Cornercap Investment Counsel Inc. Has $583,000 Stock Position in SolarWinds Co. (NYSE:SWI)

Cornercap Investment Counsel Inc. reduced its holdings in SolarWinds Co. (NYSE:SWI) by 18.7% in the 4th quarter, HoldingsChannel reports. The fund owned 46,665 shares of the software maker’s stock after selling 10,729 shares during the period. Cornercap Investment Counsel Inc.’s holdings in SolarWinds were worth $583,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SWI. Bank of New York Mellon Corp increased its position in SolarWinds by 11.3% in the 1st quarter. Bank of New York Mellon Corp now owns 287,116 shares of the software maker’s stock valued at $3,821,000 after acquiring an additional 29,063 shares during the period. US Bancorp DE increased its position in SolarWinds by 3,591.5% in the 1st quarter. US Bancorp DE now owns 4,762 shares of the software maker’s stock valued at $64,000 after acquiring an additional 4,633 shares during the period. Bank of Montreal Can acquired a new position in SolarWinds in the 1st quarter valued at approximately $1,682,000. BlackRock Inc. increased its position in SolarWinds by 31.0% in the 1st quarter. BlackRock Inc. now owns 2,243,244 shares of the software maker’s stock valued at $29,857,000 after acquiring an additional 531,131 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in SolarWinds by 113.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,088,937 shares of the software maker’s stock valued at $14,494,000 after acquiring an additional 577,938 shares during the period. 93.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

SolarWinds Price Performance

NYSE:SWI opened at $10.58 on Wednesday. SolarWinds Co. has a 52 week low of $8.06 and a 52 week high of $13.43. The firm’s fifty day moving average is $12.11 and its 200-day moving average is $11.47. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.83.

SolarWinds (NYSE:SWI) last issued its earnings results on Thursday, February 8th. The software maker reported $0.12 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.12. The business had revenue of $198.14 million for the quarter, compared to analyst estimates of $190.54 million. SolarWinds had a negative net margin of 1.20% and a positive return on equity of 5.08%. On average, equities analysts forecast that SolarWinds Co. will post 0.62 earnings per share for the current year.

SolarWinds Dividend Announcement

The business also recently announced a dividend, which was paid on Monday, April 15th. Investors of record on Wednesday, April 3rd were paid a dividend of $1.00 per share. 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.