Sherman Asset Management Inc. Takes Position in CyberArk Software Ltd. (NASDAQ:CYBR)

Sherman Asset Management Inc. acquired a new stake in CyberArk Software Ltd. (NASDAQ:CYBR) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 847 shares of the technology company’s stock, valued at approximately $282,000.

A number of other institutional investors have also recently made changes to their positions in CYBR. Nepsis Inc. boosted its stake in CyberArk Software by 882.4% during the fourth quarter. Nepsis Inc. now owns 562,327 shares of the technology company’s stock worth $187,339,000 after buying an additional 505,088 shares during the last quarter. Jennison Associates LLC raised its position in CyberArk Software by 32.3% in the fourth quarter. Jennison Associates LLC now owns 1,603,744 shares of the technology company’s stock valued at $534,287,000 after purchasing an additional 391,900 shares during the period. Allspring Global Investments Holdings LLC raised its position in CyberArk Software by 195.7% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 508,355 shares of the technology company’s stock valued at $170,614,000 after purchasing an additional 336,462 shares during the period. Swedbank AB raised its holdings in shares of CyberArk Software by 19.0% in the 4th quarter. Swedbank AB now owns 545,100 shares of the technology company’s stock valued at $181,600,000 after buying an additional 87,201 shares during the period. Finally, SG Americas Securities LLC raised its holdings in shares of CyberArk Software by 97.5% in the 4th quarter. SG Americas Securities LLC now owns 167,759 shares of the technology company’s stock valued at $55,889,000 after buying an additional 82,812 shares during the period. 91.84% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on CYBR shares. Guggenheim reiterated a “buy” rating and issued a $455.00 price objective on shares of CyberArk Software in a report on Tuesday, February 25th. UBS Group upped their price objective on CyberArk Software from $340.00 to $360.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Needham & Company LLC reissued a “buy” rating and issued a $480.00 target price on shares of CyberArk Software in a research report on Wednesday. JMP Securities upped their target price on CyberArk Software from $390.00 to $480.00 and gave the company a “market outperform” rating in a research report on Friday, February 14th. Finally, Truist Financial increased their price objective on CyberArk Software from $385.00 to $450.00 and gave the stock a “buy” rating in a research report on Friday, February 14th. Two research analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $416.67.

CyberArk Software Stock Up 3.4 %

NASDAQ CYBR opened at $363.85 on Friday. CyberArk Software Ltd. has a fifty-two week low of $223.41 and a fifty-two week high of $421.00. The stock has a market cap of $15.85 billion, a price-to-earnings ratio of -186.59 and a beta of 1.15. The business has a fifty day moving average of $361.40 and a 200-day moving average of $317.08.

CyberArk Software (NASDAQ:CYBR) last released its quarterly earnings results on Thursday, February 13th. The technology company reported ($0.14) earnings per share for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.85). CyberArk Software had a positive return on equity of 0.45% and a negative net margin of 9.34%. As a group, analysts anticipate that CyberArk Software Ltd. will post -0.47 EPS for the current year.

About CyberArk Software

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.