Pinnacle Associates Ltd. Increases Stock Holdings in CyberArk Software Ltd. (NASDAQ:CYBR)

Pinnacle Associates Ltd. increased its holdings in CyberArk Software Ltd. (NASDAQ:CYBR) by 6.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,550 shares of the technology company’s stock after purchasing an additional 100 shares during the period. Pinnacle Associates Ltd.’s holdings in CyberArk Software were worth $452,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Mather Group LLC. purchased a new stake in CyberArk Software in the 2nd quarter valued at about $27,000. Montag A & Associates Inc. purchased a new stake in CyberArk Software in the first quarter valued at approximately $27,000. ORG Partners LLC acquired a new position in CyberArk Software during the second quarter worth approximately $33,000. 1620 Investment Advisors Inc. purchased a new position in CyberArk Software during the second quarter worth approximately $39,000. Finally, Arcadia Investment Management Corp MI boosted its holdings in shares of CyberArk Software by 42.2% in the 2nd quarter. Arcadia Investment Management Corp MI now owns 182 shares of the technology company’s stock valued at $50,000 after purchasing an additional 54 shares during the last quarter. 91.84% of the stock is currently owned by institutional investors and hedge funds.

CyberArk Software Trading Down 0.1 %

Shares of NASDAQ:CYBR opened at $276.16 on Monday. The firm has a market cap of $12.03 billion, a PE ratio of -863.00 and a beta of 1.13. The company has a fifty day simple moving average of $282.28 and a 200 day simple moving average of $263.73. CyberArk Software Ltd. has a 12-month low of $167.13 and a 12-month high of $308.63.

CyberArk Software (NASDAQ:CYBR) last released its earnings results on Thursday, August 8th. The technology company reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.14. CyberArk Software had a negative net margin of 1.53% and a negative return on equity of 0.21%. The company had revenue of $224.71 million during the quarter, compared to the consensus estimate of $219.06 million. During the same quarter in the previous year, the firm earned ($0.58) EPS. The company’s revenue was up 27.8% on a year-over-year basis. As a group, equities research analysts forecast that CyberArk Software Ltd. will post -1.05 EPS for the current fiscal year.

Analysts Set New Price Targets

CYBR has been the subject of a number of research analyst reports. Barclays upped their price objective on CyberArk Software from $315.00 to $330.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. Jefferies Financial Group raised their price objective on CyberArk Software from $315.00 to $330.00 and gave the stock a “buy” rating in a report on Tuesday, September 24th. Wedbush boosted their target price on CyberArk Software from $300.00 to $325.00 and gave the stock an “outperform” rating in a report on Tuesday, October 1st. BTIG Research raised their price target on shares of CyberArk Software from $310.00 to $325.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Finally, Cantor Fitzgerald lifted their price target on shares of CyberArk Software from $300.00 to $335.00 and gave the company an “overweight” rating in a research report on Tuesday, October 29th. One investment analyst has rated the stock with a hold rating and twenty-four have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $311.44.

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.