Harvey Partners LLC Sells 2,250 Shares of CyberArk Software Ltd. (NASDAQ:CYBR)

Harvey Partners LLC lessened its stake in shares of CyberArk Software Ltd. (NASDAQ:CYBR) by 5.6% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 37,750 shares of the technology company’s stock after selling 2,250 shares during the quarter. Harvey Partners LLC owned about 0.09% of CyberArk Software worth $11,008,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of CyberArk Software by 3.2% during the 1st quarter. Vanguard Group Inc. now owns 69,147 shares of the technology company’s stock worth $18,368,000 after acquiring an additional 2,113 shares during the last quarter. Cetera Investment Advisers increased its position in shares of CyberArk Software by 527.2% during the first quarter. Cetera Investment Advisers now owns 11,452 shares of the technology company’s stock worth $3,042,000 after purchasing an additional 9,626 shares in the last quarter. Cetera Advisors LLC grew its position in CyberArk Software by 18.2% in the first quarter. Cetera Advisors LLC now owns 5,515 shares of the technology company’s stock worth $1,465,000 after acquiring an additional 851 shares during the period. Transcend Capital Advisors LLC acquired a new position in shares of CyberArk Software in the second quarter worth $249,000. Finally, First Hawaiian Bank lifted its position in shares of CyberArk Software by 8.6% during the 2nd quarter. First Hawaiian Bank now owns 3,082 shares of the technology company’s stock worth $843,000 after buying an additional 245 shares during the last quarter. 91.84% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have commented on CYBR shares. Royal Bank of Canada lifted their target price on shares of CyberArk Software from $328.00 to $358.00 and gave the stock an “outperform” rating in a research note on Thursday, November 14th. Barclays upped their price target on CyberArk Software from $330.00 to $335.00 and gave the stock an “overweight” rating in a research note on Thursday, November 14th. Robert W. Baird increased their price target on CyberArk Software from $315.00 to $355.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Rosenblatt Securities restated a “buy” rating and set a $310.00 target price on shares of CyberArk Software in a research report on Tuesday, August 6th. Finally, Canaccord Genuity Group raised their price target on shares of CyberArk Software from $310.00 to $330.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. One analyst has rated the stock with a hold rating and twenty-six have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $328.37.

CyberArk Software Price Performance

Shares of CYBR stock opened at $319.11 on Tuesday. CyberArk Software Ltd. has a one year low of $198.01 and a one year high of $332.05. The business’s 50 day simple moving average is $295.82 and its 200 day simple moving average is $273.99. The stock has a market capitalization of $13.90 billion, a PE ratio of 1,181.93 and a beta of 1.13.

CyberArk Software (NASDAQ:CYBR) last posted its quarterly earnings results on Wednesday, November 13th. The technology company reported $0.94 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $0.48. The company had revenue of $240.10 million during the quarter, compared to analyst estimates of $234.10 million. CyberArk Software had a net margin of 1.38% and a return on equity of 2.29%. The firm’s revenue was up 25.6% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.31) EPS. As a group, research analysts expect that CyberArk Software Ltd. will post -0.62 earnings per share for the current year.

About CyberArk Software

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.