updated to compensate for my foolish assumption.

use strict;
my @lines=<DATA>;
print sort{by_ip($a)<=>by_ip($b)} @lines;
sub by_ip {
    @_[0]=~ /\.(\d+)\s/;
    return $1;
}
__DATA__
10.194.196.55 heckyll
10.194.196.57 txwl013w
10.194.196.61 krios
10.194.196.62 stasis # dial up server
10.194.196.63 nnocdts01 # sparc 5 in wan rm
10.194.196.65 libra
10.194.196.66 legato-school
10.194.196.67 txwlxdbs nnocs002a
10.194.196.46 chqnocp01 # Laser 4MV by Joe Blow
10.194.196.47 chqnocp02
10.194.196.9 TEST
10.194.196.49 nnocrpt01
10.194.196.64 saturn
10.194.196.50 nnocgw001
10.194.196.52 nnocs002
10.194.196.53 wslkms02 wslknms0
10.194.196.54 nnocws001
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