M&G Plc Makes New Investment in CyberArk Software Ltd. (NASDAQ:CYBR)

M&G Plc bought a new position in shares of CyberArk Software Ltd. (NASDAQ:CYBR) during the 3rd quarter, HoldingsChannel reports. The fund bought 35,197 shares of the technology company’s stock, valued at approximately $10,278,000.

Several other large investors also recently modified their holdings of the stock. Montag A & Associates Inc. bought a new stake in CyberArk Software during the first quarter worth about $27,000. Mather Group LLC. bought a new stake in shares of CyberArk Software during the 2nd quarter worth approximately $27,000. ORG Partners LLC acquired a new stake in shares of CyberArk Software during the 2nd quarter worth approximately $33,000. 1620 Investment Advisors Inc. bought a new position in CyberArk Software in the second quarter valued at approximately $39,000. Finally, Arcadia Investment Management Corp MI raised its position in CyberArk Software by 42.2% during the second quarter. Arcadia Investment Management Corp MI now owns 182 shares of the technology company’s stock valued at $50,000 after purchasing an additional 54 shares in the last quarter. 91.84% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CYBR. Needham & Company LLC reiterated a “buy” rating and issued a $310.00 price target on shares of CyberArk Software in a research note on Friday, August 9th. Citigroup lifted their target price on CyberArk Software from $305.00 to $310.00 and gave the company a “buy” rating in a research report on Friday, August 9th. DA Davidson increased their target price on shares of CyberArk Software from $285.00 to $315.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Oppenheimer lifted their price target on shares of CyberArk Software from $310.00 to $360.00 and gave the company an “outperform” rating in a report on Tuesday, October 22nd. Finally, Jefferies Financial Group increased their price objective on shares of CyberArk Software from $315.00 to $330.00 and gave the company a “buy” rating in a research note on Tuesday, September 24th. One research analyst has rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $311.44.

CyberArk Software Stock Performance

Shares of NASDAQ CYBR opened at $296.20 on Friday. The company’s 50 day moving average price is $282.60 and its 200-day moving average price is $264.74. CyberArk Software Ltd. has a 52-week low of $181.02 and a 52-week high of $308.63. The company has a market capitalization of $12.91 billion, a P/E ratio of -925.63 and a beta of 1.13.

CyberArk Software (NASDAQ:CYBR) last released its earnings results on Thursday, August 8th. The technology company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.14. CyberArk Software had a negative net margin of 1.53% and a negative return on equity of 0.21%. The business had revenue of $224.71 million for the quarter, compared to analyst estimates of $219.06 million. During the same quarter in the previous year, the business earned ($0.58) earnings per share. CyberArk Software’s revenue for the quarter was up 27.8% on a year-over-year basis. Analysts forecast that CyberArk Software Ltd. will post -1.05 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.