Neuberger Berman Group LLC Trims Stock Holdings in Radware Ltd. (NASDAQ:RDWR)

Neuberger Berman Group LLC reduced its stake in shares of Radware Ltd. (NASDAQ:RDWR) by 0.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,116,151 shares of the information technology services provider’s stock after selling 8,437 shares during the period. Neuberger Berman Group LLC owned 2.66% of Radware worth $25,161,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Renaissance Group LLC bought a new stake in Radware during the 4th quarter worth approximately $2,240,000. Legal & General Group Plc increased its stake in shares of Radware by 14.8% in the fourth quarter. Legal & General Group Plc now owns 2,235,702 shares of the information technology services provider’s stock worth $50,370,000 after purchasing an additional 287,913 shares in the last quarter. Invesco Ltd. raised its position in shares of Radware by 2.4% during the 4th quarter. Invesco Ltd. now owns 36,094 shares of the information technology services provider’s stock valued at $813,000 after purchasing an additional 855 shares during the period. Bank of Montreal Can lifted its stake in shares of Radware by 10.1% during the 4th quarter. Bank of Montreal Can now owns 11,007 shares of the information technology services provider’s stock valued at $248,000 after buying an additional 1,007 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its holdings in Radware by 301.8% in the 4th quarter. Russell Investments Group Ltd. now owns 17,380 shares of the information technology services provider’s stock worth $392,000 after buying an additional 13,055 shares during the period. 73.12% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Needham & Company LLC reissued a “hold” rating on shares of Radware in a report on Friday, February 14th. Jefferies Financial Group cut their target price on Radware from $26.00 to $24.00 and set a “hold” rating for the company in a research report on Monday, March 31st.

Radware Stock Performance

Shares of NASDAQ:RDWR opened at $19.70 on Friday. The firm has a market cap of $827.30 million, a price-to-earnings ratio of 140.72 and a beta of 0.98. The firm has a fifty day moving average price of $22.19 and a 200 day moving average price of $22.46. Radware Ltd. has a fifty-two week low of $16.12 and a fifty-two week high of $25.00.

Radware (NASDAQ:RDWR) last announced its quarterly earnings results on Wednesday, February 12th. The information technology services provider reported $0.11 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.12). Radware had a return on equity of 3.81% and a net margin of 2.20%. As a group, research analysts predict that Radware Ltd. will post 0.28 earnings per share for the current year.

About Radware

Radware Ltd., together with its subsidiaries, develops, manufactures, and markets cyber security and application delivery solutions for cloud, on-premises, and software defined data centers worldwide. The company operates in two segments, Radware’s Core Business and The Hawks’ Business. It offers DefensePro provides automated DDoS protection; Radware Kubernetes, a web application firewall solution; and Cyber Controller, a unified solution for management, configuration, and attack lifecycle.