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The Manufacturers Life Insurance Company boosted its position in CyberArk Software Ltd. (NASDAQ:CYBR – Get Rating) by 10.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 202,786 shares of the technology company’s stock after acquiring an additional 19,545 shares during the quarter. The Manufacturers Life Insurance Company owned 0.50% of CyberArk Software worth $30,406,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors have also added to or reduced their stakes in CYBR. First Trust Advisors LP boosted its position in CyberArk Software by 8.3% during the first quarter. First Trust Advisors LP now owns 1,129,744 shares of the technology company’s stock valued at $190,644,000 after buying an additional 86,160 shares during the period. Legal & General Group Plc boosted its position in CyberArk Software by 5.8% during the second quarter. Legal & General Group Plc now owns 1,114,055 shares of the technology company’s stock valued at $142,554,000 after buying an additional 61,334 shares during the period. abrdn plc boosted its position in CyberArk Software by 0.9% during the second quarter. abrdn plc now owns 575,354 shares of the technology company’s stock valued at $75,023,000 after buying an additional 5,040 shares during the period. Jennison Associates LLC purchased a new stake in CyberArk Software during the third quarter valued at about $83,093,000. Finally, Invesco Ltd. boosted its position in CyberArk Software by 7.5% during the first quarter. Invesco Ltd. now owns 498,788 shares of the technology company’s stock valued at $84,169,000 after buying an additional 34,843 shares during the period. Institutional investors own 91.52% of the company’s stock.
Wall Street Analysts Forecast Growth
CYBR has been the subject of several analyst reports. Cowen initiated coverage on shares of CyberArk Software in a research report on Thursday, September 29th. They set an “outperform” rating for the company. Canaccord Genuity Group started coverage on shares of CyberArk Software in a research report on Friday, September 30th. They set a “buy” rating and a $187.00 price target for the company. Morgan Stanley dropped their target price on shares of CyberArk Software from $184.00 to $162.00 and set an “overweight” rating for the company in a report on Thursday, January 12th. DA Davidson started coverage on shares of CyberArk Software in a report on Thursday, December 15th. They set a “buy” rating and a $175.00 target price for the company. Finally, Cowen started coverage on shares of CyberArk Software in a report on Thursday, September 29th. They set an “outperform” rating and a $195.00 target price for the company. Four equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. According to MarketBeat.com, CyberArk Software has a consensus rating of “Moderate Buy” and a consensus price target of $172.39.
CyberArk Software Price Performance
Shares of NASDAQ CYBR opened at $131.61 on Monday. CyberArk Software Ltd. has a fifty-two week low of $100.35 and a fifty-two week high of $180.01. The company has a 50 day simple moving average of $135.51 and a two-hundred day simple moving average of $141.56. The company has a market capitalization of $5.36 billion, a price-to-earnings ratio of -42.59 and a beta of 1.04. The company has a debt-to-equity ratio of 0.87, a quick ratio of 2.66 and a current ratio of 2.66.
CyberArk Software (NASDAQ:CYBR – Get Rating) last announced its earnings results on Thursday, November 3rd. The technology company reported ($0.67) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.90) by $0.23. CyberArk Software had a negative net margin of 21.79% and a negative return on equity of 16.23%. The business had revenue of $152.67 million during the quarter, compared to the consensus estimate of $151.18 million. Analysts expect that CyberArk Software Ltd. will post -3.43 EPS for the current fiscal year.
About CyberArk Software
(Get Rating)
CyberArk Software Ltd., together with its subsidiaries, develops, markets, and sales software-based security solutions and services in the United States, Europe, the Middle East, Africa, and internationally. Its solutions include Privileged Access Manager that offers risk-based credential security and session management to protect against attacks involving privileged access; Vendor Privileged Access Manager combines Privileged Access Manager and Remote Access to provide fast, easy, and secure privileged access to third-party vendors; Endpoint Privilege Manager, a SaaS solution that secures privileges on the endpoint; and Cloud Entitlements Manager, a SaaS solution, which reduces risk that arises from excessive privileges by implementing least privilege across cloud environments.
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