Banque Cantonale Vaudoise Invests $1.86 Million in Radware Ltd. (NASDAQ:RDWR)

Key Points

• Banque Cantonale Vaudoise has acquired 85,951 shares of Radware Ltd., representing a stake valued at approximately $1,858,000, bringing its total ownership to about 0.20% by the end of the first quarter.
• Other institutional investors have also increased their stakes in Radware, including ARK Investment Management (up 13.5%) and New York State Common Retirement Fund (up 12.2%).
• Radware reported earnings of $0.28 per share for the last quarter, exceeding estimates, with a revenue of $74.22 million, reflecting a 10.3% year-over-year increase.

Banque Cantonale Vaudoise purchased a new position in shares of Radware Ltd. (NASDAQ:RDWR - Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 85,951 shares of the information technology services provider's stock, valued at approximately $1,858,000. Banque Cantonale Vaudoise owned approximately 0.20% of Radware at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Radware by 18.5% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 18,941 shares of the information technology services provider's stock worth $416,000 after purchasing an additional 2,960 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Radware by 34.1% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 83,660 shares of the information technology services provider's stock valued at $1,885,000 after acquiring an additional 21,252 shares in the last quarter. Envestnet Asset Management Inc. raised its holdings in Radware by 424.5% in the fourth quarter. Envestnet Asset Management Inc. now owns 51,904 shares of the information technology services provider's stock valued at $1,169,000 after acquiring an additional 42,009 shares in the last quarter. SG Americas Securities LLC acquired a new stake in Radware in the first quarter valued at $2,127,000. Finally, ARK Investment Management LLC raised its holdings in Radware by 13.5% in the first quarter. ARK Investment Management LLC now owns 89,327 shares of the information technology services provider's stock valued at $1,931,000 after acquiring an additional 10,594 shares in the last quarter. 73.12% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Wolfe Research assumed coverage on shares of Radware in a report on Tuesday, July 8th. They issued an "outperform" rating on the stock. Jefferies Financial Group increased their target price on shares of Radware from $25.00 to $30.00 and gave the stock a "hold" rating in a report on Thursday, July 24th. Finally, Barclays reissued an "overweight" rating and set a $35.00 target price (up from $30.00) on shares of Radware in a report on Thursday. Two research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $32.50.

Radware Stock Performance

Shares of NASDAQ:RDWR traded down $0.27 during trading hours on Friday, hitting $25.33. 215,677 shares of the company's stock traded hands, compared to its average volume of 285,115. Radware Ltd. has a 52 week low of $18.46 and a 52 week high of $31.57. The company's fifty day simple moving average is $27.25 and its two-hundred day simple moving average is $24.04. The company has a market cap of $1.08 billion, a price-to-earnings ratio of 79.16 and a beta of 0.97.

Radware (NASDAQ:RDWR - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The information technology services provider reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.02. The company had revenue of $74.22 million during the quarter, compared to analyst estimates of $73.42 million. Radware had a net margin of 4.90% and a return on equity of 6.11%. The business's revenue for the quarter was up 10.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.20 EPS. On average, analysts anticipate that Radware Ltd. will post 0.28 EPS for the current fiscal year.

Radware Company Profile

Radware Ltd., together with its subsidiaries, develops, manufactures, and markets cyber security and application delivery solutions for cloud, on-premises, and software defined data centers worldwide. The company operates in two segments, Radware's Core Business and The Hawks' Business. It offers DefensePro provides automated DDoS protection; Radware Kubernetes, a web application firewall solution; and Cyber Controller, a unified solution for management, configuration, and attack lifecycle.