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

Jennison Associates LLC increased its stake in CyberArk Software Ltd. (NASDAQ:CYBR) by 0.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,211,844 shares of the technology company’s stock after acquiring an additional 9,570 shares during the period. Jennison Associates LLC’s holdings in CyberArk Software were worth $353,386,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Pathstone Holdings LLC raised its stake in shares of CyberArk Software by 3.0% in the third quarter. Pathstone Holdings LLC now owns 6,623 shares of the technology company’s stock valued at $1,931,000 after acquiring an additional 193 shares in the last quarter. MAI Capital Management raised its stake in CyberArk Software by 21.4% in the third quarter. MAI Capital Management now owns 2,699 shares of the technology company’s stock valued at $787,000 after buying an additional 475 shares in the last quarter. Swiss National Bank raised its stake in CyberArk Software by 2.5% in the third quarter. Swiss National Bank now owns 128,700 shares of the technology company’s stock valued at $37,530,000 after buying an additional 3,100 shares in the last quarter. Thrivent Financial for Lutherans raised its stake in CyberArk Software by 2.1% in the third quarter. Thrivent Financial for Lutherans now owns 101,926 shares of the technology company’s stock valued at $29,723,000 after buying an additional 2,059 shares in the last quarter. Finally, Natixis Advisors LLC raised its stake in CyberArk Software by 2.3% in the third quarter. Natixis Advisors LLC now owns 61,153 shares of the technology company’s stock valued at $17,833,000 after buying an additional 1,388 shares in the last quarter. 91.84% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. UBS Group lifted their target price on CyberArk Software from $340.00 to $360.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Susquehanna lifted their target price on CyberArk Software from $320.00 to $345.00 and gave the stock a “positive” rating in a research report on Thursday, November 14th. Stifel Nicolaus raised their price target on CyberArk Software from $306.00 to $335.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Canaccord Genuity Group raised their price target on CyberArk Software from $310.00 to $330.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $335.00 price target on shares of CyberArk Software in a report on Thursday, November 14th. One analyst has rated the stock with a hold rating and twenty-six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $328.37.

CyberArk Software Stock Performance

Shares of CYBR opened at $315.00 on Wednesday. The stock has a fifty day moving average of $285.98 and a two-hundred day moving average of $268.00. The company has a market capitalization of $13.72 billion, a PE ratio of 1,166.71 and a beta of 1.13. CyberArk Software Ltd. has a fifty-two week low of $186.96 and a fifty-two week high of $318.16.

CyberArk Software (NASDAQ:CYBR) last issued its quarterly earnings results on Wednesday, November 13th. The technology company reported $0.94 earnings per share 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 the consensus estimate of $234.10 million. CyberArk Software had a return on equity of 2.29% and a net margin of 1.38%. CyberArk Software’s revenue was up 25.6% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.31) EPS. As a group, equities research analysts forecast that CyberArk Software Ltd. will post -0.99 earnings per share for the current fiscal 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.