SolarWinds Co. (NYSE:SWI) Holdings Cut by Citigroup Inc.

Citigroup Inc. cut its stake in shares of SolarWinds Co. (NYSE:SWI) by 55.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 27,885 shares of the software maker’s stock after selling 34,848 shares during the quarter. Citigroup Inc.’s holdings in SolarWinds were worth $263,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Tower Research Capital LLC TRC grew its stake in SolarWinds by 96.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,517 shares of the software maker’s stock worth $26,000 after buying an additional 1,237 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of SolarWinds during the second quarter worth about $32,000. Ensign Peak Advisors Inc bought a new position in shares of SolarWinds during the third quarter worth about $40,000. Allspring Global Investments Holdings LLC increased its holdings in shares of SolarWinds by 118.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 5,461 shares of the software maker’s stock worth $52,000 after acquiring an additional 2,957 shares during the period. Finally, US Bancorp DE lifted its position 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 last quarter. 93.96% of the stock is currently owned by institutional investors and hedge funds.

SolarWinds Trading Up 0.2 %

Shares of SolarWinds stock opened at $12.32 on Thursday. The business has a fifty day simple moving average of $12.28 and a 200-day simple moving average of $11.30. SolarWinds Co. has a fifty-two week low of $8.06 and a fifty-two week high of $13.43. The firm has a market cap of $2.05 billion, a price-to-earnings ratio of -246.40 and a beta of 0.97. 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 earnings results on Thursday, February 8th. The software maker reported $0.12 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.12. The company had revenue of $198.14 million for the quarter, compared to analyst estimates of $190.54 million. SolarWinds had a positive return on equity of 5.08% and a negative net margin of 1.20%. On average, equities analysts forecast that SolarWinds Co. will post 0.62 EPS for the current fiscal year.

SolarWinds Announces Dividend

The company also recently declared a dividend, which will be paid on Monday, April 15th. Investors of record on Wednesday, April 3rd will be given a $1.00 dividend. The ex-dividend date is Tuesday, April 2nd. SolarWinds’s dividend payout ratio (DPR) is presently -3,000.00%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on SWI. JPMorgan Chase & Co. started coverage on SolarWinds in a research report on Thursday, February 1st. They set a “neutral” rating and a $14.00 price objective for the company. TheStreet upgraded SolarWinds from a “d+” rating to a “c-” rating in a research report on Wednesday, December 13th. Truist Financial started coverage on SolarWinds in a report on Wednesday, March 6th. They set a “hold” rating and a $13.00 price target on the stock. Finally, Royal Bank of Canada upped 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 research 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.

SolarWinds 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.