Raymond James Financial Inc. Sells 15,355 Shares of CyberArk Software Ltd. $CYBR

Key Points

• Raymond James Financial Inc. reduced its stake in CyberArk Software by 28.3%, selling 15,355 shares and now holding approximately 0.08% of the company, valued at $13.18 million.
• Hedge funds and other institutional investors have shown mixed activity in CyberArk, with notable purchases and stakes such as a 63.1% increase from Northern Trust Corp and the entry of new investors like Tower Research Capital LLC.
• Financial analysts have lowered their ratings on CyberArk Software, with Guggenheim and UBS Group downgrading the stock to "hold" and setting a new target price between $455.00 and $485.00.

Raymond James Financial Inc. reduced its stake in CyberArk Software Ltd. (NASDAQ:CYBR - Free Report) by 28.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 38,994 shares of the technology company's stock after selling 15,355 shares during the period. Raymond James Financial Inc. owned 0.08% of CyberArk Software worth $13,180,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Dimensional Fund Advisors LP lifted its position in CyberArk Software by 0.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 6,684 shares of the technology company's stock worth $2,227,000 after acquiring an additional 53 shares during the last quarter. Tower Research Capital LLC TRC acquired a new stake in CyberArk Software during the 4th quarter worth approximately $152,000. Susquehanna Fundamental Investments LLC bought a new stake in CyberArk Software in the 4th quarter valued at $554,000. The Manufacturers Life Insurance Company boosted its stake in CyberArk Software by 5.9% in the 4th quarter. The Manufacturers Life Insurance Company now owns 107,851 shares of the technology company's stock valued at $35,931,000 after purchasing an additional 5,971 shares during the period. Finally, Northern Trust Corp grew its holdings in CyberArk Software by 63.1% in the 4th quarter. Northern Trust Corp now owns 219,964 shares of the technology company's stock valued at $73,281,000 after buying an additional 85,062 shares in the last quarter. Institutional investors own 91.84% of the company's stock.

CyberArk Software Trading Up 0.1%

CyberArk Software stock traded up $0.36 during mid-day trading on Wednesday, hitting $453.53. 407,205 shares of the stock were exchanged, compared to its average volume of 934,918. 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 stock has a market capitalization of $22.42 billion, a price-to-earnings ratio of -134.63 and a beta of 1.03. The firm's fifty day simple moving average is $408.55 and its two-hundred day simple moving average is $376.49. CyberArk Software Ltd. has a 12 month low of $254.43 and a 12 month high of $457.07.

CyberArk Software (NASDAQ:CYBR - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The technology company reported $0.88 earnings per share for the quarter, topping analysts' consensus estimates 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 firm had revenue of $328.03 million during the quarter, compared to the consensus estimate of $315.43 million. During the same period last year, the business posted $0.54 EPS. The business's revenue was up 46.0% compared to the same quarter last year. Analysts forecast that CyberArk Software Ltd. will post -0.47 EPS for the current year.

Wall Street Analysts Forecast Growth

CYBR has been the topic of several research reports. Rosenblatt Securities downgraded shares of CyberArk Software from a "strong-buy" rating to a "hold" rating and set a $445.00 price target on the stock. in a research note on Friday, August 1st. Stifel Nicolaus reiterated a "hold" rating and issued a $444.00 price target on shares of CyberArk Software in a research report on Thursday, July 31st. Barclays raised their price objective on CyberArk Software from $405.00 to $440.00 and gave the stock an "overweight" rating in a research note on Monday, July 14th. Guggenheim lowered CyberArk Software from a "strong-buy" rating to a "hold" rating and set a $455.00 target price on the stock. in a report on Thursday, July 31st. Finally, William Blair cut shares of CyberArk Software from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, July 30th. Fourteen 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.com, CyberArk Software presently has an average rating of "Hold" and a consensus target price of $435.11.

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.