Federated Hermes Inc. Purchases 4,722 Shares of CyberArk Software Ltd. (NASDAQ:CYBR)

Key Points

• Federated Hermes Inc. increased its stake in CyberArk Software by 1.5%, acquiring an additional 4,722 shares, bringing its total ownership to approximately 318,753 shares valued at around $107.7 million.
• CyberArk Software reported a quarterly revenue of $317.6 million, significantly beating analyst expectations, with earnings per share (EPS) of $0.98, exceeding the consensus estimate of $0.79.
• Analysts maintain a consensus rating of "Moderate Buy" for CyberArk, with an average target price of $418.75, despite recent downward adjustments from some firms.

Federated Hermes Inc. lifted its stake in shares of CyberArk Software Ltd. (NASDAQ:CYBR - Free Report) by 1.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 318,753 shares of the technology company's stock after acquiring an additional 4,722 shares during the quarter. Federated Hermes Inc. owned about 0.64% of CyberArk Software worth $107,739,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Golden State Wealth Management LLC grew its position in CyberArk Software by 100.0% in the first quarter. Golden State Wealth Management LLC now owns 78 shares of the technology company's stock worth $26,000 after buying an additional 39 shares during the last quarter. Whipplewood Advisors LLC grew its position in CyberArk Software by 135.3% in the first quarter. Whipplewood Advisors LLC now owns 80 shares of the technology company's stock worth $27,000 after buying an additional 46 shares during the last quarter. Bessemer Group Inc. grew its position in CyberArk Software by 421.1% in the first quarter. Bessemer Group Inc. now owns 99 shares of the technology company's stock worth $33,000 after buying an additional 80 shares during the last quarter. Morse Asset Management Inc acquired a new position in CyberArk Software in the first quarter worth approximately $34,000. Finally, Whittier Trust Co. of Nevada Inc. grew its position in CyberArk Software by 340.0% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 110 shares of the technology company's stock worth $37,000 after buying an additional 85 shares during the last quarter. Institutional investors and hedge funds own 91.84% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on CYBR shares. KeyCorp lowered shares of CyberArk Software from a "strong-buy" rating to a "hold" rating in a research report on Thursday. DA Davidson lifted their price target on shares of CyberArk Software from $465.00 to $518.00 and gave the stock a "buy" rating in a research report on Thursday. BTIG Research lowered shares of CyberArk Software from a "strong-buy" rating to a "hold" rating in a research report on Wednesday. Robert W. Baird reaffirmed a "neutral" rating and issued a $460.00 price objective on shares of CyberArk Software in a research note on Friday. Finally, Oppenheimer reaffirmed a "market perform" rating on shares of CyberArk Software in a research note on Friday. Fifteen analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $433.39.

CyberArk Software Price Performance

Shares of CYBR stock traded up $1.70 on Friday, hitting $413.17. The company's stock had a trading volume of 2,562,173 shares, compared to its average volume of 866,251. CyberArk Software Ltd. has a fifty-two week low of $230.00 and a fifty-two week high of $452.00. The firm's fifty day moving average price is $391.33 and its 200-day moving average price is $367.51. The stock has a market capitalization of $20.42 billion, a price-to-earnings ratio of -122.64 and a beta of 1.00.

CyberArk Software (NASDAQ:CYBR - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The technology company reported $0.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.09. CyberArk Software had a negative net margin of 13.78% and a positive return on equity of 0.45%. The company had revenue of $328.03 million for the quarter, compared to the consensus estimate of $315.43 million. During the same quarter in the previous year, the firm posted $0.54 EPS. The business's revenue was up 46.0% compared to the same quarter last year. Analysts predict that CyberArk Software Ltd. will post -0.47 EPS for the current fiscal year.

CyberArk Software 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.