Clark Capital Management Group Inc. Has $41.78 Million Position in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Clark Capital Management Group Inc. lowered its stake in Check Point Software Technologies Ltd. (NASDAQ:CHKP - Free Report) by 43.2% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 223,796 shares of the technology company's stock after selling 170,338 shares during the quarter. Clark Capital Management Group Inc. owned 0.20% of Check Point Software Technologies worth $41,783,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. EP Wealth Advisors LLC increased its stake in Check Point Software Technologies by 12.1% in the 4th quarter. EP Wealth Advisors LLC now owns 1,496 shares of the technology company's stock worth $279,000 after buying an additional 161 shares during the period. Concentric Capital Strategies LP grew its holdings in shares of Check Point Software Technologies by 324.1% in the fourth quarter. Concentric Capital Strategies LP now owns 51,013 shares of the technology company's stock valued at $9,524,000 after purchasing an additional 38,985 shares during the period. CoreCap Advisors LLC lifted its stake in Check Point Software Technologies by 262.9% during the fourth quarter. CoreCap Advisors LLC now owns 14,480 shares of the technology company's stock worth $2,703,000 after purchasing an additional 10,490 shares in the last quarter. Cetera Investment Advisers increased its stake in shares of Check Point Software Technologies by 1.5% during the fourth quarter. Cetera Investment Advisers now owns 63,528 shares of the technology company's stock worth $11,861,000 after buying an additional 917 shares during the period. Finally, Captrust Financial Advisors grew its position in shares of Check Point Software Technologies by 7.4% in the 4th quarter. Captrust Financial Advisors now owns 10,511 shares of the technology company's stock valued at $1,962,000 after buying an additional 722 shares during the last quarter. Institutional investors own 98.51% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on CHKP shares. Piper Sandler raised shares of Check Point Software Technologies from a "neutral" rating to an "overweight" rating and boosted their target price for the company from $220.00 to $260.00 in a research note on Monday, March 3rd. Cantor Fitzgerald restated a "neutral" rating and set a $200.00 price objective on shares of Check Point Software Technologies in a research report on Monday, January 27th. Wedbush reissued an "outperform" rating and issued a $240.00 price objective on shares of Check Point Software Technologies in a research report on Thursday, April 24th. Scotiabank dropped their price objective on Check Point Software Technologies from $250.00 to $240.00 and set a "sector outperform" rating for the company in a report on Thursday, April 24th. Finally, BMO Capital Markets reissued an "outperform" rating and issued a $250.00 target price on shares of Check Point Software Technologies in a research report on Wednesday, April 23rd. Seventeen research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $232.04.

Check Point Software Technologies Trading Down 2.0%

NASDAQ CHKP traded down $4.39 on Wednesday, reaching $213.48. The company's stock had a trading volume of 247,564 shares, compared to its average volume of 780,438. The firm has a market cap of $23.48 billion, a PE ratio of 28.58, a price-to-earnings-growth ratio of 3.41 and a beta of 0.66. The business has a 50-day moving average price of $219.98 and a 200 day moving average price of $202.91. Check Point Software Technologies Ltd. has a 52 week low of $145.75 and a 52 week high of $234.36.

Check Point Software Technologies (NASDAQ:CHKP - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The technology company reported $2.21 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 company had revenue of $637.80 million for the quarter, compared to analyst estimates of $635.80 million. During the same period in the prior year, the business earned $2.04 earnings per share. Check Point Software Technologies's quarterly revenue was up 6.5% on a year-over-year basis. Analysts anticipate that Check Point Software Technologies Ltd. will post 8.61 earnings per share for the current fiscal year.

Check Point Software Technologies Company 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.