Comerica Bank Boosts Holdings in N-able, Inc. (NYSE:NABL)

Comerica Bank boosted its holdings in N-able, Inc. (NYSE:NABL) by 14.7% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 27,940 shares of the company’s stock after buying an additional 3,574 shares during the quarter. Comerica Bank’s holdings in N-able were worth $261,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Vanguard Group Inc. grew its stake in shares of N-able by 1.8% during the 4th quarter. Vanguard Group Inc. now owns 9,330,440 shares of the company’s stock valued at $87,146,000 after acquiring an additional 161,725 shares during the period. Dimensional Fund Advisors LP raised its holdings in N-able by 5.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,529,875 shares of the company’s stock valued at $32,969,000 after buying an additional 179,305 shares during the period. Applied Fundamental Research LLC raised its holdings in N-able by 32.8% during the 4th quarter. Applied Fundamental Research LLC now owns 1,083,033 shares of the company’s stock valued at $10,116,000 after buying an additional 267,399 shares during the period. Legal & General Group Plc increased its stake in N-able by 9.3% in the fourth quarter. Legal & General Group Plc now owns 1,074,348 shares of the company’s stock worth $10,034,000 after purchasing an additional 91,613 shares during the period. Finally, Crescent Park Management L.P. increased its stake in N-able by 32.0% in the fourth quarter. Crescent Park Management L.P. now owns 947,984 shares of the company’s stock worth $8,854,000 after purchasing an additional 229,943 shares during the period. Hedge funds and other institutional investors own 96.35% of the company’s stock.

N-able Stock Up 2.0%

Shares of NABL opened at $8.32 on Friday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 3.01 and a current ratio of 3.01. The stock has a 50 day moving average price of $7.15 and a 200 day moving average price of $8.96. The stock has a market capitalization of $1.57 billion, a price-to-earnings ratio of 41.58 and a beta of 0.57. N-able, Inc. has a one year low of $6.07 and a one year high of $15.49.

N-able (NYSE:NABL) last announced its quarterly earnings results on Thursday, May 8th. The company reported $0.08 EPS for the quarter, beating the consensus estimate of $0.06 by $0.02. N-able had a return on equity of 6.31% and a net margin of 8.08%. The business had revenue of $118.20 million for the quarter, compared to analyst estimates of $115.65 million. During the same quarter in the prior year, the company posted $0.11 EPS. The company’s quarterly revenue was up 4.0% on a year-over-year basis. Equities research analysts forecast that N-able, Inc. will post 0.27 earnings per share for the current fiscal year.

N-able announced that its board has initiated a stock buyback plan on Wednesday, March 12th that permits the company to repurchase $75.00 million in outstanding shares. This repurchase authorization permits the company to reacquire up to 5.7% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on NABL shares. Royal Bank of Canada dropped their price target on N-able from $12.00 to $10.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 4th. Scotiabank lifted their target price on N-able from $8.75 to $9.00 and gave the stock a “sector perform” rating in a report on Friday, March 14th. BMO Capital Markets reaffirmed a “market perform” rating and set a $8.50 target price (down previously from $13.50) on shares of N-able in a report on Tuesday, March 4th. Needham & Company LLC reiterated a “buy” rating and set a $10.00 price target on shares of N-able in a research report on Monday, May 5th. Finally, William Blair restated an “outperform” rating on shares of N-able in a research report on Friday, March 14th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $9.38.

N-able Company Profile

N-able, Inc provides cloud-based software solutions for managed service providers in the United States, the United Kingdom, and internationally. The company's solutions enable MSPs to support digital transformation and growth within small and medium-sized enterprises. It provides software platform designed to be an integrated, enterprise-grade solution that serves as an operating system for its MSP partners and scales as their businesses grow.