Retirement Systems of Alabama Purchases New Holdings in CyberArk Software Ltd. (NASDAQ:CYBR)

Retirement Systems of Alabama purchased a new stake in shares of CyberArk Software Ltd. (NASDAQ:CYBR) in the first quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 15,487 shares of the technology company’s stock, valued at approximately $5,235,000.

Other large investors also recently bought and sold shares of the company. TD Private Client Wealth LLC lifted its position in CyberArk Software by 79.1% during the 4th quarter. TD Private Client Wealth LLC now owns 77 shares of the technology company’s stock valued at $26,000 after acquiring an additional 34 shares during the period. Whipplewood Advisors LLC lifted its position in CyberArk Software by 135.3% during the 1st quarter. Whipplewood Advisors LLC now owns 80 shares of the technology company’s stock valued at $27,000 after acquiring an additional 46 shares during the period. Plato Investment Management Ltd purchased a new position in CyberArk Software during the 4th quarter valued at about $39,000. Graney & King LLC purchased a new position in CyberArk Software during the 4th quarter valued at about $43,000. Finally, Coppell Advisory Solutions LLC lifted its position in CyberArk Software by 325.7% during the 4th quarter. Coppell Advisory Solutions LLC now owns 149 shares of the technology company’s stock valued at $48,000 after acquiring an additional 114 shares during the period. 91.84% of the stock is owned by hedge funds and other institutional investors.

CyberArk Software Price Performance

Shares of CyberArk Software stock opened at $397.13 on Wednesday. CyberArk Software Ltd. has a 1-year low of $230.00 and a 1-year high of $421.00. The company’s fifty day simple moving average is $366.99 and its 200-day simple moving average is $355.14. The stock has a market capitalization of $19.63 billion, a PE ratio of -213.51 and a beta of 0.99.

CyberArk Software (NASDAQ:CYBR) last announced its earnings results on Tuesday, May 13th. The technology company reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.79 by $0.19. CyberArk Software had a positive return on equity of 0.71% and a negative net margin of 7.97%. The company had revenue of $317.60 million for the quarter, compared to analysts’ expectations of $305.57 million. During the same period last year, the firm earned $0.75 EPS. CyberArk Software’s revenue for the quarter was up 43.3% compared to the same quarter last year. As a group, research analysts anticipate that CyberArk Software Ltd. will post -0.47 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have issued reports on CYBR. Guggenheim reaffirmed a “buy” rating and issued a $455.00 target price on shares of CyberArk Software in a report on Tuesday, February 25th. KeyCorp decreased their target price on shares of CyberArk Software from $485.00 to $425.00 and set an “overweight” rating for the company in a report on Thursday, April 17th. Truist Financial decreased their target price on shares of CyberArk Software from $450.00 to $425.00 and set a “buy” rating for the company in a report on Monday, March 31st. Robert W. Baird lifted their target price on shares of CyberArk Software from $450.00 to $460.00 and gave the stock an “outperform” rating in a report on Wednesday, May 14th. Finally, DA Davidson lifted their target price on shares of CyberArk Software from $435.00 to $465.00 and gave the stock a “buy” rating in a report on Thursday, June 12th. Two equities research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $416.79.

About CyberArk Software

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.