Cynosure Group LLC Buys Shares of 1,348 CyberArk Software Ltd. (NASDAQ:CYBR)

Cynosure Group LLC bought a new position in CyberArk Software Ltd. (NASDAQ:CYBR) in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor bought 1,348 shares of the technology company’s stock, valued at approximately $393,000.

Several other large investors have also modified their holdings of the business. Jennison Associates LLC increased its holdings in CyberArk Software by 0.8% during the third quarter. Jennison Associates LLC now owns 1,211,844 shares of the technology company’s stock valued at $353,386,000 after buying an additional 9,570 shares during the period. RGM Capital LLC boosted its position in CyberArk Software by 2.1% during the 2nd quarter. RGM Capital LLC now owns 814,129 shares of the technology company’s stock valued at $222,599,000 after acquiring an additional 16,530 shares in the last quarter. Swedbank AB increased its holdings in shares of CyberArk Software by 11.1% in the 3rd quarter. Swedbank AB now owns 457,899 shares of the technology company’s stock valued at $133,528,000 after acquiring an additional 45,799 shares during the period. International Assets Investment Management LLC bought a new position in shares of CyberArk Software in the 3rd quarter worth $82,485,000. Finally, Clearbridge Investments LLC lifted its stake in shares of CyberArk Software by 250.0% during the 2nd quarter. Clearbridge Investments LLC now owns 224,381 shares of the technology company’s stock worth $61,350,000 after purchasing an additional 160,269 shares during the last quarter. Institutional investors own 91.84% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Royal Bank of Canada boosted their target price on shares of CyberArk Software from $328.00 to $358.00 and gave the stock an “outperform” rating in a report on Thursday, November 14th. Piper Sandler boosted their price objective on shares of CyberArk Software from $300.00 to $345.00 and gave the stock an “overweight” rating in a research note on Thursday, November 14th. BTIG Research raised their target price on shares of CyberArk Software from $310.00 to $325.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Barclays upped their price target on CyberArk Software from $330.00 to $335.00 and gave the stock an “overweight” rating in a research report on Thursday, November 14th. Finally, Truist Financial reissued a “buy” rating and issued a $350.00 price objective (up previously from $300.00) on shares of CyberArk Software in a research report on Thursday, November 14th. One research analyst has rated the stock with a hold rating and twenty-six have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $328.37.

CyberArk Software Stock Performance

CYBR stock opened at $318.78 on Thursday. CyberArk Software Ltd. has a one year low of $192.57 and a one year high of $332.05. The firm’s fifty day moving average is $293.31 and its 200 day moving average is $272.07. The firm has a market cap of $13.89 billion, a PE ratio of 1,180.71 and a beta of 1.13.

CyberArk Software (NASDAQ:CYBR) last announced its quarterly 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. The firm had revenue of $240.10 million during the quarter, compared to analyst estimates of $234.10 million. CyberArk Software had a return on equity of 2.29% and a net margin of 1.38%. CyberArk Software’s revenue for the quarter was up 25.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.31) EPS. Research analysts predict that CyberArk Software Ltd. will post -0.62 earnings per share for the current fiscal year.

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.