Sumitomo Mitsui Trust Group Inc. Raises Stock Position in CyberArk Software Ltd. (NASDAQ:CYBR)

Sumitomo Mitsui Trust Group Inc. raised its holdings in CyberArk Software Ltd. (NASDAQ:CYBR) by 6.7% during the 3rd quarter, Holdings Channel.com reports. The firm owned 76,326 shares of the technology company’s stock after acquiring an additional 4,800 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in CyberArk Software were worth $22,257,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CYBR. Russell Investments Group Ltd. lifted its holdings in shares of CyberArk Software by 58.3% in the 1st quarter. Russell Investments Group Ltd. now owns 33,255 shares of the technology company’s stock valued at $8,830,000 after buying an additional 12,242 shares during the period. Quadrature Capital Ltd acquired a new position in CyberArk Software in the first quarter valued at approximately $2,741,000. Price T Rowe Associates Inc. MD lifted its holdings in CyberArk Software by 715.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 56,262 shares of the technology company’s stock valued at $14,946,000 after acquiring an additional 49,360 shares during the period. Ensign Peak Advisors Inc purchased a new stake in CyberArk Software in the 2nd quarter worth approximately $711,000. Finally, 1832 Asset Management L.P. grew its stake in shares of CyberArk Software by 1,291.7% during the 1st quarter. 1832 Asset Management L.P. now owns 386,365 shares of the technology company’s stock worth $102,630,000 after purchasing an additional 358,602 shares during the period. 91.84% of the stock is owned by institutional investors and hedge funds.

CyberArk Software Trading Up 1.3 %

Shares of CYBR stock opened at $305.27 on Monday. CyberArk Software Ltd. has a twelve month low of $183.28 and a twelve month high of $318.16. The company’s 50-day moving average price is $285.06 and its 200-day moving average price is $267.28. The stock has a market cap of $13.30 billion, a price-to-earnings ratio of 1,130.63 and a beta of 1.13.

CyberArk Software (NASDAQ:CYBR) last posted its earnings results on Wednesday, November 13th. The technology company reported $0.94 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.48. The company had revenue of $240.10 million for the quarter, compared to analyst estimates of $234.10 million. CyberArk Software had a net margin of 1.38% and a return on equity of 2.29%. CyberArk Software’s revenue was up 25.6% on a year-over-year basis. During the same period in the previous year, the business posted ($0.31) EPS. As a group, equities research analysts predict that CyberArk Software Ltd. will post -0.99 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. UBS Group raised their price target on shares of CyberArk Software from $340.00 to $360.00 and gave the company a “buy” rating in a research report on Thursday. Barclays lifted their price target on CyberArk Software from $330.00 to $335.00 and gave the company an “overweight” rating in a research note on Thursday. Needham & Company LLC reiterated a “buy” rating and set a $310.00 price target on shares of CyberArk Software in a research report on Friday, August 9th. KeyCorp upped their target price on CyberArk Software from $340.00 to $355.00 and gave the stock an “overweight” rating in a research note on Thursday. Finally, DA Davidson lifted their price target on shares of CyberArk Software from $285.00 to $315.00 and gave the company a “buy” rating in a research note on Friday, August 9th. One research analyst has rated the stock with a hold rating and twenty-six have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $328.37.

CyberArk Software Company 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.