Hennion & Walsh Asset Management Inc. Takes $503,000 Position in Radware Ltd. $RDWR

Hennion & Walsh Asset Management Inc. acquired a new position in shares of Radware Ltd. (NASDAQ:RDWR) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 20,898 shares of the information technology services provider’s stock, valued at approximately $503,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. lifted its position in shares of Radware by 47.5% during the 2nd quarter. Russell Investments Group Ltd. now owns 46,506 shares of the information technology services provider’s stock valued at $1,368,000 after acquiring an additional 14,980 shares during the period. New York State Common Retirement Fund grew its holdings in shares of Radware by 21.8% in the 2nd quarter. New York State Common Retirement Fund now owns 215,632 shares of the information technology services provider’s stock worth $6,348,000 after acquiring an additional 38,547 shares during the period. First Trust Advisors LP increased its stake in Radware by 5.4% in the 2nd quarter. First Trust Advisors LP now owns 1,172,054 shares of the information technology services provider’s stock valued at $34,505,000 after purchasing an additional 59,814 shares in the last quarter. Jump Financial LLC raised its holdings in Radware by 126.5% during the second quarter. Jump Financial LLC now owns 40,998 shares of the information technology services provider’s stock worth $1,207,000 after purchasing an additional 22,898 shares during the last quarter. Finally, Sei Investments Co. raised its holdings in Radware by 23.5% during the second quarter. Sei Investments Co. now owns 91,954 shares of the information technology services provider’s stock worth $2,707,000 after purchasing an additional 17,501 shares during the last quarter. 73.12% of the stock is currently owned by institutional investors and hedge funds.

Radware Price Performance

NASDAQ:RDWR opened at $27.20 on Friday. The firm has a market cap of $1.17 billion, a PE ratio of 60.45 and a beta of 0.87. The firm has a 50 day simple moving average of $25.26 and a 200-day simple moving average of $24.85. Radware Ltd. has a 1-year low of $18.46 and a 1-year high of $31.57.

Radware (NASDAQ:RDWR) last released its earnings results on Wednesday, February 11th. The information technology services provider reported $0.32 EPS for the quarter, topping the consensus estimate of $0.30 by $0.02. Radware had a net margin of 6.71% and a return on equity of 7.21%. The firm had revenue of $80.25 million during the quarter, compared to analysts’ expectations of $78.65 million. During the same period in the previous year, the company earned $0.27 EPS. Radware’s revenue for the quarter was up 9.9% on a year-over-year basis. As a group, sell-side analysts expect that Radware Ltd. will post 0.28 earnings per share for the current fiscal year.

Radware announced that its board has approved a stock repurchase plan on Friday, February 13th that allows the company to repurchase $80.00 million in shares. This repurchase authorization allows the information technology services provider to reacquire up to 7.1% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Weiss Ratings reissued a “sell (d+)” rating on shares of Radware in a report on Friday, March 27th. Wall Street Zen upgraded shares of Radware from a “hold” rating to a “buy” rating in a research report on Saturday. Finally, Jefferies Financial Group set a $25.00 price objective on shares of Radware in a research note on Tuesday, December 16th. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Radware presently has an average rating of “Hold” and an average price target of $30.00.

Radware Company Profile

Radware Ltd. provides cybersecurity and application delivery solutions designed to ensure the availability, performance and security of mission‐critical applications. Its product portfolio includes on‐premises and cloud‐based offerings such as Alteon application delivery controllers, DefensePro network behavior analysis for DDoS mitigation and AppWall web application firewall. The company’s platforms use real‐time behavioral analysis, machine learning and automation to protect against distributed denial‐of‐service attacks, application layer threats and network intrusions.

Founded in 1997, Radware is co-headquartered in Tel Aviv, Israel, with a principal U.S.