Earnest Partners LLC Sells 14,097 Shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Earnest Partners LLC cut its stake in Check Point Software Technologies Ltd. (NASDAQ:CHKP - Free Report) by 2.1% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 667,864 shares of the technology company's stock after selling 14,097 shares during the quarter. Earnest Partners LLC owned about 0.61% of Check Point Software Technologies worth $124,690,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank bought a new stake in Check Point Software Technologies during the fourth quarter valued at $428,820,000. Clearbridge Investments LLC bought a new stake in shares of Check Point Software Technologies during the 4th quarter valued at about $100,456,000. Causeway Capital Management LLC grew its holdings in shares of Check Point Software Technologies by 33.8% during the fourth quarter. Causeway Capital Management LLC now owns 1,929,604 shares of the technology company's stock worth $360,257,000 after purchasing an additional 487,823 shares in the last quarter. Altshuler Shaham Ltd bought a new position in shares of Check Point Software Technologies in the fourth quarter worth approximately $73,186,000. Finally, First Trust Advisors LP raised its stake in Check Point Software Technologies by 17.4% in the fourth 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 in the last quarter. 98.51% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on CHKP shares. Jefferies Financial Group raised their price objective on shares of Check Point Software Technologies from $250.00 to $255.00 and gave the company a "buy" rating in a research report on Thursday, February 27th. Stephens lowered their price target on Check Point Software Technologies from $255.00 to $229.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 24th. Piper Sandler upgraded Check Point Software Technologies from a "neutral" rating to an "overweight" rating and increased their price objective for the company from $220.00 to $260.00 in a research report on Monday, March 3rd. Wedbush restated an "outperform" rating and issued a $240.00 target price on shares of Check Point Software Technologies in a research report on Thursday, April 24th. Finally, Barclays increased their price target on shares of 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. Eighteen research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $232.04.

Check Point Software Technologies Price Performance

CHKP stock traded up $2.60 during midday trading on Friday, hitting $216.63. The stock had a trading volume of 278,409 shares, compared to its average volume of 773,037. The business has a 50-day moving average of $220.20 and a two-hundred day moving average of $202.24. The firm has a market cap of $23.83 billion, a price-to-earnings ratio of 29.04, a price-to-earnings-growth ratio of 3.41 and a beta of 0.62. 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 issued its quarterly earnings results on Wednesday, April 23rd. The technology company reported $2.21 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analysts' expectations of $635.80 million. During the same period last year, the company posted $2.04 EPS. Check Point Software Technologies's revenue was up 6.5% on a year-over-year basis. Research analysts predict that Check Point Software Technologies Ltd. will post 8.61 earnings per share for the current 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.