Banque Cantonale Vaudoise Acquires Shares of 85,951 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 acquired a new stake in shares of Radware Ltd. (NASDAQ:RDWR - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 85,951 shares of the information technology services provider's stock, valued at approximately $1,858,000. Banque Cantonale Vaudoise owned about 0.20% of Radware at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of RDWR. Legal & General Group Plc raised its holdings in Radware by 14.8% during the fourth quarter. Legal & General Group Plc now owns 2,235,702 shares of the information technology services provider's stock valued at $50,370,000 after buying an additional 287,913 shares in the last quarter. Cooper Creek Partners Management LLC raised its holdings in Radware by 264.3% during the fourth quarter. Cooper Creek Partners Management LLC now owns 956,764 shares of the information technology services provider's stock valued at $21,556,000 after buying an additional 694,112 shares in the last quarter. First Trust Advisors LP raised its holdings in Radware by 2.4% during the fourth quarter. First Trust Advisors LP now owns 882,255 shares of the information technology services provider's stock valued at $19,877,000 after buying an additional 20,658 shares in the last quarter. Millennium Management LLC raised its holdings in Radware by 14.0% during the fourth quarter. Millennium Management LLC now owns 613,795 shares of the information technology services provider's stock valued at $13,829,000 after buying an additional 75,474 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its holdings in Radware by 6.8% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 438,003 shares of the information technology services provider's stock valued at $9,868,000 after buying an additional 27,804 shares in the last quarter. Institutional investors and hedge funds own 73.12% of the company's stock.

Radware Stock Performance

Shares of Radware stock traded down $0.27 during trading on Friday, reaching $25.33. The company's stock had a trading volume of 215,677 shares, compared to its average volume of 213,498. The business's fifty day moving average price is $27.21 and its 200-day moving average price is $23.99. The firm has a market cap of $1.08 billion, a price-to-earnings ratio of 79.16 and a beta of 0.99. Radware Ltd. has a one year low of $18.46 and a one year high of $31.57.

Radware (NASDAQ:RDWR - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The information technology services provider reported $0.28 EPS for the quarter, topping analysts' consensus estimates of $0.26 by $0.02. The business had revenue of $74.22 million for the quarter, compared to analyst estimates of $73.42 million. Radware had a return on equity of 6.20% and a net margin of 4.90%. The firm's revenue for the quarter was up 10.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.20 earnings per share. Sell-side analysts anticipate that Radware Ltd. will post 0.28 EPS for the current year.

Wall Street Analysts Forecast Growth

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

Radware 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.