Bank of America Corp DE cut its position in Check Point Software Technologies Ltd. (NASDAQ:CHKP - Free Report) by 26.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 460,684 shares of the technology company's stock after selling 162,077 shares during the quarter. Bank of America Corp DE owned approximately 0.42% of Check Point Software Technologies worth $86,010,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in CHKP. Nemes Rush Group LLC bought a new position in shares of Check Point Software Technologies during the 4th quarter worth about $25,000. GAMMA Investing LLC lifted its holdings in shares of Check Point Software Technologies by 53.1% during the 4th quarter. GAMMA Investing LLC now owns 173 shares of the technology company's stock worth $32,000 after acquiring an additional 60 shares during the period. Golden State Wealth Management LLC bought a new position in shares of Check Point Software Technologies during the 4th quarter worth about $35,000. Strategic Financial Concepts LLC bought a new position in shares of Check Point Software Technologies during the 4th quarter worth about $35,000. Finally, Quarry LP lifted its holdings in Check Point Software Technologies by 100.0% during the 4th quarter. Quarry LP now owns 206 shares of the technology company's stock valued at $38,000 after purchasing an additional 103 shares during the last quarter. 98.51% of the stock is owned by institutional investors.
Analyst Ratings Changes
Several equities analysts recently issued reports on the stock. Royal Bank of Canada reissued a "sector perform" rating and set a $215.00 price target on shares of Check Point Software Technologies in a report on Thursday, February 27th. JPMorgan Chase & Co. raised shares of Check Point Software Technologies from a "neutral" rating to an "overweight" rating and lifted their price target for the company from $221.00 to $255.00 in a report on Wednesday, February 26th. Stifel Nicolaus lifted their price target on shares of Check Point Software Technologies from $190.00 to $220.00 and gave the company a "hold" rating in a report on Friday, January 31st. Bank of America raised shares of Check Point Software Technologies from a "neutral" rating to a "buy" rating and lifted their price target for the company from $230.00 to $260.00 in a report on Thursday, March 27th. Finally, Arete Research raised shares of Check Point Software Technologies to a "hold" rating in a report on Monday, February 24th. Sixteen analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $232.04.
Get Our Latest Report on CHKP
Check Point Software Technologies Price Performance
Shares of Check Point Software Technologies stock traded up $1.61 on Thursday, hitting $216.10. The company had a trading volume of 678,181 shares, compared to its average volume of 779,695. The firm has a market capitalization of $23.77 billion, a P/E ratio of 28.93, a P/E/G ratio of 3.41 and a beta of 0.66. Check Point Software Technologies Ltd. has a twelve month low of $145.75 and a twelve month high of $234.36. The stock has a 50-day moving average of $219.67 and a 200-day moving average of $202.99.
Check Point Software Technologies (NASDAQ:CHKP - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The technology company reported $2.21 earnings per share for the quarter, beating the consensus estimate of $2.19 by $0.02. The company had revenue of $637.80 million during the quarter, compared to analysts' expectations of $635.80 million. Check Point Software Technologies had a net margin of 32.97% and a return on equity of 32.40%. The business's quarterly revenue was up 6.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.04 earnings per share. Equities analysts predict that Check Point Software Technologies Ltd. will post 8.61 EPS for the current year.
Check Point Software Technologies Profile
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Free Report)
Check Point Software Technologies Ltd. develops, markets, and supports a range of products and services for IT security worldwide. The company offers a multilevel security architecture, cloud, network, mobile devices, endpoints information, and IOT solutions. It provides Check Point Infinity Architecture, a cyber security architecture that protects against fifth generation cyber-attacks across various networks, endpoint, cloud, workloads, Internet of Things, and mobile.
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