Madison Asset Management LLC Sells 2,740 Shares of CyberArk Software Ltd. $CYBR

Madison Asset Management LLC trimmed its position in CyberArk Software Ltd. (NASDAQ:CYBR) by 45.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,255 shares of the technology company’s stock after selling 2,740 shares during the quarter. Madison Asset Management LLC’s holdings in CyberArk Software were worth $1,573,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Sheets Smith Wealth Management grew its holdings in CyberArk Software by 0.7% during the 3rd quarter. Sheets Smith Wealth Management now owns 3,141 shares of the technology company’s stock worth $1,518,000 after acquiring an additional 23 shares in the last quarter. Portside Wealth Group LLC lifted its position in shares of CyberArk Software by 1.1% in the 3rd quarter. Portside Wealth Group LLC now owns 2,047 shares of the technology company’s stock worth $989,000 after purchasing an additional 23 shares during the period. Signal Advisors Wealth LLC boosted its stake in shares of CyberArk Software by 0.6% during the third quarter. Signal Advisors Wealth LLC now owns 3,917 shares of the technology company’s stock valued at $1,892,000 after purchasing an additional 24 shares in the last quarter. UMB Bank n.a. increased its holdings in CyberArk Software by 50.0% during the third quarter. UMB Bank n.a. now owns 87 shares of the technology company’s stock valued at $42,000 after buying an additional 29 shares during the period. Finally, Blue Trust Inc. increased its holdings in CyberArk Software by 2.9% during the third quarter. Blue Trust Inc. now owns 1,059 shares of the technology company’s stock valued at $512,000 after buying an additional 30 shares during the period. Hedge funds and other institutional investors own 91.84% of the company’s stock.

CyberArk Software Price Performance

Shares of NASDAQ CYBR opened at $408.85 on Thursday. CyberArk Software Ltd. has a fifty-two week low of $288.63 and a fifty-two week high of $526.19. The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.14 and a current ratio of 2.00. The company has a market cap of $20.64 billion, a PE ratio of -139.54, a P/E/G ratio of 18.11 and a beta of 0.91. The business has a 50-day simple moving average of $444.92 and a two-hundred day simple moving average of $460.20.

CyberArk Software (NASDAQ:CYBR) last released its earnings results on Wednesday, February 4th. The technology company reported $1.33 EPS for the quarter, topping analysts’ consensus estimates of $1.15 by $0.18. CyberArk Software had a negative net margin of 10.79% and a positive return on equity of 0.77%. The company had revenue of $372.65 million during the quarter, compared to analysts’ expectations of $377.22 million. During the same period last year, the business earned $0.80 EPS. CyberArk Software’s revenue for the quarter was up 18.5% on a year-over-year basis. As a group, equities analysts expect that CyberArk Software Ltd. will post -0.47 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on CYBR shares. Piper Sandler set a $474.00 target price on CyberArk Software in a report on Wednesday, December 17th. Zacks Research raised CyberArk Software from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 7th. DA Davidson raised their price objective on CyberArk Software from $518.00 to $573.00 and gave the company a “buy” rating in a research report on Thursday, February 5th. Canaccord Genuity Group lowered CyberArk Software from a “buy” rating to a “hold” rating and lifted their target price for the company from $440.00 to $502.00 in a research note on Wednesday, October 15th. Finally, Citigroup lowered shares of CyberArk Software from a “buy” rating to a “hold” rating and increased their price target for the company from $465.00 to $524.00 in a research report on Tuesday, November 4th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twenty-three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $462.46.

CyberArk Software Company Profile

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.