Meritage Portfolio Management Acquires 2,645 Shares of SolarWinds Co. (NYSE:SWI)

Meritage Portfolio Management raised its holdings in shares of SolarWinds Co. (NYSE:SWI) by 10.5% in the third quarter, Holdings Channel reports. The institutional investor owned 27,873 shares of the software maker’s stock after acquiring an additional 2,645 shares during the period. Meritage Portfolio Management’s holdings in SolarWinds were worth $364,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of SWI. Boston Partners purchased a new position in SolarWinds during the first quarter valued at $1,084,000. Brandes Investment Partners LP lifted its position in shares of SolarWinds by 12.3% during the 2nd quarter. Brandes Investment Partners LP now owns 371,636 shares of the software maker’s stock valued at $4,424,000 after buying an additional 40,643 shares in the last quarter. 272 Capital LP bought a new position in shares of SolarWinds during the 2nd quarter valued at approximately $5,032,000. Allspring Global Investments Holdings LLC increased its holdings in SolarWinds by 28.3% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 10,633 shares of the software maker’s stock worth $134,000 after acquiring an additional 2,343 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in SolarWinds by 8.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 5,776,309 shares of the software maker’s stock worth $69,603,000 after acquiring an additional 461,061 shares during the period. Hedge funds and other institutional investors own 93.96% of the company’s stock.

SolarWinds Stock Performance

SWI opened at $13.47 on Tuesday. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.62 and a current ratio of 0.71. The stock has a market capitalization of $2.30 billion, a price-to-earnings ratio of 61.23 and a beta of 0.96. The company has a fifty day moving average of $12.82 and a 200 day moving average of $12.25. SolarWinds Co. has a fifty-two week low of $10.14 and a fifty-two week high of $14.02.

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

Insider Transactions at SolarWinds

In related news, Director William G. Bock sold 16,000 shares of the business’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $13.13, for a total value of $210,080.00. Following the sale, the director now owns 88,857 shares in the company, valued at approximately $1,166,692.41. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, insider Jason Bliss sold 135,000 shares of SolarWinds stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $13.02, for a total value of $1,757,700.00. Following the completion of the transaction, the insider now owns 838,789 shares in the company, valued at approximately $10,921,032.78. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William G. Bock sold 16,000 shares of the stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $13.13, for a total value of $210,080.00. Following the sale, the director now owns 88,857 shares in the company, valued at $1,166,692.41. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 351,000 shares of company stock valued at $4,703,780 in the last ninety days. Corporate insiders own 1.95% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on SWI. Scotiabank assumed coverage on shares of SolarWinds in a research note on Friday, September 13th. They issued a “sector perform” rating and a $13.00 price objective for the company. Robert W. Baird raised their price target on SolarWinds from $14.00 to $15.00 and gave the company a “neutral” rating in a report on Friday, November 1st. Five research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $14.00.

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.