Federation des caisses Desjardins du Quebec Reduces Holdings in CyberArk Software Ltd. $CYBR

Key Points

• The Federation des caisses Desjardins du Quebec reduced its stake in CyberArk Software by 14.2%, ending the first quarter with 5,975 shares valued at approximately $2,020,000.
• Multiple hedge funds have recently adjusted their positions in CyberArk, with notable increases from Invesco Ltd. (up 12.2%) and Price T Rowe Associates Inc. MD (up 1,598.3%).
• CyberArk Software reported a positive quarterly performance with $328.03 million in revenue, surpassing analyst estimates, and an EPS of $0.88, beating the expected $0.79.

Federation des caisses Desjardins du Quebec decreased its position in shares of CyberArk Software Ltd. (NASDAQ:CYBR - Free Report) by 14.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,975 shares of the technology company's stock after selling 985 shares during the quarter. Federation des caisses Desjardins du Quebec's holdings in CyberArk Software were worth $2,020,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Bessemer Group Inc. increased its holdings in shares of CyberArk Software by 421.1% during the first quarter. Bessemer Group Inc. now owns 99 shares of the technology company's stock valued at $33,000 after acquiring an additional 80 shares in the last quarter. Golden State Wealth Management LLC increased its holdings in shares of CyberArk Software by 100.0% during the first quarter. Golden State Wealth Management LLC now owns 78 shares of the technology company's stock valued at $26,000 after acquiring an additional 39 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of CyberArk Software by 17.6% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,868 shares of the technology company's stock valued at $627,000 after acquiring an additional 280 shares in the last quarter. Blue Trust Inc. increased its holdings in shares of CyberArk Software by 5.9% during the first quarter. Blue Trust Inc. now owns 1,099 shares of the technology company's stock valued at $371,000 after acquiring an additional 61 shares in the last quarter. Finally, Yousif Capital Management LLC increased its holdings in shares of CyberArk Software by 9.1% during the first quarter. Yousif Capital Management LLC now owns 2,235 shares of the technology company's stock valued at $755,000 after acquiring an additional 187 shares in the last quarter. Institutional investors own 91.84% of the company's stock.

CyberArk Software Stock Performance

CYBR stock traded down $4.89 during midday trading on Friday, hitting $466.30. The company's stock had a trading volume of 639,038 shares, compared to its average volume of 898,057. The stock's 50-day moving average price is $419.28 and its 200 day moving average price is $380.51. The company has a quick ratio of 2.31, a current ratio of 2.31 and a debt-to-equity ratio of 0.53. CyberArk Software Ltd. has a 1 year low of $266.64 and a 1 year high of $480.59. The stock has a market cap of $23.05 billion, a price-to-earnings ratio of -138.37 and a beta of 1.03.

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 for the quarter, topping the consensus estimate of $0.79 by $0.09. CyberArk Software had a positive return on equity of 0.44% and a negative net margin of 13.78%.The business had revenue of $328.03 million for the quarter, compared to analysts' expectations of $315.43 million. During the same quarter in the previous year, the firm earned $0.54 earnings per share. The business's revenue was up 46.0% on a year-over-year basis. On average, equities analysts forecast that CyberArk Software Ltd. will post -0.47 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Barclays upped their price target on CyberArk Software from $405.00 to $440.00 and gave the stock an "overweight" rating in a report on Monday, July 14th. Needham & Company LLC upped their price target on CyberArk Software from $460.00 to $551.00 and gave the stock a "buy" rating in a report on Wednesday, July 30th. UBS Group downgraded CyberArk Software from a "strong-buy" rating to a "hold" rating and upped their price target for the stock from $480.00 to $485.00 in a report on Thursday, July 31st. Guggenheim downgraded CyberArk Software from a "strong-buy" rating to a "hold" rating and set a $455.00 price target for the company. in a report on Thursday, July 31st. Finally, BTIG Research downgraded CyberArk Software from a "strong-buy" rating to a "hold" rating in a report on Wednesday, July 30th. Fourteen equities research analysts have rated the stock with a Buy rating and seventeen have assigned a Hold rating to the company's stock. According to MarketBeat, CyberArk Software has a consensus rating of "Hold" and an average target price of $435.11.

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.