Check Point Software Technologies Ltd. $CHKP Shares Sold by American Money Management LLC

Key Points

• American Money Management LLC sold 2,528 shares of Check Point Software Technologies, reducing its stake by 61% to 1,615 shares, valued at $368,000.
• Equities analysts have set various price targets for Check Point's stock, with a consensus rating of **"Moderate Buy"** and an average target price of **$228.08**.
• For the latest quarter, Check Point reported **$2.37 earnings per share**, surpassing estimates and showing a **6.0% revenue increase** year-over-year.

American Money Management LLC cut its position in Check Point Software Technologies Ltd. (NASDAQ:CHKP - Free Report) by 61.0% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,615 shares of the technology company's stock after selling 2,528 shares during the period. American Money Management LLC's holdings in Check Point Software Technologies were worth $368,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Cerity Partners LLC grew its position in shares of Check Point Software Technologies by 36.1% in the 4th quarter. Cerity Partners LLC now owns 7,220 shares of the technology company's stock valued at $1,361,000 after buying an additional 1,916 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Check Point Software Technologies in the 4th quarter valued at $38,558,000. Sterling Capital Management LLC grew its position in shares of Check Point Software Technologies by 4.4% in the 4th quarter. Sterling Capital Management LLC now owns 6,610 shares of the technology company's stock valued at $1,234,000 after buying an additional 281 shares during the last quarter. Barclays PLC grew its position in shares of Check Point Software Technologies by 9.5% in the 4th quarter. Barclays PLC now owns 88,086 shares of the technology company's stock valued at $16,446,000 after buying an additional 7,654 shares during the last quarter. Finally, Mariner LLC grew its position in shares of Check Point Software Technologies by 4.6% in the 4th quarter. Mariner LLC now owns 31,515 shares of the technology company's stock valued at $5,884,000 after buying an additional 1,374 shares during the last quarter. 98.51% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CHKP has been the topic of a number of recent analyst reports. Cantor Fitzgerald set a $220.00 target price on shares of Check Point Software Technologies and gave the company a "neutral" rating in a research report on Thursday, July 31st. Citigroup decreased their price target on shares of Check Point Software Technologies from $230.00 to $200.00 and set a "neutral" rating for the company in a research note on Monday. BMO Capital Markets reiterated an "outperform" rating and set a $250.00 price target on shares of Check Point Software Technologies in a research note on Wednesday, April 23rd. Stifel Nicolaus set a $200.00 price target on shares of Check Point Software Technologies in a research note on Wednesday, July 30th. Finally, Scotiabank decreased their price target on shares of Check Point Software Technologies from $240.00 to $220.00 and set a "sector outperform" rating for the company in a research note on Thursday, July 31st. Fifteen research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $228.50.

Check Point Software Technologies Trading Down 0.1%

Shares of NASDAQ CHKP traded down $0.28 during midday trading on Monday, reaching $188.64. 880,425 shares of the stock were exchanged, compared to its average volume of 939,317. The company has a market capitalization of $20.75 billion, a P/E ratio of 24.56, a P/E/G ratio of 2.84 and a beta of 0.59. Check Point Software Technologies Ltd. has a 52-week low of $169.01 and a 52-week high of $234.35. The stock has a 50 day moving average price of $212.05 and a 200-day moving average price of $217.56.

Check Point Software Technologies (NASDAQ:CHKP - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The technology company reported $2.37 EPS for the quarter, topping analysts' consensus estimates of $2.36 by $0.01. The business had revenue of $665.20 million during the quarter, compared to the consensus estimate of $663.10 million. Check Point Software Technologies had a net margin of 32.48% and a return on equity of 33.21%. The company's quarterly revenue was up 6.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.17 earnings per share. On average, analysts forecast that Check Point Software Technologies Ltd. will post 8.61 earnings per share for the current year.

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.