Connor Clark & Lunn Investment Management Ltd. grew its holdings in Radware Ltd. (NASDAQ:RDWR) by 87.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 179,445 shares of the information technology services provider’s stock after purchasing an additional 83,675 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.40% of Radware worth $4,750,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. US Bancorp DE raised its position in shares of Radware by 13.1% during the 2nd quarter. US Bancorp DE now owns 23,407 shares of the information technology services provider’s stock valued at $591,000 after buying an additional 2,715 shares during the period. Acadian Asset Management LLC raised its position in shares of Radware by 155.3% during the 3rd quarter. Acadian Asset Management LLC now owns 1,792,713 shares of the information technology services provider’s stock valued at $47,451,000 after buying an additional 1,090,520 shares during the period. EAM Global Investors LLC purchased a new stake in shares of Radware during the 3rd quarter valued at approximately $2,215,000. Granahan Investment Management Inc. MA raised its position in shares of Radware by 9.5% during the 2nd quarter. Granahan Investment Management Inc. MA now owns 203,366 shares of the information technology services provider’s stock valued at $5,141,000 after buying an additional 17,615 shares during the period. Finally, United Services Automobile Association raised its position in shares of Radware by 9.5% during the 2nd quarter. United Services Automobile Association now owns 203,165 shares of the information technology services provider’s stock valued at $5,136,000 after buying an additional 17,600 shares during the period. 63.11% of the stock is currently owned by institutional investors and hedge funds.
Radware stock opened at $22.81 on Monday. Radware Ltd. has a fifty-two week low of $18.00 and a fifty-two week high of $28.50. The company has a market capitalization of $1.02 billion, a P/E ratio of -190.08, a P/E/G ratio of 5.40 and a beta of 1.09.
Radware (NASDAQ:RDWR) last posted its earnings results on Wednesday, November 7th. The information technology services provider reported $0.15 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.11 by $0.04. Radware had a net margin of 2.58% and a return on equity of 1.81%. The firm had revenue of $58.80 million during the quarter, compared to the consensus estimate of $58.14 million. During the same quarter last year, the firm earned $0.04 EPS. The firm’s revenue for the quarter was up 10.9% on a year-over-year basis. Equities analysts expect that Radware Ltd. will post 0.22 earnings per share for the current fiscal year.
Several research firms have recently commented on RDWR. Berenberg Bank began coverage on shares of Radware in a research report on Thursday. They set a “buy” rating and a $30.00 price target on the stock. Zacks Investment Research raised shares of Radware from a “hold” rating to a “buy” rating and set a $28.00 price target on the stock in a research report on Saturday, November 10th. Oppenheimer set a $30.00 price target on shares of Radware and gave the company a “buy” rating in a research report on Wednesday, November 7th. Finally, BidaskClub lowered shares of Radware from a “hold” rating to a “sell” rating in a research report on Saturday, October 6th. One research analyst has rated the stock with a sell rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Radware has a consensus rating of “Buy” and a consensus target price of $29.00.
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Radware Company Profile
Radware Ltd. develops, manufactures, and markets cyber security and application delivery solutions for applications in virtual, cloud, and software defined data centers worldwide. The company offers application and network security solutions, such as DefensePro, a real-time network attack prevention device; AppWall, a Web application firewall; and DefenseFlow, a cyber-command and control application.
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