Brown Capital Management LLC Reduces Stake in CyberArk Software Ltd. $CYBR

Brown Capital Management LLC trimmed its position in shares of CyberArk Software Ltd. (NASDAQ:CYBR) by 31.4% during the third quarter, Holdings Channel.com reports. The fund owned 408,291 shares of the technology company’s stock after selling 186,597 shares during the quarter. CyberArk Software comprises 8.1% of Brown Capital Management LLC’s portfolio, making the stock its biggest holding. Brown Capital Management LLC’s holdings in CyberArk Software were worth $197,266,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. NewSquare Capital LLC boosted its holdings in CyberArk Software by 78.0% during the second quarter. NewSquare Capital LLC now owns 73 shares of the technology company’s stock worth $30,000 after purchasing an additional 32 shares during the last quarter. Parkside Financial Bank & Trust increased its stake in CyberArk Software by 120.7% in the 3rd quarter. Parkside Financial Bank & Trust now owns 64 shares of the technology company’s stock valued at $31,000 after buying an additional 35 shares during the last quarter. AlphaCore Capital LLC bought a new position in shares of CyberArk Software during the 2nd quarter worth approximately $33,000. UMB Bank n.a. boosted its position in CyberArk Software by 50.0% in the third quarter. UMB Bank n.a. now owns 87 shares of the technology company’s stock worth $42,000 after purchasing an additional 29 shares during the last quarter. Finally, Promus Capital LLC bought a new stake in shares of CyberArk Software during the 2nd quarter worth $48,000. Hedge funds and other institutional investors own 91.84% of the company’s stock.

CyberArk Software Stock Performance

NASDAQ CYBR opened at $427.27 on Tuesday. The company has a fifty day moving average of $452.26 and a 200-day moving average of $459.70. CyberArk Software Ltd. has a 52-week low of $288.63 and a 52-week high of $526.19. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.14 and a current ratio of 2.14. The company has a market capitalization of $21.57 billion, a P/E ratio of -92.68, a P/E/G ratio of 19.66 and a beta of 0.91.

CyberArk Software (NASDAQ:CYBR) last announced its quarterly earnings data on Thursday, November 6th. The technology company reported $1.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.92 by $0.28. The company had revenue of $342.84 million for the quarter, compared to analysts’ expectations of $328.52 million. CyberArk Software had a negative return on equity of 0.07% and a negative net margin of 17.42%.CyberArk Software’s revenue for the quarter was up 42.8% compared to the same quarter last year. During the same period last year, the firm posted $0.94 EPS. As a group, equities research analysts predict that CyberArk Software Ltd. will post -0.47 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. JPMorgan Chase & Co. began coverage on shares of CyberArk Software in a research report on Wednesday, December 17th. They issued a “neutral” rating and a $474.00 price objective on the stock. Zacks Research upgraded CyberArk Software from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 7th. Barclays reissued an “equal weight” rating and issued a $520.00 target price (up from $440.00) on shares of CyberArk Software in a research report on Tuesday, October 14th. DA Davidson reaffirmed a “buy” rating and set a $518.00 price objective on shares of CyberArk Software in a report on Friday, November 7th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of CyberArk Software in a report on Thursday. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, twenty-three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $462.63.

About CyberArk Software

CyberArk Software Ltd. is a cybersecurity company that focuses on identity security and privileged access management. Its core mission is to protect organizations from cyber threats that target privileged accounts, credentials and secrets that can provide attackers with broad access to critical systems. CyberArk’s offerings are designed to help enterprises control, monitor and secure privileged credentials across on-premises, cloud and hybrid environments, reducing the risk of lateral movement and data breaches.

The company delivers a suite of software and cloud services that address privileged access, secrets management, endpoint privilege management and identity-based threat detection.