Marshall Wace LLP Trims Position in CyberArk Software Ltd. (NASDAQ:CYBR)

Marshall Wace LLP lessened its stake in shares of CyberArk Software Ltd. (NASDAQ:CYBR) by 90.5% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 26,605 shares of the technology company’s stock after selling 254,050 shares during the period. Marshall Wace LLP’s holdings in CyberArk Software were worth $7,274,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of CYBR. Geneos Wealth Management Inc. grew its holdings in CyberArk Software by 64.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 7,345 shares of the technology company’s stock worth $1,951,000 after acquiring an additional 2,885 shares in the last quarter. Congress Asset Management Co. MA lifted its position in shares of CyberArk Software by 29.3% in the 1st quarter. Congress Asset Management Co. MA now owns 50,097 shares of the technology company’s stock worth $13,307,000 after purchasing an additional 11,345 shares during the period. Contour Asset Management LLC bought a new position in shares of CyberArk Software during the fourth quarter valued at approximately $48,605,000. Russell Investments Group Ltd. boosted its stake in shares of CyberArk Software by 58.3% during the first quarter. Russell Investments Group Ltd. now owns 33,255 shares of the technology company’s stock valued at $8,830,000 after purchasing an additional 12,242 shares in the last quarter. Finally, Quadrature Capital Ltd purchased a new position in CyberArk Software during the first quarter valued at approximately $2,741,000. Institutional investors own 91.84% of the company’s stock.

Analysts Set New Price Targets

CYBR has been the subject of several recent research reports. Royal Bank of Canada initiated coverage on CyberArk Software in a research note on Friday, September 20th. They set an “outperform” rating and a $328.00 price objective for the company. Jefferies Financial Group lifted their price target on shares of CyberArk Software from $315.00 to $330.00 and gave the stock a “buy” rating in a report on Tuesday, September 24th. Barclays raised their price objective on CyberArk Software from $280.00 to $315.00 and gave the stock an “overweight” rating in a research report on Thursday, July 11th. Citigroup boosted their target price on CyberArk Software from $305.00 to $310.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. Finally, Wedbush increased their price target on CyberArk Software from $285.00 to $300.00 and gave the company an “outperform” rating in a research note on Friday, August 9th. Two equities research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $295.92.

CyberArk Software Stock Performance

CYBR stock opened at $291.61 on Tuesday. CyberArk Software Ltd. has a one year low of $152.03 and a one year high of $293.31. The firm’s fifty day moving average is $270.61 and its 200 day moving average is $258.53. The firm has a market cap of $12.32 billion, a PE ratio of -455.64 and a beta of 1.11.

CyberArk Software (NASDAQ:CYBR) last announced its quarterly earnings results on Thursday, August 8th. The technology company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.14. The firm had revenue of $224.71 million during the quarter, compared to analyst estimates of $219.06 million. CyberArk Software had a negative return on equity of 0.21% and a negative net margin of 1.53%. CyberArk Software’s revenue for the quarter was up 27.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.58) EPS. Research analysts predict that CyberArk Software Ltd. will post -1.06 earnings per share for the current fiscal year.

CyberArk Software Profile

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.