SolarWinds (NYSE:SWI) Sees Large Volume Increase – Here’s What Happened

SolarWinds Co. (NYSE:SWI) shares saw strong trading volume on Wednesday . 1,357,225 shares changed hands during trading, an increase of 66% from the previous session’s volume of 817,661 shares.The stock last traded at $18.48 and had previously closed at $18.37.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Truist Financial reiterated a “hold” rating and set a $18.50 price objective (up from $13.00) on shares of SolarWinds in a research note on Monday, February 10th. Royal Bank of Canada boosted their price target on SolarWinds from $13.00 to $16.00 and gave the company a “sector perform” rating in a research note on Tuesday, January 21st. Wedbush cut SolarWinds from an “outperform” rating to a “neutral” rating and reduced their price objective for the stock from $20.00 to $18.50 in a research note on Friday, February 7th. Scotiabank lifted their target price on SolarWinds from $15.00 to $18.50 and gave the stock a “sector perform” rating in a report on Monday, February 10th. Finally, Robert W. Baird raised their price target on shares of SolarWinds from $15.00 to $18.50 and gave the stock a “neutral” rating in a research report on Monday, February 10th. Five equities research analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $18.00.

SolarWinds Stock Up 0.6 %

The company has a quick ratio of 0.71, a current ratio of 0.85 and a debt-to-equity ratio of 0.85. The business has a 50-day simple moving average of $17.95 and a 200-day simple moving average of $15.13. The company has a market cap of $3.20 billion, a PE ratio of 29.33 and a beta of 0.88.

SolarWinds (NYSE:SWI) last posted its quarterly earnings data on Wednesday, February 12th. The software maker reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.14. SolarWinds had a return on equity of 12.19% and a net margin of 14.04%. Equities research analysts anticipate that SolarWinds Co. will post 0.75 EPS for the current year.

Hedge Funds Weigh In On SolarWinds

Large investors have recently modified their holdings of the business. Barclays PLC lifted its position in SolarWinds by 170.1% in the third quarter. Barclays PLC now owns 94,530 shares of the software maker’s stock valued at $1,233,000 after buying an additional 59,532 shares during the last quarter. Fisher Asset Management LLC acquired a new position in shares of SolarWinds in the 4th quarter worth approximately $13,886,000. Pacer Advisors Inc. boosted its position in shares of SolarWinds by 18.5% during the 4th quarter. Pacer Advisors Inc. now owns 16,470 shares of the software maker’s stock worth $235,000 after purchasing an additional 2,574 shares during the period. State Street Corp increased its holdings in SolarWinds by 57.5% in the 3rd quarter. State Street Corp now owns 2,193,026 shares of the software maker’s stock valued at $28,619,000 after purchasing an additional 800,467 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in SolarWinds by 3.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 471,196 shares of the software maker’s stock valued at $6,715,000 after purchasing an additional 16,742 shares during the period. Institutional investors and hedge funds own 93.96% of the company’s stock.

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.