Federated Hermes Inc. reduced its holdings in SolarWinds Co. (NYSE:SWI - Free Report) by 11.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 571,443 shares of the software maker's stock after selling 74,265 shares during the period. Federated Hermes Inc. owned about 0.34% of SolarWinds worth $7,137,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. SG Americas Securities LLC acquired a new position in SolarWinds in the third quarter valued at approximately $214,000. Voss Capital LLC lifted its stake in shares of SolarWinds by 111.5% in the 3rd quarter. Voss Capital LLC now owns 1,168,839 shares of the software maker's stock valued at $11,034,000 after purchasing an additional 616,274 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of SolarWinds by 185.0% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,925 shares of the software maker's stock worth $84,000 after purchasing an additional 5,793 shares during the period. Allspring Global Investments Holdings LLC increased its position in shares of SolarWinds by 118.1% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 5,461 shares of the software maker's stock worth $52,000 after purchasing an additional 2,957 shares during the last quarter. Finally, Teacher Retirement System of Texas purchased a new stake in SolarWinds in the 3rd quarter valued at about $495,000. Hedge funds and other institutional investors own 93.96% of the company's stock.
Wall Street Analyst Weigh In
SWI has been the subject of several research analyst reports. JPMorgan Chase & Co. assumed coverage on shares of SolarWinds in a research note on Thursday, February 1st. They set a "neutral" rating and a $14.00 target price for the company. Royal Bank of Canada upped their price objective on shares of SolarWinds from $13.00 to $15.00 and gave the stock a "sector perform" rating in a report on Friday, February 9th. Finally, Truist Financial began coverage on shares of SolarWinds in a report on Wednesday, March 6th. They issued a "hold" rating and a $13.00 target price for the company. Four investment analysts have rated the stock with a hold rating, According to MarketBeat.com, SolarWinds presently has an average rating of "Hold" and a consensus price target of $13.50.
Get Our Latest Research Report on SolarWinds
SolarWinds Stock Performance
SolarWinds stock traded down $0.20 during midday trading on Thursday, hitting $11.09. 283,303 shares of the company's stock were exchanged, compared to its average volume of 446,546. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.90 and a current ratio of 0.90. SolarWinds Co. has a 12-month low of $8.06 and a 12-month high of $13.43. The firm's 50 day simple moving average is $11.88 and its 200 day simple moving average is $11.53. The stock has a market cap of $1.86 billion, a price-to-earnings ratio of -225.80 and a beta of 0.97.
SolarWinds (NYSE:SWI - Get Free Report) last posted its quarterly earnings data on Thursday, February 8th. The software maker reported $0.12 earnings per share for the quarter, hitting analysts' consensus estimates of $0.12. The company had revenue of $198.14 million during the quarter, compared to analysts' expectations of $190.54 million. SolarWinds had a positive return on equity of 5.08% and a negative net margin of 1.20%. Equities research analysts predict that SolarWinds Co. will post 0.62 EPS for the current year.
SolarWinds Announces Dividend
The company also recently declared a dividend, which was paid on Monday, April 15th. Investors of record on Wednesday, April 3rd were issued a dividend of $1.00 per share. The ex-dividend date of this dividend was Tuesday, April 2nd.
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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