Federated Hermes Inc. Reduces Holdings in SolarWinds Co. (NYSE:SWI)

Federated Hermes Inc. lowered its position in shares of SolarWinds Co. (NYSE:SWI) by 11.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 571,443 shares of the software maker’s stock after selling 74,265 shares during the period. Federated Hermes Inc. owned approximately 0.34% of SolarWinds worth $7,137,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in SWI. Allspring Global Investments Holdings LLC raised its stake in shares of SolarWinds by 118.1% during the third 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. New York State Teachers Retirement System bought a new stake in shares of SolarWinds in the fourth quarter worth $57,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of SolarWinds by 185.0% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,925 shares of the software maker’s stock worth $84,000 after buying an additional 5,793 shares during the last quarter. AXQ Capital LP bought a new stake in shares of SolarWinds in the third quarter worth $103,000. Finally, Barclays PLC increased its stake in shares of SolarWinds by 9.7% in the third quarter. Barclays PLC now owns 20,820 shares of the software maker’s stock worth $197,000 after buying an additional 1,842 shares during the last quarter. Hedge funds and other institutional investors own 93.96% of the company’s stock.

Wall Street Analyst Weigh In

SWI has been the subject of a number of research analyst reports. JPMorgan Chase & Co. initiated coverage on shares of SolarWinds in a research note on Thursday, February 1st. They issued a “neutral” rating and a $14.00 price target for the company. Royal Bank of Canada lifted their price target on shares of SolarWinds from $13.00 to $15.00 and gave the stock a “sector perform” rating in a research note on Friday, February 9th. Finally, Truist Financial began coverage on shares of SolarWinds in a report on Wednesday, March 6th. They issued a “hold” rating and a $13.00 price objective for the company. Four investment analysts have rated the stock with a hold rating, According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $13.50.

SolarWinds Stock Performance

SolarWinds stock opened at $11.29 on Thursday. The company has a market cap of $1.90 billion, a PE ratio of -225.80 and a beta of 0.97. The company has a fifty day moving average price of $11.88 and a two-hundred day moving average price of $11.53. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.90 and a quick ratio of 0.90. SolarWinds Co. has a 12 month low of $8.06 and a 12 month high of $13.43.

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 company had revenue of $198.14 million during the quarter, compared to the consensus estimate of $190.54 million. Research analysts expect that SolarWinds Co. will post 0.62 earnings per share for the current year.

SolarWinds Announces Dividend

The company also recently declared a dividend, which was paid on Monday, April 15th. Stockholders of record on Wednesday, April 3rd were issued a dividend of $1.00 per share. The ex-dividend date of this dividend was Tuesday, April 2nd.

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.