Cornercap Investment Counsel Inc. Takes Position in SolarWinds Co. (NYSE:SWI)

Cornercap Investment Counsel Inc. purchased a new stake in shares of SolarWinds Co. (NYSE:SWI) during the third quarter, Holdings Channel.com reports. The firm purchased 22,565 shares of the software maker’s stock, valued at approximately $294,000.

Other large investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC increased its stake in SolarWinds by 344.7% in the 3rd quarter. GAMMA Investing LLC now owns 2,068 shares of the software maker’s stock valued at $27,000 after buying an additional 1,603 shares during the period. nVerses Capital LLC bought a new stake in SolarWinds in the second quarter worth approximately $41,000. Allworth Financial LP grew its position in SolarWinds by 732.1% in the third quarter. Allworth Financial LP now owns 3,786 shares of the software maker’s stock worth $49,000 after acquiring an additional 3,331 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. bought a new stake in SolarWinds in the second quarter worth approximately $58,000. Finally, Ameritas Investment Partners Inc. bought a new stake in shares of SolarWinds during the 1st quarter worth $62,000. Institutional investors and hedge funds own 93.96% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Sudhakar Ramakrishna sold 200,000 shares of the firm’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $13.68, for a total value of $2,736,000.00. Following the transaction, the chief executive officer now owns 2,212,171 shares of the company’s stock, valued at approximately $30,262,499.28. This trade represents a 8.29 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director William G. Bock sold 16,000 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The shares were 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 directly owns 88,857 shares in the company, valued at $1,166,692.41. This trade represents a 15.26 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 351,000 shares of company stock valued at $4,703,780 in the last 90 days. 1.95% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research firms recently issued reports on SWI. Robert W. Baird upped their price objective on shares of SolarWinds from $14.00 to $15.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Scotiabank started coverage on shares of SolarWinds in a research note on Friday, September 13th. They set a “sector perform” rating and a $13.00 target price for the company. Five research analysts have rated the stock with a hold rating, According to MarketBeat, the company has an average rating of “Hold” and an average price target of $14.00.

SolarWinds Trading Down 1.9 %

Shares of SWI stock opened at $13.18 on Monday. SolarWinds Co. has a 52-week low of $10.14 and a 52-week high of $14.02. The stock has a market cap of $2.25 billion, a price-to-earnings ratio of 59.91 and a beta of 0.96. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.71 and a current ratio of 0.71. The firm has a fifty day moving average of $12.90 and a 200-day moving average of $12.31.

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