Brown Capital Management LLC Sells 15,678 Shares of CyberArk Software Ltd. (NASDAQ:CYBR)

Brown Capital Management LLC decreased its stake in CyberArk Software Ltd. (NASDAQ:CYBR) by 2.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 699,628 shares of the technology company’s stock after selling 15,678 shares during the period. CyberArk Software makes up 4.4% of Brown Capital Management LLC’s portfolio, making the stock its 5th biggest position. Brown Capital Management LLC owned 1.61% of CyberArk Software worth $204,019,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also modified their holdings of the company. Mather Group LLC. purchased a new stake in CyberArk Software during the 2nd quarter worth $27,000. ORG Partners LLC purchased a new stake in shares of CyberArk Software during the second quarter worth about $33,000. 1620 Investment Advisors Inc. acquired a new position in shares of CyberArk Software in the second quarter worth about $39,000. Assetmark Inc. boosted its holdings in CyberArk Software by 1,025.0% in the third quarter. Assetmark Inc. now owns 135 shares of the technology company’s stock valued at $39,000 after purchasing an additional 123 shares during the last quarter. Finally, Arcadia Investment Management Corp MI boosted its holdings in CyberArk Software by 42.2% in the second quarter. Arcadia Investment Management Corp MI now owns 182 shares of the technology company’s stock valued at $50,000 after purchasing an additional 54 shares during the last quarter. Institutional investors and hedge funds own 91.84% of the company’s stock.

CyberArk Software Price Performance

CYBR opened at $316.90 on Thursday. The business has a 50 day moving average price of $288.08 and a two-hundred day moving average price of $268.96. The company has a market capitalization of $13.81 billion, a price-to-earnings ratio of 1,173.75 and a beta of 1.13. CyberArk Software Ltd. has a 1-year low of $186.96 and a 1-year high of $318.64.

CyberArk Software (NASDAQ:CYBR) last issued its quarterly earnings results on Wednesday, November 13th. The technology company reported $0.94 EPS for the quarter, topping the consensus estimate of $0.46 by $0.48. CyberArk Software had a net margin of 1.38% and a return on equity of 2.29%. The firm had revenue of $240.10 million for the quarter, compared to analysts’ expectations of $234.10 million. During the same period in the previous year, the business earned ($0.31) earnings per share. CyberArk Software’s revenue for the quarter was up 25.6% compared to the same quarter last year. Equities analysts expect that CyberArk Software Ltd. will post -0.95 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Piper Sandler raised their price target on shares of CyberArk Software from $300.00 to $345.00 and gave the stock an “overweight” rating in a research report on Thursday, November 14th. BTIG Research raised their price objective 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. Wells Fargo & Company boosted their target price on shares of CyberArk Software from $300.00 to $350.00 and gave the stock an “overweight” rating in a research report on Thursday, November 14th. Truist Financial reaffirmed a “buy” rating and set a $350.00 price target (up previously from $300.00) on shares of CyberArk Software in a research report on Thursday, November 14th. Finally, JMP Securities boosted their price objective on CyberArk Software from $310.00 to $360.00 and gave the company a “market outperform” rating in a report on Thursday, November 14th. One investment analyst has rated the stock with a hold rating and twenty-six have given a buy rating to the company. Based on data from MarketBeat, CyberArk Software presently has an average rating of “Moderate Buy” and a consensus price target of $328.37.

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.