Northern Trust Corp Grows Stock Position in N-able, Inc. (NYSE:NABL)

Northern Trust Corp lifted its position in N-able, Inc. (NYSE:NABL - Free Report) by 8.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 713,385 shares of the company's stock after acquiring an additional 56,072 shares during the period. Northern Trust Corp owned 0.38% of N-able worth $6,663,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in N-able by 1.8% during the 4th quarter. Vanguard Group Inc. now owns 9,330,440 shares of the company's stock worth $87,146,000 after purchasing an additional 161,725 shares during the period. Crescent Park Management L.P. grew its position in N-able by 32.0% during the 4th quarter. Crescent Park Management L.P. now owns 947,984 shares of the company's stock worth $8,854,000 after purchasing an additional 229,943 shares during the period. Bank of New York Mellon Corp grew its position in N-able by 3.5% during the 4th quarter. Bank of New York Mellon Corp now owns 487,320 shares of the company's stock worth $4,552,000 after purchasing an additional 16,253 shares during the period. Barclays PLC boosted its stake in shares of N-able by 398.2% during the 3rd quarter. Barclays PLC now owns 143,095 shares of the company's stock worth $1,869,000 after acquiring an additional 114,374 shares in the last quarter. Finally, Topline Capital Management LLC purchased a new stake in shares of N-able during the 4th quarter worth about $966,000. 96.35% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on NABL shares. BMO Capital Markets reissued a "market perform" rating and set a $8.50 target price (down from $13.50) on shares of N-able in a research note on Tuesday, March 4th. Royal Bank of Canada decreased their price target on shares of N-able from $12.00 to $10.00 and set an "outperform" rating on the stock in a research note on Tuesday, March 4th. William Blair reaffirmed an "outperform" rating on shares of N-able in a research note on Friday, March 14th. Needham & Company LLC reaffirmed a "buy" rating and issued a $10.00 price target on shares of N-able in a research note on Monday, May 5th. Finally, Scotiabank raised their price target on shares of N-able from $8.75 to $9.00 and gave the company a "sector perform" rating in a research note on Friday, March 14th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, N-able has an average rating of "Moderate Buy" and a consensus price target of $9.38.

N-able Price Performance

NABL traded down $0.04 during trading on Friday, reaching $7.73. The company's stock had a trading volume of 995,441 shares, compared to its average volume of 772,615. The company has a quick ratio of 3.01, a current ratio of 3.01 and a debt-to-equity ratio of 0.43. The firm has a fifty day simple moving average of $7.17 and a two-hundred day simple moving average of $8.80. N-able, Inc. has a 1 year low of $6.07 and a 1 year high of $15.49. The company has a market cap of $1.46 billion, a price-to-earnings ratio of 38.63 and a beta of 0.57.

N-able (NYSE:NABL - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported $0.08 earnings per share for the quarter, topping analysts' consensus estimates of $0.06 by $0.02. N-able had a net margin of 8.08% and a return on equity of 6.31%. The business had revenue of $118.20 million for the quarter, compared to analyst estimates of $115.65 million. During the same period last year, the company posted $0.11 EPS. The business's revenue was up 4.0% on a year-over-year basis. As a group, analysts anticipate that N-able, Inc. will post 0.27 EPS for the current year.

N-able announced that its board has approved a stock buyback plan on Wednesday, March 12th that permits the company to buyback $75.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 5.7% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's board believes its shares are undervalued.

N-able Company Profile

N-able, Inc provides cloud-based software solutions for managed service providers in the United States, the United Kingdom, and internationally. The company's solutions enable MSPs to support digital transformation and growth within small and medium-sized enterprises. It provides software platform designed to be an integrated, enterprise-grade solution that serves as an operating system for its MSP partners and scales as their businesses grow.