Congress Asset Management Co. Reduces Position in CyberArk Software Ltd. $CYBR

Congress Asset Management Co. lessened its holdings in shares of CyberArk Software Ltd. (NASDAQ:CYBR) by 7.5% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 272,506 shares of the technology company’s stock after selling 21,945 shares during the quarter. Congress Asset Management Co. owned about 0.54% of CyberArk Software worth $131,662,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Signal Advisors Wealth LLC boosted its holdings in CyberArk Software by 0.6% in the 3rd quarter. Signal Advisors Wealth LLC now owns 3,917 shares of the technology company’s stock worth $1,892,000 after buying an additional 24 shares during the period. Dynamic Advisor Solutions LLC lifted its position in shares of CyberArk Software by 2.2% during the third quarter. Dynamic Advisor Solutions LLC now owns 1,763 shares of the technology company’s stock worth $852,000 after acquiring an additional 38 shares in the last quarter. Armstrong Advisory Group Inc. boosted its holdings in shares of CyberArk Software by 7.3% in the third quarter. Armstrong Advisory Group Inc. now owns 751 shares of the technology company’s stock worth $363,000 after acquiring an additional 51 shares during the period. Sanders Morris Harris LLC purchased a new position in shares of CyberArk Software in the third quarter valued at $348,000. Finally, GAMMA Investing LLC grew its position in shares of CyberArk Software by 116.1% in the third quarter. GAMMA Investing LLC now owns 121 shares of the technology company’s stock valued at $58,000 after purchasing an additional 65 shares in the last quarter. Institutional investors own 91.84% of the company’s stock.

Wall Street Analysts Forecast Growth

CYBR has been the topic of a number of recent research reports. Weiss Ratings initiated coverage on CyberArk Software in a report on Saturday, November 1st. They set a “sell (d-)” rating on the stock. Zacks Research raised shares of CyberArk Software from a “strong sell” rating to a “hold” rating in a report on Wednesday, November 19th. Piper Sandler set a $474.00 price objective on shares of CyberArk Software in a research report on Wednesday. JPMorgan Chase & Co. assumed coverage on shares of CyberArk Software in a research note on Wednesday. They issued a “neutral” rating and a $474.00 target price on the stock. Finally, Citigroup lowered shares of CyberArk Software from a “buy” rating to a “hold” rating and boosted their price target for the company from $465.00 to $524.00 in a research report on Tuesday, November 4th. Six analysts have rated the stock with a Buy rating, twenty-five have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $462.63.

CyberArk Software Trading Up 0.7%

Shares of CYBR stock opened at $451.81 on Friday. The business has a 50-day moving average price of $481.84 and a two-hundred day moving average price of $446.94. CyberArk Software Ltd. has a 12-month low of $288.63 and a 12-month high of $526.19. The company has a quick ratio of 2.14, a current ratio of 2.14 and a debt-to-equity ratio of 0.52. The firm has a market cap of $22.81 billion, a P/E ratio of -98.01, a price-to-earnings-growth ratio of 24.31 and a beta of 0.99.

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. Equities analysts anticipate that CyberArk Software Ltd. will post -0.47 EPS for the current fiscal year.

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.