SolarWinds (NYSE:SWI) Shares Gap Up to $11.04

SolarWinds Co. (NYSE:SWI) shares gapped up prior to trading on Wednesday . The stock had previously closed at $11.04, but opened at $12.27. SolarWinds shares last traded at $12.48, with a volume of 251,403 shares changing hands.

Analyst Ratings Changes

Separately, Robert W. Baird dropped their price target on SolarWinds from $15.00 to $14.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. Four investment analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $14.00.

SolarWinds Stock Performance

The stock has a market cap of $2.09 billion, a P/E ratio of 178.29 and a beta of 0.97. The company has a fifty day moving average price of $11.72 and a 200 day moving average price of $11.87. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.71 and a quick ratio of 0.71.

SolarWinds (NYSE:SWI) last released its quarterly earnings data on Thursday, August 1st. The software maker reported $0.26 EPS for the quarter, beating the consensus estimate of $0.23 by $0.03. The firm had revenue of $193.30 million during the quarter, compared to the consensus estimate of $188.67 million. SolarWinds had a return on equity of 7.05% and a net margin of 2.96%. The company’s quarterly revenue was up 4.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.12 earnings per share. On average, equities analysts expect that SolarWinds Co. will post 0.69 EPS for the current year.

Institutional Investors Weigh In On SolarWinds

Several hedge funds and other institutional investors have recently modified their holdings of the company. Dimensional Fund Advisors LP increased its holdings in shares of SolarWinds by 11.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,770,945 shares of the software maker’s stock valued at $59,589,000 after acquiring an additional 508,280 shares in the last quarter. Voss Capital LLC grew its holdings in SolarWinds by 145.6% during the fourth quarter. Voss Capital LLC now owns 2,870,575 shares of the software maker’s stock worth $35,853,000 after buying an additional 1,701,736 shares in the last quarter. Foundry Partners LLC grew its holdings in SolarWinds by 5.3% during the second quarter. Foundry Partners LLC now owns 510,206 shares of the software maker’s stock worth $6,148,000 after buying an additional 25,685 shares in the last quarter. Scalar Gauge Management LLC bought a new stake in SolarWinds during the fourth quarter worth $4,918,000. Finally, Bank of New York Mellon Corp grew its holdings in SolarWinds by 9.6% during the second quarter. Bank of New York Mellon Corp now owns 279,792 shares of the software maker’s stock worth $3,371,000 after buying an additional 24,400 shares in the last quarter. Institutional investors own 93.96% of the company’s stock.

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.