Check Point Software Technologies Ltd. (NASDAQ:CHKP) Shares Sold by Investment Management Corp of Ontario

Investment Management Corp of Ontario decreased its position in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP - Free Report) by 24.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,221 shares of the technology company's stock after selling 3,024 shares during the period. Investment Management Corp of Ontario's holdings in Check Point Software Technologies were worth $1,722,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the company. Nemes Rush Group LLC purchased a new position in shares of Check Point Software Technologies in the 4th quarter valued at approximately $25,000. GAMMA Investing LLC boosted its stake in shares of Check Point Software Technologies by 53.1% in the fourth quarter. GAMMA Investing LLC now owns 173 shares of the technology company's stock valued at $32,000 after buying an additional 60 shares in the last quarter. Golden State Wealth Management LLC purchased a new stake in shares of Check Point Software Technologies in the fourth quarter valued at approximately $35,000. Strategic Financial Concepts LLC purchased a new stake in shares of Check Point Software Technologies in the fourth quarter valued at approximately $35,000. Finally, Quarry LP boosted its stake in shares of Check Point Software Technologies by 100.0% in the fourth quarter. Quarry LP now owns 206 shares of the technology company's stock valued at $38,000 after buying an additional 103 shares in the last quarter. Institutional investors and hedge funds own 98.51% of the company's stock.

Check Point Software Technologies Price Performance

Check Point Software Technologies stock traded up $1.61 during midday trading on Thursday, hitting $216.10. 678,181 shares of the stock were exchanged, compared to its average volume of 779,695. Check Point Software Technologies Ltd. has a 1 year low of $145.75 and a 1 year high of $234.36. The firm has a market cap 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. The company has a 50 day moving average price of $219.67 and a two-hundred day moving average price 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 (EPS) for the quarter, topping the consensus estimate of $2.19 by $0.02. Check Point Software Technologies had a net margin of 32.97% and a return on equity of 32.40%. The firm had revenue of $637.80 million for the quarter, compared to the consensus estimate of $635.80 million. During the same quarter in the previous year, the firm posted $2.04 EPS. The firm's quarterly revenue was up 6.5% on a year-over-year basis. As a group, analysts predict that Check Point Software Technologies Ltd. will post 8.61 EPS for the current year.

Analysts Set New Price Targets

A number of analysts recently weighed in on CHKP shares. Compass Point set a $260.00 price target on Check Point Software Technologies in a research note on Thursday, March 27th. Barclays upped their price objective on Check Point Software Technologies from $200.00 to $230.00 and gave the company an "equal weight" rating in a research report on Thursday, January 30th. Wells Fargo & Company reduced their price objective on Check Point Software Technologies from $280.00 to $265.00 and set an "overweight" rating on the stock in a research report on Thursday, April 24th. Needham & Company LLC restated a "hold" rating on shares of Check Point Software Technologies in a research report on Thursday, February 27th. Finally, UBS Group increased their target price on Check Point Software Technologies from $200.00 to $230.00 and gave the stock a "neutral" rating in a research report on Friday, January 31st. Sixteen research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $232.04.

About Check Point Software Technologies

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.