Kornitzer Capital Management Inc. KS Cuts Position in CyberArk Software Ltd. (NASDAQ:CYBR)

Kornitzer Capital Management Inc. KS lowered its stake in shares of CyberArk Software Ltd. (NASDAQ:CYBR) by 3.8% during the third quarter, Holdings Channel reports. The institutional investor owned 45,300 shares of the technology company’s stock after selling 1,800 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in CyberArk Software were worth $13,210,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CYBR. Montag A & Associates Inc. purchased a new stake in CyberArk Software during the first quarter worth $27,000. Mather Group LLC. acquired a new position in CyberArk Software during the second quarter worth about $27,000. ORG Partners LLC acquired a new stake in shares of CyberArk Software in the second quarter valued at approximately $33,000. 1620 Investment Advisors Inc. purchased a new position in shares of CyberArk Software during the 2nd quarter worth approximately $39,000. Finally, Arcadia Investment Management Corp MI grew its holdings in CyberArk Software by 42.2% during the 2nd quarter. Arcadia Investment Management Corp MI now owns 182 shares of the technology company’s stock valued at $50,000 after buying an additional 54 shares during the last quarter. 91.84% of the stock is currently owned by institutional investors and hedge funds.

CyberArk Software Price Performance

Shares of CyberArk Software stock traded up $2.79 during trading on Thursday, hitting $297.24. 22,799 shares of the company’s stock traded hands, compared to its average volume of 514,063. CyberArk Software Ltd. has a twelve month low of $181.02 and a twelve month high of $308.63. The firm’s fifty day moving average price is $282.40 and its 200 day moving average price is $264.53.

CyberArk Software (NASDAQ:CYBR) last issued its earnings results on Thursday, August 8th. The technology company reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.14. CyberArk Software had a negative return on equity of 0.21% and a negative net margin of 1.53%. The firm had revenue of $224.71 million for the quarter, compared to analysts’ expectations of $219.06 million. During the same quarter last year, the business earned ($0.58) earnings per share. The company’s revenue was up 27.8% compared to the same quarter last year. As a group, research analysts expect that CyberArk Software Ltd. will post -1.05 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Barclays boosted their price target on CyberArk Software from $315.00 to $330.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. Oppenheimer raised their price target on shares of CyberArk Software from $310.00 to $360.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 22nd. BTIG Research lifted their price target on shares of CyberArk Software from $310.00 to $325.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Jefferies Financial Group upped their price objective on shares of CyberArk Software from $315.00 to $330.00 and gave the company a “buy” rating in a research note on Tuesday, September 24th. Finally, Citigroup raised their price objective on CyberArk Software from $305.00 to $310.00 and gave the stock a “buy” rating in a report on Friday, August 9th. One research analyst has rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. Based on data from MarketBeat, CyberArk Software presently has an average rating of “Moderate Buy” and a consensus price target of $311.44.

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.