New York State Teachers Retirement System Buys New Stake in SolarWinds Co. (NYSE:SWI)

New York State Teachers Retirement System bought a new stake in SolarWinds Co. (NYSE:SWI) during the fourth quarter, according to its most recent filing with the SEC. The firm bought 4,581 shares of the software maker’s stock, valued at approximately $57,000.

Other hedge funds have also recently bought and sold shares of the company. Tower Research Capital LLC TRC boosted its holdings in SolarWinds by 96.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,517 shares of the software maker’s stock valued at $26,000 after purchasing an additional 1,237 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in SolarWinds in the 2nd quarter valued at $32,000. US Bancorp DE boosted its holdings in SolarWinds by 3,591.5% in the 1st quarter. US Bancorp DE now owns 4,762 shares of the software maker’s stock valued at $64,000 after purchasing an additional 4,633 shares during the period. Ensign Peak Advisors Inc bought a new stake in SolarWinds in the 3rd quarter valued at $40,000. Finally, Allspring Global Investments Holdings LLC boosted its holdings in SolarWinds by 118.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 5,461 shares of the software maker’s stock valued at $52,000 after purchasing an additional 2,957 shares during the period. 93.96% of the stock is owned by institutional investors.

SolarWinds Trading Up 0.1 %

Shares of SWI stock opened at $10.90 on Friday. SolarWinds Co. has a 12-month low of $8.06 and a 12-month high of $13.43. The company has a market capitalization of $1.83 billion, a P/E ratio of -217.90 and a beta of 0.97. The firm has a 50-day moving average price of $11.99 and a 200 day moving average price of $11.48. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.83.

SolarWinds (NYSE:SWI) last announced its quarterly earnings results on Thursday, February 8th. The software maker reported $0.12 earnings per share (EPS) for the quarter, meeting 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 during the quarter, compared to the consensus estimate of $190.54 million. Research analysts forecast that SolarWinds Co. will post 0.62 earnings per share for the current fiscal year.

SolarWinds Announces Dividend

The business also recently disclosed a dividend, which was paid on Monday, April 15th. Shareholders of record on Wednesday, April 3rd were given a $1.00 dividend. The ex-dividend date of this dividend was Tuesday, April 2nd.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. JPMorgan Chase & Co. assumed coverage on shares of SolarWinds in a report on Thursday, February 1st. They set a “neutral” rating and a $14.00 price objective for the company. Truist Financial assumed coverage on shares of SolarWinds in a report on Wednesday, March 6th. They set a “hold” rating and a $13.00 price objective for the company. Finally, Royal Bank of Canada raised their price objective on shares of SolarWinds from $13.00 to $15.00 and gave the stock a “sector perform” rating in a report on Friday, February 9th. Four analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $13.50.

About SolarWinds

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.