Bangor Savings Bank Decreases Stock Holdings in CyberArk Software Ltd. (NASDAQ:CYBR)

Bangor Savings Bank reduced its stake in shares of CyberArk Software Ltd. (NASDAQ:CYBR) by 14.8% in the first quarter, HoldingsChannel reports. The firm owned 523 shares of the technology company’s stock after selling 91 shares during the period. Bangor Savings Bank’s holdings in CyberArk Software were worth $139,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the business. Desjardins Global Asset Management Inc. increased its position in CyberArk Software by 22.1% during the 4th quarter. Desjardins Global Asset Management Inc. now owns 282 shares of the technology company’s stock valued at $62,000 after buying an additional 51 shares in the last quarter. Signaturefd LLC raised its stake in shares of CyberArk Software by 6.6% in the fourth quarter. Signaturefd LLC now owns 868 shares of the technology company’s stock worth $190,000 after purchasing an additional 54 shares during the last quarter. HighTower Advisors LLC lifted its holdings in shares of CyberArk Software by 1.1% during the third quarter. HighTower Advisors LLC now owns 5,476 shares of the technology company’s stock worth $894,000 after purchasing an additional 60 shares during the period. Wealth Alliance increased its holdings in CyberArk Software by 2.6% in the 4th quarter. Wealth Alliance now owns 2,399 shares of the technology company’s stock worth $526,000 after buying an additional 60 shares during the period. Finally, PNC Financial Services Group Inc. increased its holdings in CyberArk Software by 2.3% in the 3rd quarter. PNC Financial Services Group Inc. now owns 2,772 shares of the technology company’s stock worth $454,000 after buying an additional 63 shares during the period. 91.84% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

CYBR has been the topic of several research reports. Cantor Fitzgerald reiterated an “overweight” rating and issued a $300.00 price target on shares of CyberArk Software in a report on Friday. BTIG Research initiated coverage on shares of CyberArk Software in a report on Thursday, March 28th. They issued a “buy” rating and a $317.00 price target on the stock. DA Davidson increased their price target on shares of CyberArk Software from $275.00 to $285.00 and gave the stock a “buy” rating in a report on Wednesday, May 22nd. Bank of America reiterated a “buy” rating and issued a $315.00 price target on shares of CyberArk Software in a report on Wednesday, April 24th. Finally, Wedbush reaffirmed an “outperform” rating and set a $285.00 price objective on shares of CyberArk Software in a research note on Friday, May 3rd. Two investment analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, CyberArk Software currently has an average rating of “Moderate Buy” and an average price target of $270.83.

CyberArk Software Price Performance

Shares of NASDAQ:CYBR opened at $258.00 on Monday. The business has a 50-day moving average price of $241.05 and a 200 day moving average price of $241.51. CyberArk Software Ltd. has a 12-month low of $142.92 and a 12-month high of $283.00.

CyberArk Software (NASDAQ:CYBR) last issued its quarterly earnings data on Thursday, May 2nd. The technology company reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.51) by $0.67. The firm had revenue of $221.55 million during the quarter, compared to the consensus estimate of $213.42 million. CyberArk Software had a negative return on equity of 2.51% and a negative net margin of 3.20%. Equities analysts predict that CyberArk Software Ltd. will post -1.24 earnings per share for the current fiscal year.

About CyberArk Software

CyberArk Software Ltd., together with its subsidiaries, develops, markets, and sells software-based identity security solutions and services in the United States, Europe, the Middle East, Africa, and internationally. Its solutions include Privileged Access Manager, which offers risk-based credential security and session; Vendor Privileged Access Manager combines Privileged Access Manager and Remote Access to provide secure access to third-party vendors; Dynamic Privileged Access, a SaaS solution that provides just-in-time access to Linux Virtual Machines; Endpoint Privilege Manager, a SaaS solution that secures privileges on the endpoint; and Secure Desktop, a solution that protects access to endpoints.