State Street Corp increased its stake in Radware Ltd. (NASDAQ:RDWR) by 26.8% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 358,524 shares of the information technology services provider’s stock after purchasing an additional 75,833 shares during the period. State Street Corp owned 0.76% of Radware worth $7,554,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also made changes to their positions in the company. BNP Paribas Arbitrage SA acquired a new stake in Radware during the 1st quarter valued at approximately $111,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Radware by 16.0% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,788 shares of the information technology services provider’s stock valued at $143,000 after acquiring an additional 934 shares during the period. Stifel Financial Corp acquired a new stake in Radware during the 4th quarter valued at approximately $203,000. Wells Fargo & Company MN lifted its stake in Radware by 71.1% during the 1st quarter. Wells Fargo & Company MN now owns 11,115 shares of the information technology services provider’s stock valued at $234,000 after acquiring an additional 4,620 shares during the period. Finally, Squarepoint Ops LLC acquired a new stake in Radware during the 1st quarter valued at approximately $251,000. Institutional investors and hedge funds own 71.51% of the company’s stock.
Several brokerages have commented on RDWR. Needham & Company LLC began coverage on shares of Radware in a research note on Wednesday. They set a “hold” rating for the company. Oppenheimer reiterated a “buy” rating and issued a $27.00 target price on shares of Radware in a research note on Wednesday, May 6th. BidaskClub upgraded shares of Radware from a “sell” rating to a “hold” rating in a research note on Wednesday, July 15th. Barclays decreased their target price on shares of Radware from $27.00 to $26.00 and set an “overweight” rating for the company in a research note on Thursday, May 7th. Finally, ValuEngine cut shares of Radware from a “buy” rating to a “hold” rating in a research note on Friday, May 1st. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $26.33.
Shares of NASDAQ RDWR opened at $25.55 on Friday. The firm has a market cap of $1.20 billion, a PE ratio of 70.97, a PEG ratio of 3.88 and a beta of 0.82. The firm has a fifty day moving average of $24.40 and a 200 day moving average of $23.42. Radware Ltd. has a one year low of $16.02 and a one year high of $26.99.
Radware (NASDAQ:RDWR) last issued its quarterly earnings results on Wednesday, July 29th. The information technology services provider reported $0.13 EPS for the quarter, topping the consensus estimate of $0.12 by $0.01. The company had revenue of $58.40 million during the quarter, compared to analyst estimates of $57.99 million. Radware had a net margin of 7.12% and a return on equity of 5.88%. The firm’s revenue was down 3.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.18 EPS. As a group, research analysts predict that Radware Ltd. will post 0.41 EPS for the current fiscal year.
Radware Company Profile
Radware Ltd. develops, manufactures, and markets cyber security and application delivery solutions for applications in physical, virtual, cloud, and software defined data centers worldwide. The company offers 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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