CyberArk Software Ltd. (NASDAQ:CYBR) Holdings Lessened by Herald Investment Management Ltd

Key Points

• Herald Investment Management Ltd has decreased its stake in CyberArk Software Ltd by 10.6%, selling 5,000 shares, and now holds approximately 42,300 shares valued at about $14.3 million.
• Several large investors, including Bessemer Group Inc. and Whipplewood Advisors LLC, have significantly increased their holdings in CyberArk during the first quarter, reflecting strong institutional interest in the company.
• CyberArk Software reported better-than-expected quarterly earnings, with an EPS of $0.88, exceeding analysts' estimates, and a revenue increase of 46% compared to the same quarter last year.

Herald Investment Management Ltd lessened its stake in CyberArk Software Ltd. (NASDAQ:CYBR - Free Report) by 10.6% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 42,300 shares of the technology company's stock after selling 5,000 shares during the quarter. CyberArk Software makes up about 2.7% of Herald Investment Management Ltd's portfolio, making the stock its 9th biggest holding. Herald Investment Management Ltd owned 0.09% of CyberArk Software worth $14,307,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Citigroup Inc. boosted its stake in CyberArk Software by 0.7% during the 1st quarter. Citigroup Inc. now owns 206,140 shares of the technology company's stock worth $69,675,000 after purchasing an additional 1,410 shares during the last quarter. Swiss National Bank boosted its position in shares of CyberArk Software by 9.9% during the 1st quarter. Swiss National Bank now owns 130,900 shares of the technology company's stock valued at $44,244,000 after acquiring an additional 11,800 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of CyberArk Software by 14.4% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 36,802 shares of the technology company's stock valued at $12,439,000 after acquiring an additional 4,622 shares during the last quarter. Y.D. More Investments Ltd boosted its position in shares of CyberArk Software by 0.5% during the 1st quarter. Y.D. More Investments Ltd now owns 6,974 shares of the technology company's stock valued at $2,415,000 after acquiring an additional 38 shares during the last quarter. Finally, Deutsche Bank AG boosted its position in shares of CyberArk Software by 1.0% during the 1st quarter. Deutsche Bank AG now owns 362,296 shares of the technology company's stock valued at $122,456,000 after acquiring an additional 3,726 shares during the last quarter. Hedge funds and other institutional investors own 91.84% of the company's stock.

CyberArk Software Trading Up 0.5%

NASDAQ:CYBR traded up $2.10 during midday trading on Monday, hitting $401.86. The stock had a trading volume of 1,915,051 shares, compared to its average volume of 920,378. The stock has a 50-day moving average of $394.49 and a 200 day moving average of $370.00. The company has a quick ratio of 2.31, a current ratio of 2.31 and a debt-to-equity ratio of 0.53. The company has a market capitalization of $19.86 billion, a price-to-earnings ratio of -119.25 and a beta of 0.96. CyberArk Software Ltd. has a one year low of $254.43 and a one year high of $452.00.

CyberArk Software (NASDAQ:CYBR - Get Free Report) last issued its earnings results on Wednesday, July 30th. The technology company reported $0.88 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.79 by $0.09. The company had revenue of $328.03 million during the quarter, compared to analyst estimates of $315.43 million. CyberArk Software had a positive return on equity of 0.44% and a negative net margin of 13.78%. The firm's quarterly revenue was up 46.0% on a year-over-year basis. During the same quarter last year, the business posted $0.54 EPS. As a group, sell-side analysts forecast that CyberArk Software Ltd. will post -0.47 EPS for the current year.

Analysts Set New Price Targets

CYBR has been the topic of several research reports. Stifel Nicolaus reissued a "hold" rating and set a $444.00 price target on shares of CyberArk Software in a research report on Thursday, July 31st. Barclays raised their target price on shares of CyberArk Software from $405.00 to $440.00 and gave the stock an "overweight" rating in a research report on Monday, July 14th. Piper Sandler reaffirmed a "neutral" rating and set a $448.00 price target (up from $440.00) on shares of CyberArk Software in a research note on Thursday, July 31st. Wedbush reiterated a "neutral" rating and set a $450.00 price objective on shares of CyberArk Software in a research report on Thursday, July 31st. Finally, Wolfe Research cut shares of CyberArk Software from a "strong-buy" rating to a "hold" rating in a research report on Friday, August 1st. Eighteen research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $435.11.

About CyberArk Software

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.