Jennison Associates LLC Raises Holdings in CyberArk Software Ltd. (NASDAQ:CYBR)

Jennison Associates LLC lifted its position in shares of CyberArk Software Ltd. (NASDAQ:CYBR) by 32.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,603,744 shares of the technology company’s stock after purchasing an additional 391,900 shares during the period. Jennison Associates LLC owned about 3.68% of CyberArk Software worth $534,287,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in CYBR. HighTower Advisors LLC increased its holdings in shares of CyberArk Software by 16.6% in the third quarter. HighTower Advisors LLC now owns 14,478 shares of the technology company’s stock valued at $4,212,000 after purchasing an additional 2,062 shares during the period. Groupama Asset Managment raised its position in CyberArk Software by 0.5% during the 3rd quarter. Groupama Asset Managment now owns 1,042,767 shares of the technology company’s stock worth $304,000 after buying an additional 5,402 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new stake in shares of CyberArk Software in the third quarter valued at about $8,612,000. International Assets Investment Management LLC acquired a new position in shares of CyberArk Software during the third quarter worth about $82,485,000. Finally, CHURCHILL MANAGEMENT Corp purchased a new position in CyberArk Software during the fourth quarter worth about $764,000. 91.84% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have commented on CYBR shares. Rosenblatt Securities raised their target price on CyberArk Software from $345.00 to $415.00 and gave the company a “buy” rating in a report on Thursday. UBS Group raised their price objective on shares of CyberArk Software from $340.00 to $360.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Barclays upped their target price on shares of CyberArk Software from $330.00 to $335.00 and gave the stock an “overweight” rating in a research report on Thursday, November 14th. Susquehanna lifted their price target on shares of CyberArk Software from $320.00 to $345.00 and gave the company a “positive” rating in a research report on Thursday, November 14th. Finally, Oppenheimer boosted their price target on CyberArk Software from $310.00 to $360.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 22nd. One investment analyst has rated the stock with a hold rating and twenty-seven have issued a buy rating to the company. Based on data from MarketBeat, CyberArk Software presently has an average rating of “Moderate Buy” and a consensus price target of $367.44.

CyberArk Software Stock Performance

CyberArk Software stock opened at $370.98 on Monday. CyberArk Software Ltd. has a 1 year low of $223.09 and a 1 year high of $378.62. The firm’s 50-day moving average is $335.12 and its 200-day moving average is $299.49. The company has a market cap of $16.16 billion, a P/E ratio of 1,374.05 and a beta of 1.15.

CyberArk Software (NASDAQ:CYBR) last posted its earnings results on Wednesday, November 13th. The technology company reported $0.94 EPS for the quarter, beating the consensus estimate of $0.46 by $0.48. The company 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%. The business’s revenue was up 25.6% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.31) earnings per share. As a group, sell-side analysts predict that CyberArk Software Ltd. will post -0.58 earnings per share for the current year.

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.