Bangor Savings Bank Reduces Holdings in CyberArk Software Ltd. (NASDAQ:CYBR)

Bangor Savings Bank decreased its position in shares of CyberArk Software Ltd. (NASDAQ:CYBR) by 22.4% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 360 shares of the technology company’s stock after selling 104 shares during the period. Bangor Savings Bank’s holdings in CyberArk Software were worth $105,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in CYBR. Geneos Wealth Management Inc. grew its holdings in CyberArk Software by 64.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 7,345 shares of the technology company’s stock valued at $1,951,000 after purchasing an additional 2,885 shares during the last quarter. Congress Asset Management Co. MA grew its stake in shares of CyberArk Software by 29.3% during the first quarter. Congress Asset Management Co. MA now owns 50,097 shares of the technology company’s stock valued at $13,307,000 after buying an additional 11,345 shares during the last quarter. Contour Asset Management LLC purchased a new stake in shares of CyberArk Software in the fourth quarter worth approximately $48,605,000. Russell Investments Group Ltd. raised its holdings in shares of CyberArk Software by 58.3% in the first quarter. Russell Investments Group Ltd. now owns 33,255 shares of the technology company’s stock worth $8,830,000 after buying an additional 12,242 shares during the period. Finally, Quadrature Capital Ltd bought a new stake in shares of CyberArk Software during the 1st quarter worth approximately $2,741,000. Hedge funds and other institutional investors own 91.84% of the company’s stock.

CyberArk Software Stock Up 2.3 %

NASDAQ:CYBR opened at $282.41 on Wednesday. The stock has a market capitalization of $11.93 billion, a price-to-earnings ratio of -441.27 and a beta of 1.12. CyberArk Software Ltd. has a 52 week low of $152.03 and a 52 week high of $294.89. The firm has a 50 day moving average of $273.58 and a 200 day moving average of $259.37.

CyberArk Software (NASDAQ:CYBR) last issued its quarterly earnings data on Thursday, August 8th. The technology company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.40 by $0.14. The firm had revenue of $224.71 million during the quarter, compared to analyst estimates of $219.06 million. CyberArk Software had a negative return on equity of 0.21% and a negative net margin of 1.53%. The business’s revenue for the quarter was up 27.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.58) EPS. As a group, analysts expect that CyberArk Software Ltd. will post -1.06 EPS for the current year.

Analyst Ratings Changes

A number of research firms have weighed in on CYBR. Wedbush increased their target price on CyberArk Software from $300.00 to $325.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 1st. Needham & Company LLC reaffirmed a “buy” rating and issued a $310.00 price target on shares of CyberArk Software in a research note on Friday, August 9th. JMP Securities reissued a “market outperform” rating and issued a $310.00 price objective on shares of CyberArk Software in a research report on Monday, June 17th. DA Davidson raised their target price on shares of CyberArk Software from $285.00 to $315.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Finally, Royal Bank of Canada assumed coverage on shares of CyberArk Software in a research note on Friday, September 20th. They set an “outperform” rating and a $328.00 price target for the company. One research analyst has rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $297.52.

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.