Harvey Partners LLC Takes $1.96 Million Position in SolarWinds Co. (NYSE:SWI)

Harvey Partners LLC bought a new position in SolarWinds Co. (NYSE:SWI) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 150,000 shares of the software maker’s stock, valued at approximately $1,958,000. Harvey Partners LLC owned about 0.09% of SolarWinds as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the stock. Allspring Global Investments Holdings LLC boosted its holdings in shares of SolarWinds by 24.6% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 5,071 shares of the software maker’s stock valued at $66,000 after purchasing an additional 1,001 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of SolarWinds by 344.7% in the 3rd quarter. GAMMA Investing LLC now owns 2,068 shares of the software maker’s stock worth $27,000 after purchasing an additional 1,603 shares during the period. Banque Cantonale Vaudoise lifted its stake in shares of SolarWinds by 1.2% in the 2nd quarter. Banque Cantonale Vaudoise now owns 156,382 shares of the software maker’s stock valued at $1,884,000 after purchasing an additional 1,793 shares in the last quarter. West Tower Group LLC grew its holdings in shares of SolarWinds by 38.3% during the 3rd quarter. West Tower Group LLC now owns 7,221 shares of the software maker’s stock worth $94,000 after purchasing an additional 2,000 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its position in shares of SolarWinds by 7.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 32,746 shares of the software maker’s stock worth $414,000 after acquiring an additional 2,145 shares in the last quarter. 93.96% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Insider Activity at SolarWinds

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. This trade represents a 13.86 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William G. Bock sold 16,000 shares of the firm’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $13.13, for a total value of $210,080.00. Following the transaction, the director now owns 88,857 shares in the company, valued at $1,166,692.41. This trade represents a 15.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 351,000 shares of company stock valued at $4,703,780 over the last ninety days. Corporate insiders own 1.95% of the company’s stock.

SolarWinds Stock Performance

NYSE:SWI opened at $13.57 on Tuesday. SolarWinds Co. has a 1-year low of $10.14 and a 1-year high of $14.02. The stock has a market cap of $2.31 billion, a P/E ratio of 61.68 and a beta of 0.96. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.71 and a quick ratio of 0.71. The firm has a 50-day moving average of $13.03 and a two-hundred day moving average of $12.41.

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

SolarWinds 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.