Ethic Inc. Sells 1,629 Shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Ethic Inc. lowered its stake in Check Point Software Technologies Ltd. (NASDAQ:CHKP - Free Report) by 7.4% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 20,443 shares of the technology company's stock after selling 1,629 shares during the period. Ethic Inc.'s holdings in Check Point Software Technologies were worth $3,817,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of CHKP. Norges Bank bought a new position in shares of Check Point Software Technologies in the fourth quarter valued at $428,820,000. Clearbridge Investments LLC bought a new position in shares of Check Point Software Technologies in the fourth quarter valued at $100,456,000. Causeway Capital Management LLC raised its stake in Check Point Software Technologies by 33.8% during the 4th quarter. Causeway Capital Management LLC now owns 1,929,604 shares of the technology company's stock valued at $360,257,000 after purchasing an additional 487,823 shares during the period. Altshuler Shaham Ltd acquired a new stake in Check Point Software Technologies during the 4th quarter valued at $73,186,000. Finally, First Trust Advisors LP raised its stake in Check Point Software Technologies by 17.4% during the 4th quarter. First Trust Advisors LP now owns 1,822,787 shares of the technology company's stock valued at $340,314,000 after purchasing an additional 269,925 shares during the period. Institutional investors own 98.51% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on CHKP shares. Guggenheim restated a "neutral" rating on shares of Check Point Software Technologies in a report on Friday, January 31st. StockNews.com raised shares of Check Point Software Technologies from a "hold" rating to a "buy" rating in a report on Tuesday. UBS Group increased their price target on shares of Check Point Software Technologies from $200.00 to $230.00 and gave the company a "neutral" rating in a research note on Friday, January 31st. Wedbush reiterated an "outperform" rating and issued a $240.00 target price on shares of Check Point Software Technologies in a report on Thursday, April 24th. Finally, Roth Capital assumed coverage on shares of Check Point Software Technologies in a report on Wednesday, April 23rd. They set a "neutral" rating and a $215.00 price objective on the stock. Seventeen analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $232.04.

Check Point Software Technologies Stock Performance

Shares of Check Point Software Technologies stock traded down $3.38 on Wednesday, reaching $214.49. 580,276 shares of the stock were exchanged, compared to its average volume of 780,101. The firm's 50 day moving average is $219.98 and its 200-day moving average is $202.91. Check Point Software Technologies Ltd. has a one year low of $145.75 and a one year high of $234.36. The firm has a market cap of $23.59 billion, a PE ratio of 28.71, a P/E/G ratio of 3.41 and a beta of 0.66.

Check Point Software Technologies (NASDAQ:CHKP - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The technology company reported $2.21 EPS for the quarter, beating the consensus estimate of $2.19 by $0.02. The business had revenue of $637.80 million during the quarter, compared to the consensus estimate of $635.80 million. Check Point Software Technologies had a net margin of 32.97% and a return on equity of 32.40%. The firm's revenue was up 6.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.04 EPS. On average, equities research analysts expect that Check Point Software Technologies Ltd. will post 8.61 EPS for the current fiscal year.

Check Point Software Technologies Profile

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.