TD Asset Management Inc Grows Position in CyberArk Software Ltd. $CYBR

Key Points

• TD Asset Management Inc increased its stake in CyberArk Software Ltd. by 136% during Q2, acquiring an additional 25,093 shares, bringing its total to 43,537 shares valued at approximately $17.7 million.
• Several other institutional investors, including Invesco Ltd. and Price T Rowe Associates Inc., also significantly raised their positions in CyberArk, with the overall institutional ownership reaching 91.84%.
• CyberArk's recent earnings report showed a positive trend, with a 46% increase in revenue year-over-year and earnings per share of $0.88, surpassing analyst expectations.

TD Asset Management Inc raised its position in CyberArk Software Ltd. (NASDAQ:CYBR - Free Report) by 136.0% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 43,537 shares of the technology company's stock after acquiring an additional 25,093 shares during the quarter. TD Asset Management Inc owned approximately 0.09% of CyberArk Software worth $17,714,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Invesco Ltd. raised its holdings in shares of CyberArk Software by 12.2% in the 1st quarter. Invesco Ltd. now owns 1,129,894 shares of the technology company's stock valued at $381,904,000 after purchasing an additional 122,423 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in CyberArk Software by 1,598.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 979,181 shares of the technology company's stock valued at $330,964,000 after buying an additional 921,523 shares in the last quarter. Voya Investment Management LLC lifted its holdings in CyberArk Software by 0.7% during the 1st quarter. Voya Investment Management LLC now owns 888,898 shares of the technology company's stock worth $300,448,000 after buying an additional 6,314 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in CyberArk Software by 82.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 740,504 shares of the technology company's stock worth $250,290,000 after buying an additional 335,634 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its position in shares of CyberArk Software by 18.7% during the 1st quarter. JPMorgan Chase & Co. now owns 675,032 shares of the technology company's stock worth $228,161,000 after acquiring an additional 106,435 shares in the last quarter. Institutional investors and hedge funds own 91.84% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on CYBR. Robert W. Baird reissued a "neutral" rating and set a $460.00 target price on shares of CyberArk Software in a research report on Friday, August 1st. Rosenblatt Securities cut shares of CyberArk Software from a "strong-buy" rating to a "hold" rating and set a $445.00 price objective on the stock. in a report on Friday, August 1st. Canaccord Genuity Group downgraded shares of CyberArk Software from a "buy" rating to a "hold" rating and boosted their price objective for the stock from $440.00 to $502.00 in a research report on Wednesday. Guggenheim cut shares of CyberArk Software from a "strong-buy" rating to a "hold" rating and set a $455.00 target price for the company. in a report on Thursday, July 31st. Finally, Needham & Company LLC lifted their price target on shares of CyberArk Software from $460.00 to $551.00 and gave the stock a "buy" rating in a research note on Wednesday, July 30th. Ten equities research analysts have rated the stock with a Buy rating and twenty-one have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $448.85.

CyberArk Software Price Performance

Shares of NASDAQ CYBR opened at $490.95 on Friday. The company has a current ratio of 2.31, a quick ratio of 2.31 and a debt-to-equity ratio of 0.53. CyberArk Software Ltd. has a twelve month low of $271.68 and a twelve month high of $514.28. The stock has a 50 day moving average of $466.92 and a two-hundred day moving average of $405.43. The stock has a market cap of $24.78 billion, a P/E ratio of -145.68 and a beta of 1.01.

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

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