24,500 Shares in SolarWinds Co. (NYSE:SWI) Bought by Zacks Investment Management

Zacks Investment Management purchased a new position in SolarWinds Co. (NYSE:SWI) in the 3rd quarter, Holdings Channel.com reports. The fund purchased 24,500 shares of the software maker’s stock, valued at approximately $320,000.

Several other hedge funds have also added to or reduced their stakes in SWI. GAMMA Investing LLC raised its stake in SolarWinds by 344.7% in the third quarter. GAMMA Investing LLC now owns 2,068 shares of the software maker’s stock worth $27,000 after buying an additional 1,603 shares in the last quarter. nVerses Capital LLC purchased a new stake in SolarWinds in the second quarter worth approximately $41,000. Allworth Financial LP raised its position in SolarWinds by 732.1% in the third quarter. Allworth Financial LP now owns 3,786 shares of the software maker’s stock worth $49,000 after acquiring an additional 3,331 shares during the period. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of SolarWinds during the 2nd quarter valued at $58,000. Finally, Allspring Global Investments Holdings LLC raised its position in shares of SolarWinds by 24.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 5,071 shares of the software maker’s stock valued at $66,000 after purchasing an additional 1,001 shares during the period. 93.96% of the stock is owned by institutional investors.

Insider Transactions at SolarWinds

In other SolarWinds news, CEO Sudhakar Ramakrishna sold 200,000 shares of the company’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $13.68, for a total value of $2,736,000.00. Following the transaction, the chief executive officer now directly owns 2,212,171 shares in the company, valued at approximately $30,262,499.28. This represents a 8.29 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jason Bliss sold 135,000 shares of the stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $13.02, for a total transaction of $1,757,700.00. Following the transaction, the insider now owns 838,789 shares in the company, valued at approximately $10,921,032.78. The trade was a 13.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 351,000 shares of company stock valued at $4,703,780 in the last ninety days. 1.95% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Robert W. Baird lifted their price target on shares of SolarWinds from $14.00 to $15.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. Scotiabank began coverage on shares of SolarWinds in a research report on Friday, September 13th. They set a “sector perform” rating and a $13.00 target price for the company. Five research analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $14.00.

SolarWinds Trading Up 0.3 %

Shares of SWI stock opened at $14.41 on Wednesday. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.71 and a current ratio of 0.71. The stock has a market capitalization of $2.46 billion, a P/E ratio of 65.50 and a beta of 0.96. The company has a 50 day moving average price of $13.23 and a 200 day moving average price of $12.52. SolarWinds Co. has a fifty-two week low of $10.14 and a fifty-two week high of $14.71.

SolarWinds (NYSE:SWI) last issued its quarterly earnings data on Thursday, October 31st. The software maker reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.02. SolarWinds had a net margin of 4.93% and a return on equity of 7.96%. The business had revenue of $200.03 million during the quarter, compared to the consensus estimate of $194.03 million. During the same quarter in the previous year, the firm earned $0.11 EPS. The company’s revenue was up 5.5% compared to the same quarter last year. Equities research analysts predict that SolarWinds Co. will post 0.74 EPS for the current fiscal year.

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.