Connors Investor Services Inc. Sells 827 Shares of CyberArk Software Ltd. (NASDAQ:CYBR)

Connors Investor Services Inc. lessened its stake in shares of CyberArk Software Ltd. (NASDAQ:CYBR) by 6.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,700 shares of the technology company’s stock after selling 827 shares during the period. Connors Investor Services Inc.’s holdings in CyberArk Software were worth $3,108,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. First Dallas Securities Inc. increased its position in shares of CyberArk Software by 3.2% in the first quarter. First Dallas Securities Inc. now owns 1,600 shares of the technology company’s stock worth $425,000 after purchasing an additional 50 shares during the period. Desjardins Global Asset Management Inc. grew its stake in CyberArk Software by 22.1% during the fourth quarter. Desjardins Global Asset Management Inc. now owns 282 shares of the technology company’s stock worth $62,000 after buying an additional 51 shares in the last quarter. Signaturefd LLC increased its holdings in CyberArk Software by 6.6% in the 4th quarter. Signaturefd LLC now owns 868 shares of the technology company’s stock valued at $190,000 after buying an additional 54 shares during the period. Wealth Alliance raised its position in shares of CyberArk Software by 2.6% in the 4th quarter. Wealth Alliance now owns 2,399 shares of the technology company’s stock valued at $526,000 after buying an additional 60 shares in the last quarter. Finally, Pacer Advisors Inc. lifted its holdings in shares of CyberArk Software by 14.9% during the 4th quarter. Pacer Advisors Inc. now owns 564 shares of the technology company’s stock worth $124,000 after acquiring an additional 73 shares during the period. 91.84% of the stock is owned by institutional investors and hedge funds.

CyberArk Software Stock Down 0.8 %

CYBR traded down $2.18 during trading on Friday, hitting $259.63. The company’s stock had a trading volume of 499,130 shares, compared to its average volume of 464,189. The firm has a market capitalization of $10.97 billion, a P/E ratio of -405.67 and a beta of 1.14. CyberArk Software Ltd. has a twelve month low of $142.92 and a twelve month high of $284.10. The stock’s fifty day moving average price is $253.69 and its 200-day moving average price is $249.58.

CyberArk Software (NASDAQ:CYBR) last released its earnings results on Thursday, May 2nd. The technology company reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.51) by $0.67. The company had revenue of $221.55 million for the quarter, compared to the consensus estimate of $213.42 million. CyberArk Software had a negative net margin of 3.20% and a negative return on equity of 2.51%. Equities research analysts expect that CyberArk Software Ltd. will post -1.24 EPS for the current fiscal year.

Analyst Ratings Changes

CYBR has been the subject of several research analyst reports. Cantor Fitzgerald restated an “overweight” rating and set a $300.00 price objective on shares of CyberArk Software in a research report on Friday, June 21st. Needham & Company LLC reiterated a “buy” rating and set a $310.00 price objective on shares of CyberArk Software in a research report on Monday, May 20th. Canaccord Genuity Group cut their target price on shares of CyberArk Software from $300.00 to $280.00 and set a “buy” rating on the stock in a research report on Tuesday, June 4th. Bank of America reiterated a “buy” rating and set a $315.00 price target on shares of CyberArk Software in a report on Wednesday, April 24th. Finally, Wedbush reissued an “outperform” rating and set a $285.00 price objective on shares of CyberArk Software in a report on Friday, May 3rd. Two equities research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $280.63.

CyberArk Software Company 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.