Connor Clark & Lunn Investment Management Ltd. Boosts Stake in SolarWinds Co. (NYSE:SWI)

Connor Clark & Lunn Investment Management Ltd. increased its stake in SolarWinds Co. (NYSE:SWI) by 4.7% in the 3rd quarter, Holdings Channel reports. The fund owned 566,204 shares of the software maker’s stock after buying an additional 25,416 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in SolarWinds were worth $7,389,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. ProShare Advisors LLC boosted its holdings in shares of SolarWinds by 14.4% in the 1st quarter. ProShare Advisors LLC now owns 12,420 shares of the software maker’s stock worth $157,000 after purchasing an additional 1,565 shares in the last quarter. Ameritas Investment Partners Inc. purchased a new stake in SolarWinds in the first quarter worth approximately $62,000. Price T Rowe Associates Inc. MD grew its position in SolarWinds by 7.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 32,746 shares of the software maker’s stock valued at $414,000 after acquiring an additional 2,145 shares during the last quarter. Public Employees Retirement System of Ohio raised its stake in shares of SolarWinds by 7.0% during the first quarter. Public Employees Retirement System of Ohio now owns 54,944 shares of the software maker’s stock worth $693,000 after acquiring an additional 3,575 shares in the last quarter. Finally, Boston Partners bought a new stake in shares of SolarWinds in the 1st quarter worth approximately $1,084,000. Institutional investors own 93.96% of the company’s stock.

Analyst Upgrades and Downgrades

SWI has been the topic of several recent research reports. Robert W. Baird increased their target price on shares of SolarWinds from $14.00 to $15.00 and gave the company a “neutral” rating in a report on Friday, November 1st. Scotiabank assumed coverage on shares of SolarWinds in a report on Friday, September 13th. They issued a “sector perform” rating and a $13.00 target price on the stock. Five research analysts have rated the stock with a hold rating, According to data from MarketBeat, SolarWinds presently has an average rating of “Hold” and an average target price of $14.00.

Insider Buying and Selling at SolarWinds

In other news, CEO Sudhakar Ramakrishna sold 200,000 shares of the business’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $13.68, for a total transaction of $2,736,000.00. Following the sale, the chief executive officer now owns 2,212,171 shares in the company, valued at approximately $30,262,499.28. The trade was a 8.29 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director William G. Bock sold 16,000 shares of the stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $13.13, for a total transaction of $210,080.00. Following the completion of the transaction, the director now owns 88,857 shares of the company’s stock, valued at approximately $1,166,692.41. The trade was a 15.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 351,000 shares of company stock valued at $4,703,780. 1.95% of the stock is currently owned by corporate insiders.

SolarWinds Price Performance

Shares of SWI stock opened at $13.27 on Friday. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.71 and a current ratio of 0.71. SolarWinds Co. has a fifty-two week low of $10.14 and a fifty-two week high of $14.02. The firm has a market cap of $2.26 billion, a P/E ratio of 60.30 and a beta of 0.96. The business’s 50 day moving average price is $12.98 and its 200-day moving average price is $12.35.

SolarWinds (NYSE:SWI) last issued its quarterly earnings data on Thursday, October 31st. The software maker reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $0.02. The business had revenue of $200.03 million for the quarter, compared to the consensus estimate of $194.03 million. SolarWinds had a net margin of 4.93% and a return on equity of 7.96%. The company’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.11 EPS. On average, equities research analysts anticipate that SolarWinds Co. will post 0.74 earnings per share for the current year.

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.