200,000 Shares in SolarWinds Co. (NYSE:SWI) Acquired by ABS Direct Equity Fund LLC

ABS Direct Equity Fund LLC acquired a new stake in shares of SolarWinds Co. (NYSE:SWI) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 200,000 shares of the software maker’s stock, valued at approximately $2,498,000. SolarWinds accounts for approximately 2.4% of ABS Direct Equity Fund LLC’s investment portfolio, making the stock its 12th largest holding. ABS Direct Equity Fund LLC owned 0.12% of SolarWinds as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of SWI. New York State Teachers Retirement System bought a new position in shares of SolarWinds during the 4th quarter worth $57,000. Allspring Global Investments Holdings LLC increased its stake in shares of SolarWinds by 118.1% in the third 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 in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of SolarWinds by 185.0% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,925 shares of the software maker’s stock valued at $84,000 after purchasing an additional 5,793 shares during the period. AXQ Capital LP purchased a new stake in shares of SolarWinds during the 3rd quarter valued at approximately $103,000. Finally, Barclays PLC grew its stake in SolarWinds by 9.7% in the 3rd quarter. Barclays PLC now owns 20,820 shares of the software maker’s stock valued at $197,000 after buying an additional 1,842 shares in the last quarter. 93.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently issued reports on SWI. Royal Bank of Canada boosted their price objective on SolarWinds from $13.00 to $15.00 and gave the company a “sector perform” rating in a research note on Friday, February 9th. JPMorgan Chase & Co. initiated coverage on shares of SolarWinds in a research report on Thursday, February 1st. They issued a “neutral” rating and a $14.00 price objective for the company. Finally, Truist Financial initiated coverage on shares of SolarWinds in a report on Wednesday, March 6th. They set a “hold” rating and a $13.00 target price on the stock. Four investment analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $13.50.

SolarWinds Price Performance

SWI stock traded up $0.12 during midday trading on Friday, reaching $11.70. The company had a trading volume of 501,850 shares, compared to its average volume of 414,434. The firm has a 50-day moving average price of $11.73 and a 200-day moving average price of $11.60. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.90 and a quick ratio of 0.90. The company has a market capitalization of $1.97 billion, a P/E ratio of 167.14 and a beta of 0.97. SolarWinds Co. has a 1 year low of $8.50 and a 1 year high of $13.43.

SolarWinds (NYSE:SWI) last released its earnings results on Thursday, February 8th. The software maker reported $0.12 EPS for the quarter, meeting analysts’ consensus estimates of $0.12. SolarWinds had a return on equity of 6.33% and a net margin of 1.58%. The business had revenue of $198.14 million for the quarter, compared to analysts’ expectations of $190.54 million. On average, research analysts anticipate that SolarWinds Co. will post 0.62 earnings per share for the current fiscal year.

SolarWinds Announces Dividend

The company also recently announced a dividend, which was paid on Monday, April 15th. Shareholders of record on Wednesday, April 3rd were paid a $1.00 dividend. The ex-dividend date was Tuesday, April 2nd.

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.