LGT Capital Partners LTD. Invests $1.66 Million in SolarWinds Corp (SWI)

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LGT Capital Partners LTD. acquired a new stake in SolarWinds Corp (NYSE:SWI) in the 4th quarter, HoldingsChannel.com reports. The firm acquired 120,000 shares of the software maker’s stock, valued at approximately $1,660,000.

Separately, State of Alaska Department of Revenue purchased a new position in shares of SolarWinds in the 4th quarter valued at about $41,000.

SWI has been the subject of several recent research reports. Jefferies Financial Group initiated coverage on SolarWinds in a research note on Tuesday, November 13th. They issued a “buy” rating and a $18.00 price objective for the company. SunTrust Banks initiated coverage on SolarWinds in a research note on Tuesday, November 13th. They issued a “buy” rating and a $20.00 price objective for the company. JPMorgan Chase & Co. initiated coverage on SolarWinds in a research note on Tuesday, November 13th. They issued an “overweight” rating and a $20.00 price objective for the company. Citigroup began coverage on SolarWinds in a research note on Tuesday, November 13th. They issued a “buy” rating and a $20.00 price objective for the company. Finally, KeyCorp began coverage on SolarWinds in a research note on Tuesday, November 13th. They set a “sector weight” rating for the company. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $19.07.

SWI traded down $0.18 during trading on Monday, hitting $15.58. 352 shares of the stock were exchanged, compared to its average volume of 439,712. SolarWinds Corp has a 1-year low of $12.25 and a 1-year high of $19.04. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.97.

SolarWinds (NYSE:SWI) last released its quarterly earnings results on Tuesday, November 13th. The software maker reported $0.17 EPS for the quarter. The firm had revenue of $213.28 million for the quarter. Sell-side analysts forecast that SolarWinds Corp will post 0.58 EPS for the current year.

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SolarWinds Company Profile

SolarWinds Corporation provides information technology (IT) infrastructure management software products in the United States and internationally. It offers products that are designed to solve the day-to-day problems encountered by technology professionals managing complex IT infrastructure covering on-premise, cloud, and hybrid IT environments.

Further Reading: Asset Allocation Models, Which is Right For You?

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