds by 167.4% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 912,946 shares of the software maker's stock worth $13,009,000 after acquiring an additional 571,539 shares during the last quarter. Finally, Venturi Wealth Management LLC bought a new stake in SolarWinds in the 4th quarter valued at about $7,446,000. 93.96% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of research firms have recently weighed in on SWI. Robert W. Baird lifted their price target on SolarWinds from $15.00 to $18.50 and gave the company a "neutral" rating in a report on Monday, February 10th. Royal Bank of Canada boosted their price target on SolarWinds from $13.00 to $16.00 and gave the stock a "sector perform" rating in a research report on Tuesday, January 21st. Truist Financial restated a "hold" rating and set a $18.50 price objective (up from $13.00) on shares of SolarWinds in a research note on Monday, February 10th. Scotiabank increased their target price on shares of SolarWinds from $15.00 to $18.50 and gave the company a "sector perform" rating in a research report on Monday, February 10th. Finally, Wedbush downgraded shares of 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 report on Friday, February 7th. Five research analysts have rated the stock with a hold rating, According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $18.00.
Check Out Our Latest Stock Analysis on SWI
SolarWinds Stock Performance
Shares of SWI remained flat at $18.49 during mid-day trading on Monday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.71 and a current ratio of 0.85. The stock has a 50-day simple moving average of $18.38 and a two-hundred day simple moving average of $15.53. SolarWinds Co. has a one year low of $10.14 and a one year high of $18.55. The company has a market capitalization of $3.20 billion, a P/E ratio of 29.35 and a beta of 0.88.
SolarWinds (NYSE:SWI - Get Free Report) last posted its quarterly earnings results on Wednesday, February 12th. The software maker reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate 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 anticipate that SolarWinds Co. will post 0.75 EPS for the current year.
About SolarWinds
(
Free Report)
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.
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