Lazard Asset Management LLC Decreases Stake in CyberArk Software Ltd. (NASDAQ:CYBR)

Lazard Asset Management LLC lessened its stake in CyberArk Software Ltd. (NASDAQ:CYBR) by 51.1% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 39,926 shares of the technology company’s stock after selling 41,743 shares during the quarter. Lazard Asset Management LLC’s holdings in CyberArk Software were worth $10,605,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Montag A & Associates Inc. purchased a new stake in CyberArk Software during the first quarter worth approximately $27,000. Arcadia Investment Management Corp MI acquired a new position in CyberArk Software in the first quarter valued at approximately $34,000. Blue Bell Private Wealth Management LLC acquired a new position in CyberArk Software in the first quarter valued at approximately $34,000. FinTrust Capital Advisors LLC acquired a new position in CyberArk Software in the fourth quarter valued at approximately $34,000. Finally, Central Bank & Trust Co. acquired a new position in CyberArk Software in the first quarter valued at approximately $53,000. Hedge funds and other institutional investors own 91.84% of the company’s stock.

CyberArk Software Price Performance

CyberArk Software stock traded up $0.82 during trading hours on Friday, hitting $257.68. The stock had a trading volume of 222,606 shares, compared to its average volume of 417,278. The stock has a market capitalization of $10.89 billion, a price-to-earnings ratio of -402.63 and a beta of 1.14. CyberArk Software Ltd. has a 1-year low of $142.92 and a 1-year high of $284.10. The stock’s fifty day moving average is $255.56 and its two-hundred day moving average is $250.91.

CyberArk Software (NASDAQ:CYBR) last posted its earnings results on Thursday, May 2nd. The technology company reported $0.16 earnings per share for the quarter, beating the consensus estimate of ($0.51) by $0.67. The company had revenue of $221.55 million for the quarter, compared to analyst estimates of $213.42 million. CyberArk Software had a negative return on equity of 2.51% and a negative net margin of 3.20%. As a group, sell-side analysts anticipate that CyberArk Software Ltd. will post -1.24 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on CYBR shares. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $300.00 price target on shares of CyberArk Software in a report on Monday, July 22nd. Wedbush reaffirmed an “outperform” rating and issued a $285.00 price target on shares of CyberArk Software in a report on Friday, May 3rd. Canaccord Genuity Group reduced their price objective on CyberArk Software from $300.00 to $280.00 and set a “buy” rating for the company in a research note on Tuesday, June 4th. Needham & Company LLC reiterated a “buy” rating and issued a $310.00 price objective on shares of CyberArk Software in a research note on Monday, May 20th. Finally, DA Davidson boosted their price objective on CyberArk Software from $275.00 to $285.00 and gave the company a “buy” rating in a research note on Wednesday, May 22nd. Two research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company. According to MarketBeat.com, CyberArk Software presently has an average rating of “Moderate Buy” and a consensus target price of $280.63.

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.