Lazard Asset Management LLC Lowers Holdings in SolarWinds Co. (NYSE:SWI)

Lazard Asset Management LLC decreased its holdings in SolarWinds Co. (NYSE:SWI) by 9.6% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 1,103,000 shares of the software maker’s stock after selling 117,516 shares during the period. Lazard Asset Management LLC’s holdings in SolarWinds were worth $15,717,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Sterling Capital Management LLC grew its stake in shares of SolarWinds by 808.3% during the 4th quarter. Sterling Capital Management LLC now owns 1,744 shares of the software maker’s stock valued at $25,000 after purchasing an additional 1,552 shares during the period. R Squared Ltd bought a new stake in SolarWinds during the fourth quarter valued at about $38,000. Steward Partners Investment Advisory LLC raised its position in shares of SolarWinds by 75.5% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 5,299 shares of the software maker’s stock valued at $76,000 after buying an additional 2,279 shares during the last quarter. BNP Paribas Financial Markets bought a new stake in shares of SolarWinds during the fourth quarter valued at approximately $98,000. Finally, KLP Kapitalforvaltning AS bought a new stake in shares of SolarWinds in the fourth quarter worth about $124,000. Institutional investors own 93.96% of the company’s stock.

Analysts Set New Price Targets

SWI has been the topic of several analyst reports. Royal Bank of Canada boosted their price objective on SolarWinds from $13.00 to $16.00 and gave the stock a “sector perform” rating in a research note on Tuesday, January 21st. Wedbush cut SolarWinds from an “outperform” rating to a “neutral” rating and dropped their price objective for the stock from $20.00 to $18.50 in a research note on Friday, February 7th. Robert W. Baird increased their target price on SolarWinds from $15.00 to $18.50 and gave the company a “neutral” rating in a research report on Monday, February 10th. Scotiabank raised their price target on shares of SolarWinds from $15.00 to $18.50 and gave the company a “sector perform” rating in a report on Monday, February 10th. Finally, Truist Financial reissued a “hold” rating and issued a $18.50 price objective (up previously from $13.00) on shares of SolarWinds in a research report on Monday, February 10th. Five equities research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $18.00.

SolarWinds Stock Performance

Shares of SWI stock opened at $18.49 on Wednesday. The company has a quick ratio of 0.71, a current ratio of 0.85 and a debt-to-equity ratio of 0.85. The business has a 50-day simple moving average of $18.44 and a 200-day simple moving average of $16.14. SolarWinds Co. has a 52-week low of $10.14 and a 52-week high of $18.55. The stock has a market cap of $3.20 billion, a PE ratio of 29.35 and a beta of 0.88.

SolarWinds (NYSE:SWI) last posted its quarterly earnings data on Wednesday, February 12th. The software maker reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.14. SolarWinds had a net margin of 14.04% and a return on equity of 12.19%. On average, equities analysts expect that SolarWinds Co. will post 0.75 EPS for the current year.

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.