Blue Trust Inc. Raises Position in CyberArk Software Ltd. (NASDAQ:CYBR)

Blue Trust Inc. grew its position in CyberArk Software Ltd. (NASDAQ:CYBR) by 49.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,155 shares of the technology company’s stock after acquiring an additional 382 shares during the period. Blue Trust Inc.’s holdings in CyberArk Software were worth $316,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in CYBR. Swedbank AB purchased a new stake in shares of CyberArk Software in the first quarter valued at about $109,466,000. 1832 Asset Management L.P. lifted its stake in shares of CyberArk Software by 1,291.7% in the first quarter. 1832 Asset Management L.P. now owns 386,365 shares of the technology company’s stock valued at $102,630,000 after purchasing an additional 358,602 shares during the period. Anomaly Capital Management LP acquired a new stake in shares of CyberArk Software in the second quarter valued at about $49,145,000. Clearbridge Investments LLC lifted its stake in shares of CyberArk Software by 250.0% in the second quarter. Clearbridge Investments LLC now owns 224,381 shares of the technology company’s stock valued at $61,350,000 after purchasing an additional 160,269 shares during the period. Finally, Acadian Asset Management LLC lifted its stake in shares of CyberArk Software by 38.2% in the first quarter. Acadian Asset Management LLC now owns 405,375 shares of the technology company’s stock valued at $107,642,000 after purchasing an additional 112,112 shares during the period. Hedge funds and other institutional investors own 91.84% of the company’s stock.

CyberArk Software Stock Performance

CyberArk Software stock opened at $293.46 on Friday. CyberArk Software Ltd. has a 1 year low of $154.76 and a 1 year high of $308.63. The firm has a 50 day moving average price of $281.97 and a 200 day moving average price of $262.09. The company has a market cap of $12.40 billion, a price-to-earnings ratio of -458.53 and a beta of 1.12.

CyberArk Software (NASDAQ:CYBR) last released its earnings results on Thursday, August 8th. The technology company reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $224.71 million during the quarter, compared to the consensus estimate of $219.06 million. During the same period in the previous year, the firm earned ($0.58) earnings per share. CyberArk Software’s revenue was up 27.8% compared to the same quarter last year. Sell-side analysts predict that CyberArk Software Ltd. will post -1.06 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. BTIG Research raised their price objective on shares of CyberArk Software from $310.00 to $325.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Mizuho raised their price objective on shares of CyberArk Software from $310.00 to $325.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Jefferies Financial Group lifted their target price on shares of CyberArk Software from $315.00 to $330.00 and gave the stock a “buy” rating in a research report on Tuesday, September 24th. Barclays lifted their target price on shares of CyberArk Software from $315.00 to $330.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Finally, Royal Bank of Canada began coverage on shares of CyberArk Software in a research report on Friday, September 20th. They set an “outperform” rating and a $328.00 target price for the company. One equities research analyst has rated the stock with a hold rating and twenty-five have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $306.58.

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.