US Bancorp DE Boosts Position in Radware Ltd. (RDWR)
US Bancorp DE increased its stake in shares of Radware Ltd. (NASDAQ:RDWR) by 5.0% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 16,535 shares of the information technology services provider’s stock after buying an additional 784 shares during the period. US Bancorp DE’s holdings in Radware were worth $290,000 as of its most recent filing with the SEC.
A number of other large investors also recently bought and sold shares of RDWR. Hood River Capital Management LLC bought a new stake in Radware during the first quarter valued at $6,951,000. HighVista Strategies LLC bought a new stake in Radware during the first quarter valued at $3,660,000. Clal Insurance Enterprises Holdings Ltd bought a new stake in Radware during the first quarter valued at $3,162,000. Renaissance Technologies LLC boosted its stake in Radware by 66.2% in the first quarter. Renaissance Technologies LLC now owns 480,897 shares of the information technology services provider’s stock valued at $7,771,000 after buying an additional 191,597 shares during the last quarter. Finally, Wellington Management Group LLP boosted its stake in Radware by 130.8% in the first quarter. Wellington Management Group LLP now owns 331,979 shares of the information technology services provider’s stock valued at $5,365,000 after buying an additional 188,139 shares during the last quarter. Hedge funds and other institutional investors own 59.60% of the company’s stock.
Shares of Radware Ltd. (RDWR) traded down 0.0144% on Tuesday, reaching $17.2975. 180,685 shares of the company’s stock were exchanged. The stock’s market cap is $757.99 million. The company’s 50 day moving average price is $17.63 and its 200-day moving average price is $16.80. Radware Ltd. has a 52-week low of $11.46 and a 52-week high of $18.33.
Radware (NASDAQ:RDWR) last released its earnings results on Wednesday, August 2nd. The information technology services provider reported $0.03 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.03) by $0.06. Radware had a negative return on equity of 2.14% and a negative net margin of 6.41%. The firm had revenue of $50.96 million during the quarter, compared to analysts’ expectations of $50.19 million. During the same quarter last year, the business posted $0.06 earnings per share. The firm’s revenue was up 2.8% on a year-over-year basis. Equities analysts forecast that Radware Ltd. will post $0.14 EPS for the current fiscal year.
Radware announced that its board has initiated a stock repurchase program on Tuesday, April 25th that allows the company to buyback $40.00 million in shares. This buyback authorization allows the information technology services provider to reacquire shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.
Several brokerages have recently commented on RDWR. Dougherty & Co upgraded shares of Radware from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $16.50 to $18.50 in a research report on Tuesday, April 25th. Jefferies Group LLC lifted their price target on shares of Radware from $18.50 to $20.00 and gave the stock a “buy” rating in a research report on Friday, April 28th. Zacks Investment Research cut shares of Radware from a “hold” rating to a “sell” rating in a research report on Tuesday, August 8th. Needham & Company LLC lifted their price target on shares of Radware from $18.00 to $19.00 and gave the stock a “buy” rating in a research report on Wednesday, April 26th. Finally, Oppenheimer Holdings, Inc. set a $17.00 price target on shares of Radware and gave the stock a “buy” rating in a research report on Tuesday, April 25th. One analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $18.44.
Radware Company Profile
Radware Ltd. is a provider of cyber security and application delivery solutions. The Company’s solutions incorporate Distributed Denial of Service protection, Web application firewall (WAF) and Application Delivery Controllers (ADC) technologies to enable its customers to provide cyber-attack mitigation solutions for a range of applications.
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