The Commonwealth of Pennsylvania Public School Employees Retirement System has decreased its holdings in CyberArk Software Ltd. by 5.1% during the second quarter of 2023. According to its latest filing with the Securities and Exchange Commission (SEC), the retirement fund now owns 7,566 shares of the cybersecurity firm’s stock, following the sale of 409 shares in the preceding quarter. As of this filing, the value of its stake in CyberArk Software was approximately $3.08 million.
Other institutional investors have also made notable adjustments to their positions in CyberArk. Opal Wealth Advisors LLC established a new stake in the company during the same quarter, valued at $30,000. NewSquare Capital LLC increased its holdings by 78.0%, now owning 73 shares worth $30,000 after acquiring an additional 32 shares. Harbour Investments Inc. expanded its stake by a remarkable 298.0% in the first quarter, bringing its total to 203 shares valued at $69,000. Furthermore, WPG Advisers LLC and CWM LLC also increased their investments in CyberArk, with holdings now valued at approximately $74,000 and $75,000, respectively.
Overall, hedge funds and institutional investors collectively own 91.84% of CyberArk’s stock, indicating strong institutional interest in the company.
CyberArk Stock Performance and Analyst Ratings
As of the latest trading session, CyberArk Software’s shares opened at $475.67. The company has a market capitalization of $24.01 billion and maintains a debt-to-equity ratio of 0.53. Its quick and current ratios are both reported at 2.31. Over the past year, CyberArk’s stock has seen a low of $288.63 and a high of $526.19, reflecting significant volatility.
Recent analyst evaluations highlight a cautious outlook for the company. Wolfe Research downgraded CyberArk from a “strong-buy” to a “hold” rating on August 1, while Rosenblatt Securities issued a similar downgrade, setting a target price of $445.00. Conversely, Barclays raised its price objective for the stock from $440.00 to $520.00, maintaining an “equal weight” rating. Canaccord Genuity Group also adjusted its stance, moving from a “buy” to a “hold” rating, with a revised target of $502.00.
Analytical consensus shows eight analysts rated the stock as a Buy, while twenty-two assigned a Hold rating, and two issued Sell ratings. According to MarketBeat.com, the average rating for CyberArk is currently “Hold,” with an average target price of $455.96.
About CyberArk Software
CyberArk Software Ltd. specializes in identity security solutions, providing a range of software products designed to protect organizations from cyber threats. The company operates in various regions, including the United States, Europe, the Middle East, and Africa. Its notable products include Privileged Access Manager, which focuses on credential security, and Vendor Privileged Access Manager, which secures access for third-party vendors.
As businesses increasingly prioritize cybersecurity, CyberArk’s offerings stand out in a competitive market, addressing the critical need for robust identity management solutions.
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