Lazard Asset Management LLC Reduces Stock Position in CyberArk Software Ltd. (NASDAQ:CYBR)

Lazard Asset Management LLC lowered its position in shares of CyberArk Software Ltd. (NASDAQ:CYBR) by 51.1% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 39,926 shares of the technology company’s stock after selling 41,743 shares during the period. Lazard Asset Management LLC owned about 0.09% of CyberArk Software worth $10,605,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Montag A & Associates Inc. bought a new position in CyberArk Software in the 1st quarter worth $27,000. Arcadia Investment Management Corp MI bought a new position in CyberArk Software in the 1st quarter worth $34,000. Blue Bell Private Wealth Management LLC bought a new position in CyberArk Software in the 1st quarter worth $34,000. FinTrust Capital Advisors LLC bought a new position in CyberArk Software in the 4th quarter worth $34,000. Finally, Central Bank & Trust Co. bought a new position in CyberArk Software in the 1st quarter worth $53,000. Hedge funds and other institutional investors own 91.84% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Cantor Fitzgerald reiterated an “overweight” rating and issued a $300.00 price target on shares of CyberArk Software in a research note on Monday, July 22nd. Rosenblatt Securities reiterated a “buy” rating and issued a $310.00 price target on shares of CyberArk Software in a research note on Wednesday, May 1st. Wedbush reiterated an “outperform” rating and issued a $285.00 price target on shares of CyberArk Software in a research note on Friday, May 3rd. Canaccord Genuity Group decreased their price target on shares of CyberArk Software from $300.00 to $280.00 and set a “buy” rating for the company in a research note on Tuesday, June 4th. Finally, DA Davidson increased their price target on shares of CyberArk Software from $275.00 to $285.00 and gave the stock a “buy” rating in a research note on Wednesday, May 22nd. Two analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $280.63.

CyberArk Software Stock Performance

Shares of CyberArk Software stock traded up $0.82 on Friday, hitting $257.68. 222,606 shares of the company traded hands, compared to its average volume of 417,278. The stock has a market capitalization of $10.89 billion, a P/E ratio of -402.63 and a beta of 1.14. CyberArk Software Ltd. has a 52 week low of $142.92 and a 52 week high of $284.10. The business has a 50-day simple moving average of $255.56 and a 200 day simple moving average of $250.91.

CyberArk Software (NASDAQ:CYBR) last released its quarterly earnings data on Thursday, May 2nd. The technology company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.51) by $0.67. CyberArk Software had a negative net margin of 3.20% and a negative return on equity of 2.51%. The firm had revenue of $221.55 million for the quarter, compared to analysts’ expectations of $213.42 million. Research analysts expect that CyberArk Software Ltd. will post -1.24 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.