State Street Corp Decreases Stake in SolarWinds Corp (NYSE:SWI)

State Street Corp lessened its stake in SolarWinds Corp (NYSE:SWI) by 3.3% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 549,521 shares of the software maker’s stock after selling 18,563 shares during the quarter. State Street Corp owned about 0.18% of SolarWinds worth $8,611,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SWI. First Trust Advisors LP raised its holdings in shares of SolarWinds by 0.4% during the first quarter. First Trust Advisors LP now owns 259,763 shares of the software maker’s stock worth $5,071,000 after purchasing an additional 954 shares during the period. Saturna Capital CORP grew its position in SolarWinds by 7.1% in the 1st quarter. Saturna Capital CORP now owns 15,000 shares of the software maker’s stock valued at $235,000 after buying an additional 1,000 shares in the last quarter. Bank of New York Mellon Corp grew its position in SolarWinds by 1.5% in the 4th quarter. Bank of New York Mellon Corp now owns 118,793 shares of the software maker’s stock valued at $2,203,000 after buying an additional 1,747 shares in the last quarter. Advisor Group Holdings Inc. bought a new position in SolarWinds in the 1st quarter valued at about $27,000. Finally, Wells Fargo & Company MN raised its holdings in shares of SolarWinds by 33.8% in the 1st quarter. Wells Fargo & Company MN now owns 12,255 shares of the software maker’s stock worth $192,000 after purchasing an additional 3,098 shares in the last quarter. Hedge funds and other institutional investors own 96.36% of the company’s stock.

SWI stock opened at $18.36 on Friday. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.72. The company has a market capitalization of $5.75 billion, a price-to-earnings ratio of 459.11, a P/E/G ratio of 3.77 and a beta of 1.18. SolarWinds Corp has a 12 month low of $11.50 and a 12 month high of $21.66. The firm has a 50 day moving average of $18.31 and a two-hundred day moving average of $17.56.

SolarWinds (NYSE:SWI) last posted its earnings results on Thursday, April 30th. The software maker reported $0.20 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.20. The company had revenue of $248.50 million during the quarter, compared to the consensus estimate of $240.14 million. SolarWinds had a net margin of 1.63% and a return on equity of 8.89%. The company’s revenue for the quarter was up 15.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.20 earnings per share. On average, research analysts expect that SolarWinds Corp will post 0.74 EPS for the current fiscal year.

A number of equities research analysts have recently issued reports on SWI shares. SunTrust Banks cut their price target on shares of SolarWinds from $25.00 to $21.00 and set a “buy” rating on the stock in a report on Friday, May 1st. Zacks Investment Research upgraded shares of SolarWinds from a “sell” rating to a “hold” rating in a report on Wednesday, July 1st. Royal Bank of Canada restated a “buy” rating on shares of SolarWinds in a report on Sunday, May 3rd. Goldman Sachs Group boosted their price target on shares of SolarWinds from $16.00 to $18.00 and gave the company a “sell” rating in a report on Wednesday, June 24th. They noted that the move was a valuation call. Finally, Morgan Stanley boosted their price target on shares of SolarWinds from $15.00 to $16.00 and gave the company an “equal weight” rating in a report on Friday, May 1st. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company’s stock. SolarWinds presently has a consensus rating of “Hold” and a consensus target price of $20.30.

SolarWinds Profile

SolarWinds Corporation provides information technology (IT) infrastructure management software products in the United States and internationally. It offers products to monitor and manage network, system, desktop, application, storage, and database and Website infrastructures, whether on-premise, in the public or private cloud, or in a hybrid IT infrastructure.

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Institutional Ownership by Quarter for SolarWinds (NYSE:SWI)

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