SolarWinds (NYSE:SWI) Price Target Raised to $15.00

SolarWinds (NYSE:SWI) had its price objective lifted by Scotiabank from $13.00 to $15.00 in a research report sent to investors on Tuesday morning,Benzinga reports. Scotiabank currently has a sector perform rating on the software maker’s stock.

Other research analysts also recently issued research reports about the company. Wedbush began coverage on SolarWinds in a research note on Thursday, December 19th. They set an “outperform” rating and a $20.00 price target on the stock. Royal Bank of Canada raised their target price on shares of SolarWinds from $13.00 to $16.00 and gave the stock a “sector perform” rating in a research report on Tuesday. Finally, Robert W. Baird upped their price target on shares of SolarWinds from $14.00 to $15.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $15.50.

SolarWinds Stock Performance

Shares of SolarWinds stock opened at $14.62 on Tuesday. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.88. SolarWinds has a 52 week low of $10.14 and a 52 week high of $14.94. The firm’s 50 day moving average is $14.01 and its two-hundred day moving average is $13.06. The firm has a market capitalization of $2.49 billion, a P/E ratio of 66.44 and a beta of 0.94.

SolarWinds (NYSE:SWI) last posted its earnings results on Thursday, October 31st. The software maker reported $0.27 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.02. SolarWinds had a net margin of 4.93% and a return on equity of 7.96%. The firm had revenue of $200.03 million for the quarter, compared to the consensus estimate of $194.03 million. During the same period last year, the firm posted $0.11 EPS. The company’s revenue was up 5.5% on a year-over-year basis. Research analysts forecast that SolarWinds will post 0.74 EPS for the current fiscal year.

Insider Buying and Selling at SolarWinds

In related news, insider Jason Bliss sold 135,000 shares of the company’s stock in a transaction on 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 of the company’s stock, valued at $10,921,032.78. This represents a 13.86 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Sudhakar Ramakrishna sold 200,000 shares of the firm’s stock in a transaction on 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 completion of the sale, the chief executive officer now directly owns 2,212,171 shares of the company’s stock, valued at approximately $30,262,499.28. This trade represents a 8.29 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 351,000 shares of company stock valued at $4,703,780. 1.95% of the stock is owned by company insiders.

Hedge Funds Weigh In On SolarWinds

A number of large investors have recently made changes to their positions in the stock. R Squared Ltd acquired a new position in SolarWinds during the fourth quarter worth about $38,000. Pacer Advisors Inc. grew its holdings in shares of SolarWinds by 18.5% in the 4th quarter. Pacer Advisors Inc. now owns 16,470 shares of the software maker’s stock worth $235,000 after acquiring an additional 2,574 shares during the period. Principal Financial Group Inc. purchased a new position in SolarWinds in the 3rd quarter valued at approximately $3,673,000. Franklin Resources Inc. increased its stake in SolarWinds by 6.2% in the 3rd quarter. Franklin Resources Inc. now owns 29,995 shares of the software maker’s stock valued at $386,000 after purchasing an additional 1,760 shares in the last quarter. Finally, Barclays PLC raised its holdings in SolarWinds by 170.1% during the third quarter. Barclays PLC now owns 94,530 shares of the software maker’s stock worth $1,233,000 after purchasing an additional 59,532 shares during the last quarter. Hedge funds and other institutional investors own 93.96% of the company’s stock.

SolarWinds Company 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.