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% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund 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.

A number of other hedge funds also recently made changes to their positions in CYBR. AQR Capital Management LLC purchased a new position in CyberArk Software during the 1st quarter valued at approximately $284,000. Callan Family Office LLC bought a new position in shares of CyberArk Software during the 2nd quarter valued at approximately $205,000. IFP Advisors Inc grew its holdings in shares of CyberArk Software by 110.2% in the second quarter. IFP Advisors Inc now owns 1,131 shares of the technology company’s stock valued at $460,000 after purchasing an additional 593 shares in the last quarter. Concurrent Investment Advisors LLC bought a new stake in CyberArk Software in the second quarter worth $207,000. Finally, Vanguard Personalized Indexing Management LLC grew its stake in shares of CyberArk Software by 15.4% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 4,825 shares of the technology company’s stock worth $1,963,000 after buying an additional 644 shares in the last quarter. 91.84% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently commented on CYBR shares. Citigroup lowered CyberArk Software from a “buy” rating to a “hold” rating and lifted their price target for the stock from $465.00 to $524.00 in a research report on Tuesday, November 4th. Weiss Ratings reiterated a “sell (d-)” rating on shares of CyberArk Software in a report on Thursday, January 29th. Mizuho cut their target price on CyberArk Software from $520.00 to $470.00 and set an “outperform” rating on the stock in a research report on Thursday, February 5th. Barclays lowered their price target on CyberArk Software from $520.00 to $460.00 and set an “equal weight” rating for the company in a research report on Thursday, February 5th. Finally, Piper Sandler set a $474.00 price objective on shares of CyberArk Software in a research note on Wednesday, December 17th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, twenty-three have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, CyberArk Software currently has an average rating of “Hold” and a consensus price target of $462.46.

CyberArk Software Stock Down 0.1%

Shares of CYBR opened at $408.85 on Thursday. The firm has a market capitalization of $20.64 billion, a P/E ratio of -139.54, a P/E/G ratio of 18.11 and a beta of 0.91. CyberArk Software Ltd. has a 12-month low of $288.63 and a 12-month high of $526.19. The company has a current ratio of 2.00, a quick ratio of 2.14 and a debt-to-equity ratio of 0.51. The firm has a fifty day moving average price of $444.92 and a 200-day moving average price of $460.20.

CyberArk Software (NASDAQ:CYBR) last posted its quarterly earnings results on Wednesday, February 4th. The technology company reported $1.33 EPS for the quarter, topping the consensus estimate of $1.15 by $0.18. The company had revenue of $372.65 million for the quarter, compared to the consensus estimate of $377.22 million. CyberArk Software had a negative net margin of 10.79% and a positive return on equity of 0.77%. The firm’s revenue was up 18.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.80 EPS. Equities research analysts expect that CyberArk Software Ltd. will post -0.47 earnings per share for the current year.

CyberArk Software 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.