First Trust Direct Indexing L.P. Invests $383,000 in CyberArk Software Ltd. (NASDAQ:CYBR)

First Trust Direct Indexing L.P. purchased a new position in CyberArk Software Ltd. (NASDAQ:CYBR) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 1,312 shares of the technology company’s stock, valued at approximately $383,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Mather Group LLC. purchased a new position in shares of CyberArk Software in the 2nd quarter worth $27,000. Montag A & Associates Inc. purchased a new position in shares of CyberArk Software in the 1st quarter worth $27,000. ORG Partners LLC purchased a new position in shares of CyberArk Software in the 2nd quarter worth $33,000. 1620 Investment Advisors Inc. purchased a new position in shares of CyberArk Software in the 2nd quarter worth $39,000. Finally, Arcadia Investment Management Corp MI boosted its stake in shares of CyberArk Software by 42.2% in the 2nd quarter. Arcadia Investment Management Corp MI now owns 182 shares of the technology company’s stock worth $50,000 after buying an additional 54 shares during the last quarter. 91.84% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on CYBR shares. Royal Bank of Canada started coverage on CyberArk Software in a report on Friday, September 20th. They issued an “outperform” rating and a $328.00 target price on the stock. Citigroup raised their target price on CyberArk Software from $305.00 to $310.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Scotiabank started coverage on CyberArk Software in a report on Monday, October 21st. They issued a “sector outperform” rating and a $340.00 target price on the stock. Robert W. Baird raised their target price on CyberArk Software from $315.00 to $355.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Finally, KeyCorp raised their target price on CyberArk Software from $310.00 to $340.00 and gave the stock an “overweight” rating in a report on Friday, October 18th. One investment analyst has rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $311.44.

CyberArk Software Price Performance

Shares of NASDAQ CYBR opened at $276.16 on Monday. The business’s 50 day moving average is $282.28 and its two-hundred day moving average is $263.73. CyberArk Software Ltd. has a 1-year low of $167.13 and a 1-year high of $308.63. The stock has a market capitalization of $12.03 billion, a P/E ratio of -863.00 and a beta of 1.13.

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