Allspring Global Investments Holdings LLC Sells 68,285 Shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Allspring Global Investments Holdings LLC lowered its holdings in Check Point Software Technologies Ltd. (NASDAQ:CHKP - Free Report) by 89.4% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,095 shares of the technology company's stock after selling 68,285 shares during the period. Allspring Global Investments Holdings LLC's holdings in Check Point Software Technologies were worth $1,869,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of CHKP. Proficio Capital Partners LLC bought a new position in Check Point Software Technologies in the fourth quarter worth about $13,838,000. Raymond James Financial Inc. bought a new position in Check Point Software Technologies in the fourth quarter worth about $38,558,000. Bank Julius Baer & Co. Ltd Zurich lifted its holdings in Check Point Software Technologies by 279.2% in the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 6,749 shares of the technology company's stock worth $1,356,000 after acquiring an additional 4,969 shares during the last quarter. Personal CFO Solutions LLC bought a new position in Check Point Software Technologies in the fourth quarter worth about $231,000. Finally, Daiwa Securities Group Inc. lifted its holdings in Check Point Software Technologies by 2.7% in the fourth quarter. Daiwa Securities Group Inc. now owns 9,097 shares of the technology company's stock worth $1,698,000 after acquiring an additional 242 shares during the last quarter. Institutional investors own 98.51% of the company's stock.

Check Point Software Technologies Trading Up 0.7%

CHKP stock traded up $1.48 during mid-day trading on Wednesday, hitting $227.67. The stock had a trading volume of 22,251 shares, compared to its average volume of 782,334. Check Point Software Technologies Ltd. has a 1-year low of $167.88 and a 1-year high of $234.36. The company has a fifty day moving average of $222.18 and a 200 day moving average of $214.43. The stock has a market capitalization of $25.04 billion, a price-to-earnings ratio of 30.04, a PEG ratio of 3.19 and a beta of 0.64.

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. The company had revenue of $637.80 million during the quarter, compared to the consensus estimate of $635.80 million. Check Point Software Technologies had a return on equity of 32.88% and a net margin of 32.75%. The firm's revenue was up 6.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.04 EPS. As a group, sell-side analysts expect that Check Point Software Technologies Ltd. will post 8.61 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on CHKP shares. Wells Fargo & Company cut their price target on Check Point Software Technologies from $280.00 to $265.00 and set an "overweight" rating on the stock in a report on Thursday, April 24th. Scotiabank cut their price target on Check Point Software Technologies from $250.00 to $240.00 and set a "sector outperform" rating on the stock in a report on Thursday, April 24th. Wedbush reaffirmed an "outperform" rating and set a $240.00 price target on shares of Check Point Software Technologies in a report on Thursday, April 24th. Morgan Stanley cut their price target on Check Point Software Technologies from $235.00 to $220.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 16th. Finally, BMO Capital Markets reaffirmed an "outperform" rating and set a $250.00 price target on shares of Check Point Software Technologies in a report on Wednesday, April 23rd. Sixteen investment 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 presently has a consensus rating of "Hold" and an average target price of $232.44.

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.