Norges Bank Purchases New Position in CyberArk Software Ltd. $CYBR

Norges Bank acquired a new stake in CyberArk Software Ltd. (NASDAQ:CYBR) in the 2nd quarter, HoldingsChannel.com reports. The fund acquired 1,092,737 shares of the technology company’s stock, valued at approximately $444,613,000.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Hsbc Holdings PLC grew its stake in shares of CyberArk Software by 1.8% during the second quarter. Hsbc Holdings PLC now owns 22,550 shares of the technology company’s stock worth $9,131,000 after buying an additional 405 shares during the last quarter. Capital Fund Management S.A. boosted its holdings in shares of CyberArk Software by 13.0% during the 2nd quarter. Capital Fund Management S.A. now owns 12,241 shares of the technology company’s stock valued at $4,981,000 after acquiring an additional 1,407 shares in the last quarter. Quadrant Capital Group LLC grew its position in CyberArk Software by 32.2% during the 2nd quarter. Quadrant Capital Group LLC now owns 3,335 shares of the technology company’s stock worth $1,357,000 after acquiring an additional 813 shares during the last quarter. Employees Retirement System of Texas acquired a new position in CyberArk Software in the 2nd quarter worth about $152,000. Finally, Northwest & Ethical Investments L.P. bought a new position in CyberArk Software in the second quarter valued at about $1,253,000. Institutional investors and hedge funds own 91.84% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on CYBR. Canaccord Genuity Group downgraded CyberArk Software from a “buy” rating to a “hold” rating and upped their price objective for the company from $440.00 to $502.00 in a research note on Wednesday, October 15th. DA Davidson restated a “buy” rating and issued a $518.00 price target on shares of CyberArk Software in a research report on Friday, November 7th. Scotiabank reaffirmed a “sector perform” rating and set a $448.00 price target (down previously from $460.00) on shares of CyberArk Software in a research note on Tuesday, August 5th. Barclays reiterated an “equal weight” rating and set a $520.00 price target (up previously from $440.00) on shares of CyberArk Software in a report on Tuesday, October 14th. Finally, Zacks Research upgraded CyberArk Software from a “strong sell” rating to a “hold” rating in a report on Wednesday, November 19th. Eight investment analysts have rated the stock with a Buy rating, twenty-three have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, CyberArk Software has a consensus rating of “Hold” and a consensus target price of $455.96.

CyberArk Software Trading Up 4.4%

CYBR opened at $465.00 on Friday. CyberArk Software Ltd. has a twelve month low of $288.63 and a twelve month high of $526.19. The company has a fifty day moving average of $491.24 and a 200-day moving average of $437.66. The stock has a market cap of $23.47 billion, a PE ratio of -137.98 and a beta of 1.01. The company has a quick ratio of 2.31, a current ratio of 2.31 and a debt-to-equity ratio of 0.53.

CyberArk Software (NASDAQ:CYBR) last issued its quarterly earnings results on Thursday, November 6th. The technology company reported $1.20 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.28. CyberArk Software had a negative net margin of 13.78% and a positive return on equity of 0.44%. The business had revenue of $342.84 million for the quarter, compared to analysts’ expectations of $328.52 million. During the same quarter in the prior year, the firm posted $0.94 earnings per share. The business’s quarterly revenue was up 42.8% compared to the same quarter last year. On average, sell-side analysts predict that CyberArk Software Ltd. will post -0.47 EPS for the current year.

CyberArk Software Company 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.