ABS Direct Equity Fund LLC Purchases New Position in SolarWinds Co. (NYSE:SWI)

ABS Direct Equity Fund LLC purchased a new position in SolarWinds Co. (NYSE:SWI) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 200,000 shares of the software maker’s stock, valued at approximately $2,498,000. SolarWinds accounts for about 2.4% of ABS Direct Equity Fund LLC’s investment portfolio, making the stock its 12th biggest holding.

Several other institutional investors also recently bought and sold shares of SWI. New York State Teachers Retirement System purchased a new position in shares of SolarWinds during the 4th quarter valued at approximately $57,000. Allspring Global Investments Holdings LLC raised its position in SolarWinds by 118.1% during the third quarter. Allspring Global Investments Holdings LLC now owns 5,461 shares of the software maker’s stock worth $52,000 after acquiring an additional 2,957 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in SolarWinds by 185.0% during 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 in the last quarter. AXQ Capital LP purchased a new position in SolarWinds during the third quarter valued at $103,000. Finally, Barclays PLC grew its position in shares of SolarWinds by 9.7% in the third quarter. Barclays PLC now owns 20,820 shares of the software maker’s stock valued at $197,000 after purchasing an additional 1,842 shares during the period. 93.96% of the stock is owned by institutional investors and hedge funds.

SolarWinds Trading Up 1.0 %

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

SolarWinds (NYSE:SWI) last issued its quarterly earnings data on Thursday, February 8th. The software maker reported $0.12 earnings per share for the quarter, hitting the consensus estimate of $0.12. SolarWinds had a return on equity of 6.33% and a net margin of 1.58%. The company had revenue of $198.14 million during the quarter, compared to analyst estimates of $190.54 million. As a group, equities analysts expect that SolarWinds Co. will post 0.62 earnings per share for the current year.

SolarWinds Announces Dividend

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

Analyst Ratings Changes

Several research analysts recently weighed in on SWI shares. JPMorgan Chase & Co. began coverage on shares of SolarWinds in a research report on Thursday, February 1st. They set a “neutral” rating and a $14.00 price target for the company. Truist Financial assumed coverage on shares of SolarWinds in a research note on Wednesday, March 6th. They set a “hold” rating and a $13.00 target price on the stock. Finally, Royal Bank of Canada increased their target price 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. Four analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $13.50.

About SolarWinds

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.