AMI Asset Management Corp Reduces Stock Position in CyberArk Software Ltd. (NASDAQ:CYBR)

AMI Asset Management Corp decreased its position in shares of CyberArk Software Ltd. (NASDAQ:CYBR) by 3.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,982 shares of the technology company’s stock after selling 234 shares during the quarter. AMI Asset Management Corp’s holdings in CyberArk Software were worth $1,993,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the company. Ensign Peak Advisors Inc acquired a new position in CyberArk Software during the second quarter worth $711,000. HighTower Advisors LLC increased its position in shares of CyberArk Software by 16.6% in the third quarter. HighTower Advisors LLC now owns 14,478 shares of the technology company’s stock valued at $4,212,000 after buying an additional 2,062 shares in the last quarter. Sycomore Asset Management raised its stake in shares of CyberArk Software by 36.6% during the 2nd quarter. Sycomore Asset Management now owns 60,781 shares of the technology company’s stock worth $15,973,000 after buying an additional 16,294 shares during the last quarter. Groupama Asset Managment boosted its position in shares of CyberArk Software by 0.5% in the 3rd quarter. Groupama Asset Managment now owns 1,042,767 shares of the technology company’s stock worth $304,000 after buying an additional 5,402 shares in the last quarter. Finally, Jennison Associates LLC grew its stake in CyberArk Software by 0.8% in the 3rd quarter. Jennison Associates LLC now owns 1,211,844 shares of the technology company’s stock valued at $353,386,000 after acquiring an additional 9,570 shares during the last quarter. Hedge funds and other institutional investors own 91.84% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. UBS Group increased their price target on shares of CyberArk Software from $340.00 to $360.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Piper Sandler increased their target price on CyberArk Software from $345.00 to $380.00 and gave the company an “overweight” rating in a report on Monday, January 6th. DA Davidson boosted their price target on CyberArk Software from $360.00 to $390.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. Truist Financial reaffirmed a “buy” rating and set a $350.00 price objective (up previously from $300.00) on shares of CyberArk Software in a research note on Thursday, November 14th. Finally, Wedbush lifted their price objective on CyberArk Software from $300.00 to $325.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 1st. One research analyst has rated the stock with a hold rating and twenty-seven have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $353.93.

CyberArk Software Stock Performance

CYBR opened at $352.22 on Tuesday. CyberArk Software Ltd. has a 1 year low of $223.09 and a 1 year high of $363.00. The firm has a 50 day moving average price of $325.25 and a 200 day moving average price of $293.63. The company has a market cap of $15.35 billion, a PE ratio of 1,304.57 and a beta of 1.13.

CyberArk Software (NASDAQ:CYBR) last posted its earnings results on Wednesday, November 13th. The technology company reported $0.94 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.48. CyberArk Software had a net margin of 1.38% and a return on equity of 2.29%. The business had revenue of $240.10 million for the quarter, compared to analyst estimates of $234.10 million. During the same quarter in the previous year, the business posted ($0.31) EPS. The business’s quarterly revenue was up 25.6% on a year-over-year basis. On average, sell-side analysts predict that CyberArk Software Ltd. will post -0.58 earnings per share for the current year.

CyberArk Software 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.