Allspring Global Investments Holdings LLC Boosts Holdings in SolarWinds Co. (NYSE:SWI)

Allspring Global Investments Holdings LLC increased its position in shares of SolarWinds Co. (NYSE:SWI) by 51.8% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 8,290 shares of the software maker’s stock after buying an additional 2,829 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in SolarWinds were worth $104,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. SG Americas Securities LLC acquired a new stake in SolarWinds during the third quarter worth $214,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of SolarWinds by 185.0% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,925 shares of the software maker’s stock worth $84,000 after purchasing an additional 5,793 shares during the period. Teacher Retirement System of Texas acquired a new stake in shares of SolarWinds during the 3rd quarter worth about $495,000. Jackson Creek Investment Advisors LLC purchased a new stake in SolarWinds in the 3rd quarter valued at about $791,000. Finally, Victory Capital Management Inc. lifted its position in SolarWinds by 33.9% in the third quarter. Victory Capital Management Inc. now owns 134,486 shares of the software maker’s stock valued at $1,270,000 after buying an additional 34,074 shares during the last quarter. Hedge funds and other institutional investors own 93.96% of the company’s stock.

Wall Street Analyst Weigh In

SWI has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. assumed 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 started coverage on shares of SolarWinds in a report on Wednesday, March 6th. They issued a “hold” rating and a $13.00 target price for the company. Finally, Royal Bank of Canada boosted their target price on SolarWinds from $13.00 to $15.00 and gave the company a “sector perform” rating in a research report on Friday, February 9th. Four research analysts have rated the stock with a hold rating, According to data from MarketBeat, SolarWinds currently has an average rating of “Hold” and a consensus target price of $13.50.

SolarWinds Stock Up 0.3 %

Shares of NYSE:SWI opened at $11.12 on Monday. The firm’s 50-day moving average is $11.81 and its two-hundred day moving average is $11.56. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.90 and a quick ratio of 0.90. SolarWinds Co. has a 1 year low of $8.39 and a 1 year high of $13.43. The firm has a market capitalization of $1.87 billion, a PE ratio of -222.40 and a beta of 0.97.

SolarWinds (NYSE:SWI) last announced its earnings results 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 negative net margin of 1.20% and a positive return on equity of 5.08%. The firm had revenue of $198.14 million for the quarter, compared to the consensus estimate of $190.54 million. Analysts predict that SolarWinds Co. will post 0.62 EPS 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 issued a $1.00 dividend. The ex-dividend date was Tuesday, April 2nd.

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.