CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT Acquires New Holdings in CyberArk Software Ltd. (NASDAQ:CYBR)

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT acquired a new position in CyberArk Software Ltd. (NASDAQ:CYBR - Free Report) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 5,000 shares of the technology company's stock, valued at approximately $1,690,000.

Other hedge funds have also modified their holdings of the company. Rhumbline Advisers raised its holdings in CyberArk Software by 3.4% in the 4th quarter. Rhumbline Advisers now owns 15,130 shares of the technology company's stock worth $5,041,000 after purchasing an additional 499 shares during the period. D.A. Davidson & CO. acquired a new position in shares of CyberArk Software during the 4th quarter worth approximately $225,000. Sigma Planning Corp acquired a new position in shares of CyberArk Software during the 4th quarter worth approximately $222,000. IFP Advisors Inc lifted its position in shares of CyberArk Software by 12.7% during the 4th quarter. IFP Advisors Inc now owns 487 shares of the technology company's stock valued at $162,000 after buying an additional 55 shares in the last quarter. Finally, New York Life Investment Management LLC grew its stake in CyberArk Software by 24.8% in the 4th quarter. New York Life Investment Management LLC now owns 1,047 shares of the technology company's stock valued at $349,000 after acquiring an additional 208 shares during the period. 91.84% of the stock is owned by hedge funds and other institutional investors.

CyberArk Software Stock Performance

NASDAQ CYBR traded down $15.15 during mid-day trading on Tuesday, reaching $391.73. 742,768 shares of the stock were exchanged, compared to its average volume of 560,729. The stock has a market capitalization of $19.36 billion, a PE ratio of -210.61 and a beta of 0.99. CyberArk Software Ltd. has a 1-year low of $230.00 and a 1-year high of $421.00. The business's fifty day simple moving average is $374.49 and its 200 day simple moving average is $358.03.

CyberArk Software (NASDAQ:CYBR - Get Free Report) last announced its quarterly earnings data on Tuesday, May 13th. The technology company reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.79 by $0.19. CyberArk Software had a negative net margin of 7.97% and a positive return on equity of 0.71%. The business had revenue of $317.60 million for the quarter, compared to analyst estimates of $305.57 million. During the same period in the prior year, the firm posted $0.75 EPS. The company's revenue was up 43.3% on a year-over-year basis. On average, analysts anticipate that CyberArk Software Ltd. will post -0.47 EPS for the current year.

Analysts Set New Price Targets

CYBR has been the subject of a number of research analyst reports. Royal Bank Of Canada restated an "outperform" rating and set a $420.00 price objective on shares of CyberArk Software in a research report on Tuesday, May 13th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $400.00 price objective on shares of CyberArk Software in a report on Tuesday, May 13th. DA Davidson raised their target price on CyberArk Software from $435.00 to $465.00 and gave the company a "buy" rating in a research report on Thursday, June 12th. Morgan Stanley reiterated an "equal weight" rating on shares of CyberArk Software in a research report on Tuesday, May 13th. Finally, Rosenblatt Securities reiterated a "buy" rating and issued a $445.00 price objective on shares of CyberArk Software in a research report on Tuesday, May 13th. Two investment analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $416.79.

CyberArk Software Company Profile

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.