California Public Employees Retirement System Trims Stock Position in CyberArk Software Ltd. (NASDAQ:CYBR)

California Public Employees Retirement System decreased its position in shares of CyberArk Software Ltd. (NASDAQ:CYBR) by 4.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 71,285 shares of the technology company’s stock after selling 3,366 shares during the quarter. California Public Employees Retirement System owned approximately 0.17% of CyberArk Software worth $15,615,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Assetmark Inc. grew its position in CyberArk Software by 62.1% during the 3rd quarter. Assetmark Inc. now owns 248 shares of the technology company’s stock worth $41,000 after purchasing an additional 95 shares during the last quarter. Desjardins Global Asset Management Inc. increased its position in CyberArk Software by 22.1% in the 4th quarter. Desjardins Global Asset Management Inc. now owns 282 shares of the technology company’s stock valued at $62,000 after acquiring an additional 51 shares during the period. Headlands Technologies LLC purchased a new stake in CyberArk Software during the 3rd quarter valued at approximately $84,000. Blue Trust Inc. lifted its position in CyberArk Software by 20.6% during the 4th quarter. Blue Trust Inc. now owns 562 shares of the technology company’s stock worth $123,000 after acquiring an additional 96 shares during the period. Finally, Pacer Advisors Inc. increased its holdings in shares of CyberArk Software by 14.9% in the fourth quarter. Pacer Advisors Inc. now owns 564 shares of the technology company’s stock valued at $124,000 after purchasing an additional 73 shares during the period. Institutional investors and hedge funds own 91.84% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. UBS Group boosted their price objective on shares of CyberArk Software from $215.00 to $260.00 and gave the company a “buy” rating in a research note on Wednesday, January 10th. KeyCorp boosted their target price on CyberArk Software from $274.00 to $305.00 and gave the stock an “overweight” rating in a research report on Friday, February 9th. Bank of America reissued a “buy” rating and issued a $315.00 price target on shares of CyberArk Software in a report on Wednesday, April 24th. Cantor Fitzgerald reissued an “overweight” rating and issued a $300.00 target price on shares of CyberArk Software in a report on Wednesday, April 17th. Finally, Truist Financial upped their price target on shares of CyberArk Software from $250.00 to $300.00 and gave the stock a “buy” rating in a research note on Friday, February 9th. Two research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $258.54.

CyberArk Software Stock Performance

Shares of CYBR opened at $243.57 on Tuesday. CyberArk Software Ltd. has a fifty-two week low of $120.11 and a fifty-two week high of $283.00. The company has a market capitalization of $10.29 billion, a PE ratio of -150.35 and a beta of 1.05. The stock has a fifty day moving average of $255.69 and a two-hundred day moving average of $224.77.

CyberArk Software (NASDAQ:CYBR) last released its earnings results on Thursday, February 8th. The technology company reported $0.19 EPS for the quarter, beating the consensus estimate of ($0.34) by $0.53. CyberArk Software had a negative return on equity of 8.23% and a negative net margin of 8.84%. The firm had revenue of $223.10 million during the quarter, compared to analyst estimates of $209.65 million. As a group, equities research analysts forecast that CyberArk Software Ltd. will post -1.46 earnings per share for the current fiscal 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.