Retirement Systems of Alabama Sells 1,300 Shares of CyberArk Software Ltd. $CYBR

Retirement Systems of Alabama decreased its position in CyberArk Software Ltd. (NASDAQ:CYBR) by 8.4% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 14,187 shares of the technology company’s stock after selling 1,300 shares during the period. Retirement Systems of Alabama’s holdings in CyberArk Software were worth $6,854,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank bought a new position in shares of CyberArk Software in the second quarter valued at approximately $444,613,000. Clal Insurance Enterprises Holdings Ltd boosted its position in CyberArk Software by 85.3% in the second quarter. Clal Insurance Enterprises Holdings Ltd now owns 362,752 shares of the technology company’s stock worth $147,597,000 after purchasing an additional 167,000 shares during the last quarter. Lazard Asset Management LLC grew its stake in CyberArk Software by 175.8% in the 2nd quarter. Lazard Asset Management LLC now owns 243,637 shares of the technology company’s stock valued at $99,130,000 after purchasing an additional 155,294 shares during the period. Anatole Investment Management Ltd purchased a new stake in shares of CyberArk Software during the 2nd quarter valued at $58,075,000. Finally, Fiera Capital Corp purchased a new stake in shares of CyberArk Software during the 2nd quarter valued at $52,143,000. Hedge funds and other institutional investors own 91.84% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on CYBR. Weiss Ratings started coverage on shares of CyberArk Software in a report on Saturday, November 1st. They set a “sell (d-)” rating for the company. Citigroup downgraded shares of CyberArk Software from a “buy” rating to a “hold” rating and increased their target price for the company from $465.00 to $524.00 in a research report on Tuesday, November 4th. Piper Sandler set a $474.00 price target on shares of CyberArk Software in a report on Wednesday, December 17th. JPMorgan Chase & Co. started coverage on CyberArk Software in a research note on Wednesday, December 17th. They issued a “neutral” rating and a $474.00 price objective on the stock. Finally, Barclays reissued an “equal weight” rating and issued a $520.00 target price (up from $440.00) on shares of CyberArk Software in a research report on Tuesday, October 14th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, twenty-three have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $462.63.

CyberArk Software Trading Down 3.7%

NASDAQ:CYBR opened at $429.15 on Friday. CyberArk Software Ltd. has a 1 year low of $288.63 and a 1 year high of $526.19. The stock’s fifty day moving average price is $452.76 and its two-hundred day moving average price is $457.87. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.14 and a quick ratio of 2.14. The company has a market cap of $21.66 billion, a P/E ratio of -93.09, a P/E/G ratio of 20.33 and a beta of 0.92.

CyberArk Software (NASDAQ:CYBR) last released its quarterly earnings data on Thursday, November 6th. The technology company reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.28. The company had revenue of $342.84 million for the quarter, compared to analyst estimates of $328.52 million. CyberArk Software had a negative return on equity of 0.07% and a negative net margin of 17.42%.The firm’s revenue for the quarter was up 42.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.94 EPS. As a group, analysts expect that CyberArk Software Ltd. will post -0.47 EPS for the current year.

About CyberArk Software

CyberArk Software Ltd. is a cybersecurity company that focuses on identity security and privileged access management. Its core mission is to protect organizations from cyber threats that target privileged accounts, credentials and secrets that can provide attackers with broad access to critical systems. CyberArk’s offerings are designed to help enterprises control, monitor and secure privileged credentials across on-premises, cloud and hybrid environments, reducing the risk of lateral movement and data breaches.

The company delivers a suite of software and cloud services that address privileged access, secrets management, endpoint privilege management and identity-based threat detection.