Norges Bank acquired a new stake in Cyberark Software Ltd (NASDAQ:CYBR) in the 4th quarter, Holdings Channel reports. The fund acquired 475,493 shares of the technology company’s stock, valued at approximately $35,253,000.
Other hedge funds also recently modified their holdings of the company. Cerebellum GP LLC acquired a new position in Cyberark Software in the 4th quarter worth about $41,000. Optimum Investment Advisors acquired a new position in Cyberark Software in the 4th quarter worth about $44,000. Quantamental Technologies LLC acquired a new position in Cyberark Software in the 4th quarter worth about $59,000. IFP Advisors Inc raised its holdings in Cyberark Software by 131.3% in the 4th quarter. IFP Advisors Inc now owns 1,413 shares of the technology company’s stock worth $104,000 after purchasing an additional 802 shares during the period. Finally, Cim LLC acquired a new position in Cyberark Software in the 4th quarter worth about $202,000. 77.52% of the stock is owned by institutional investors and hedge funds.
CYBR has been the subject of a number of analyst reports. Goldman Sachs Group cut Cyberark Software from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $86.00 to $78.00 in a report on Friday, January 4th. Deutsche Bank raised Cyberark Software from a “hold” rating to a “buy” rating and set a $85.00 price target for the company in a report on Thursday, December 20th. Morgan Stanley set a $126.00 price target on Cyberark Software and gave the stock a “buy” rating in a report on Friday, February 15th. BidaskClub raised Cyberark Software from a “buy” rating to a “strong-buy” rating in a report on Wednesday, January 2nd. Finally, Wedbush upped their price target on Cyberark Software from $95.00 to $130.00 and gave the stock an “outperform” rating in a report on Friday, February 15th. Four investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Cyberark Software currently has a consensus rating of “Buy” and a consensus price target of $91.36.
Shares of Cyberark Software stock opened at $121.89 on Tuesday. Cyberark Software Ltd has a 12 month low of $51.68 and a 12 month high of $124.59. The company has a market cap of $4.47 billion, a price-to-earnings ratio of 85.24, a PEG ratio of 5.34 and a beta of 1.87.
Cyberark Software (NASDAQ:CYBR) last announced its earnings results on Thursday, February 14th. The technology company reported $0.89 EPS for the quarter, beating analysts’ consensus estimates of $0.59 by $0.30. Cyberark Software had a return on equity of 12.24% and a net margin of 13.72%. The business had revenue of $109.10 million during the quarter, compared to analysts’ expectations of $95.94 million. During the same quarter in the prior year, the firm earned $0.41 earnings per share. The business’s revenue was up 35.7% compared to the same quarter last year. Equities research analysts expect that Cyberark Software Ltd will post 1.11 EPS for the current fiscal year.
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About Cyberark Software
CyberArk Software Ltd. develops, markets, and sells software-based security solutions that protect organizations from cyber attacks in the United States and internationally. The company offers privileged account security solution to secure, manage, and monitor account access and activities. Its privileged account security solution consists of Enterprise Password Vault that prevents user passwords and SSH keys; Privileged Session Manager that protects windows based systems, databases, virtual machines, network devices, Web sites, and SaaS applications; and Privileged Threat Analytics that enables to detect, alert, and respond to anomalous privileged activity.
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