20,898 Shares in Radware Ltd. $RDWR Acquired by Hennion & Walsh Asset Management Inc.

Hennion & Walsh Asset Management Inc. bought a new stake in Radware Ltd. (NASDAQ:RDWR) in the fourth quarter, HoldingsChannel reports. The fund bought 20,898 shares of the information technology services provider’s stock, valued at approximately $503,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Artisan Partners Limited Partnership raised its stake in Radware by 16.0% during the third quarter. Artisan Partners Limited Partnership now owns 3,130,252 shares of the information technology services provider’s stock worth $82,920,000 after purchasing an additional 431,572 shares during the period. Man Group plc grew its stake in shares of Radware by 59.5% during the 3rd quarter. Man Group plc now owns 432,056 shares of the information technology services provider’s stock valued at $11,445,000 after buying an additional 161,159 shares during the period. Qube Research & Technologies Ltd increased its holdings in shares of Radware by 95.9% during the 3rd quarter. Qube Research & Technologies Ltd now owns 253,044 shares of the information technology services provider’s stock worth $6,703,000 after buying an additional 123,854 shares during the last quarter. Bank of America Corp DE raised its position in shares of Radware by 41.5% in the 3rd quarter. Bank of America Corp DE now owns 259,389 shares of the information technology services provider’s stock worth $6,871,000 after buying an additional 76,111 shares during the period. Finally, Millennium Management LLC raised its position in shares of Radware by 29.9% in the 3rd quarter. Millennium Management LLC now owns 295,353 shares of the information technology services provider’s stock worth $7,824,000 after buying an additional 67,936 shares during the period. Institutional investors and hedge funds own 73.12% of the company’s stock.

Radware Stock Performance

Shares of NASDAQ RDWR opened at $27.20 on Friday. The stock has a fifty day moving average price of $25.26 and a 200 day moving average price of $24.85. Radware Ltd. has a 12-month low of $18.46 and a 12-month high of $31.57. The company has a market cap of $1.17 billion, a P/E ratio of 60.45 and a beta of 0.87.

Radware (NASDAQ:RDWR) last issued its quarterly earnings data on Wednesday, February 11th. The information technology services provider reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.02. Radware had a return on equity of 7.21% and a net margin of 6.71%.The company had revenue of $80.25 million for the quarter, compared to analysts’ expectations of $78.65 million. During the same quarter in the previous year, the firm posted $0.27 earnings per share. The firm’s quarterly revenue was up 9.9% on a year-over-year basis. On average, sell-side analysts forecast that Radware Ltd. will post 0.28 EPS for the current fiscal year.

Radware declared that its board has authorized a share buyback program on Friday, February 13th that authorizes the company to repurchase $80.00 million in shares. This repurchase authorization authorizes the information technology services provider to reacquire up to 7.1% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Jefferies Financial Group set a $25.00 price target on Radware in a research report on Tuesday, December 16th. Weiss Ratings reissued a “sell (d+)” rating on shares of Radware in a research report on Friday, March 27th. Finally, Wall Street Zen upgraded shares of Radware from a “hold” rating to a “buy” rating in a report on Saturday. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $30.00.

Radware Company Profile

Radware Ltd. provides cybersecurity and application delivery solutions designed to ensure the availability, performance and security of mission‐critical applications. Its product portfolio includes on‐premises and cloud‐based offerings such as Alteon application delivery controllers, DefensePro network behavior analysis for DDoS mitigation and AppWall web application firewall. The company’s platforms use real‐time behavioral analysis, machine learning and automation to protect against distributed denial‐of‐service attacks, application layer threats and network intrusions.

Founded in 1997, Radware is co-headquartered in Tel Aviv, Israel, with a principal U.S.