Confluence Investment Management LLC Purchases New Position in CyberArk Software Ltd. (NASDAQ:CYBR)

Confluence Investment Management LLC purchased a new stake in CyberArk Software Ltd. (NASDAQ:CYBR) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 5,544 shares of the technology company’s stock, valued at approximately $1,473,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Jennison Associates LLC raised its holdings in shares of CyberArk Software by 81.4% in the fourth quarter. Jennison Associates LLC now owns 1,053,964 shares of the technology company’s stock valued at $230,871,000 after buying an additional 472,961 shares during the last quarter. Polar Capital Holdings Plc raised its holdings in shares of CyberArk Software by 15.4% in the third quarter. Polar Capital Holdings Plc now owns 594,809 shares of the technology company’s stock valued at $97,412,000 after buying an additional 79,506 shares during the last quarter. TimesSquare Capital Management LLC raised its holdings in shares of CyberArk Software by 2.1% in the third quarter. TimesSquare Capital Management LLC now owns 553,969 shares of the technology company’s stock valued at $90,724,000 after buying an additional 11,387 shares during the last quarter. Norges Bank purchased a new stake in shares of CyberArk Software in the fourth quarter valued at about $100,797,000. Finally, Nomura Holdings Inc. raised its holdings in shares of CyberArk Software by 9.5% in the third quarter. Nomura Holdings Inc. now owns 364,875 shares of the technology company’s stock valued at $59,756,000 after buying an additional 31,660 shares during the last quarter. 91.84% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CYBR has been the subject of a number of research reports. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $300.00 target price on shares of CyberArk Software in a report on Friday, May 3rd. DA Davidson upped their target price on shares of CyberArk Software from $275.00 to $285.00 and gave the company a “buy” rating in a report on Wednesday, May 22nd. Bank of America reissued a “buy” rating and set a $315.00 price target on shares of CyberArk Software in a report on Wednesday, April 24th. Canaccord Genuity Group cut their price target on shares of CyberArk Software from $300.00 to $280.00 and set a “buy” rating for the company in a report on Tuesday, June 4th. Finally, Wedbush reissued an “outperform” rating and set a $285.00 price target on shares of CyberArk Software in a report on Friday, May 3rd. Two equities research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $270.83.

CyberArk Software Trading Up 0.6 %

Shares of CYBR stock traded up $1.50 during trading hours on Tuesday, hitting $255.15. The company’s stock had a trading volume of 216,920 shares, compared to its average volume of 569,368. The business has a fifty day moving average of $240.87 and a 200-day moving average of $240.00. The stock has a market cap of $10.78 billion, a price-to-earnings ratio of -397.53 and a beta of 1.08. CyberArk Software Ltd. has a twelve month low of $142.92 and a twelve month high of $283.00.

CyberArk Software (NASDAQ:CYBR) last released its quarterly earnings results on Thursday, May 2nd. The technology company reported $0.16 EPS for the quarter, beating the consensus estimate of ($0.51) by $0.67. CyberArk Software had a negative net margin of 3.20% and a negative return on equity of 2.51%. The business had revenue of $221.55 million for the quarter, compared to analyst estimates of $213.42 million. On average, equities analysts expect that CyberArk Software Ltd. will post -1.24 EPS 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.