Connor Clark & Lunn Investment Management Ltd. Buys 360,710 Shares of Radware Ltd. (NASDAQ:RDWR)

Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Radware Ltd. (NASDAQ:RDWR) by 159.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 587,570 shares of the information technology services provider’s stock after buying an additional 360,710 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned 1.40% of Radware worth $13,091,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in RDWR. nVerses Capital LLC acquired a new stake in shares of Radware during the third quarter worth $51,000. BNP Paribas Financial Markets lifted its position in shares of Radware by 239.5% during the 1st quarter. BNP Paribas Financial Markets now owns 6,434 shares of the information technology services provider’s stock valued at $120,000 after acquiring an additional 4,539 shares during the period. Point72 Asset Management L.P. acquired a new stake in shares of Radware during the 2nd quarter worth approximately $120,000. Van ECK Associates Corp grew its position in Radware by 16.4% in the second quarter. Van ECK Associates Corp now owns 9,164 shares of the information technology services provider’s stock valued at $167,000 after acquiring an additional 1,291 shares during the last quarter. Finally, Point72 DIFC Ltd bought a new position in shares of Radware in the 2nd quarter valued at $169,000. Institutional investors own 73.12% of the company’s stock.

Analysts Set New Price Targets

RDWR has been the subject of several recent analyst reports. Barclays increased their price objective on shares of Radware from $23.00 to $30.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. StockNews.com raised shares of Radware from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, August 21st. Finally, Needham & Company LLC upgraded shares of Radware to a “hold” rating in a research note on Friday, November 1st.

Radware Price Performance

RDWR stock opened at $23.18 on Friday. The company has a market cap of $973.44 million, a P/E ratio of -386.33 and a beta of 0.97. The firm has a 50-day moving average of $22.37 and a 200 day moving average of $20.65. Radware Ltd. has a 1 year low of $14.94 and a 1 year high of $24.34.

About Radware

Radware Ltd., together with its subsidiaries, develops, manufactures, and markets cyber security and application delivery solutions for cloud, on-premises, and software defined data centers worldwide. The company operates in two segments, Radware’s Core Business and The Hawks’ Business. It offers DefensePro provides automated DDoS protection; Radware Kubernetes, a web application firewall solution; and Cyber Controller, a unified solution for management, configuration, and attack lifecycle.