Boston Partners Trims Stake in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Key Points

• Boston Partners reduced its stake in Check Point Software Technologies (NASDAQ:CHKP) by 2.0%, now holding approximately 3.4 million shares, which constitutes about 1.0% of their total portfolio.
• Check Point reported a 6.0% year-over-year revenue increase, with earnings per share of $2.37, slightly exceeding expectations.
• Several analysts have adjusted their price targets for Check Point, with a consensus indicating an average price target of $228.08 and a current rating of "Moderate Buy."

Boston Partners cut its position in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP - Free Report) by 2.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,447,926 shares of the technology company's stock after selling 70,164 shares during the period. Check Point Software Technologies accounts for about 1.0% of Boston Partners' investment portfolio, making the stock its 19th largest position. Boston Partners owned approximately 3.13% of Check Point Software Technologies worth $785,641,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Capital A Wealth Management LLC acquired a new stake in Check Point Software Technologies in the 4th quarter valued at $29,000. Cromwell Holdings LLC acquired a new stake in Check Point Software Technologies in the 1st quarter valued at $37,000. Quarry LP boosted its stake in Check Point Software Technologies by 100.0% in the 4th 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. Abound Financial LLC acquired a new stake in Check Point Software Technologies in the 1st quarter valued at $40,000. Finally, Menard Financial Group LLC acquired a new stake in Check Point Software Technologies in the 4th quarter valued at $41,000. 98.51% of the stock is owned by hedge funds and other institutional investors.

Check Point Software Technologies Trading Up 1.9%

CHKP stock traded up $3.60 during midday trading on Friday, reaching $188.92. 801,032 shares of the company's stock traded hands, compared to its average volume of 1,257,896. Check Point Software Technologies Ltd. has a 52-week low of $169.01 and a 52-week high of $234.35. The stock's 50-day moving average is $212.94 and its 200 day moving average is $217.57. The stock has a market cap of $20.78 billion, a P/E ratio of 24.60, a PEG ratio of 2.79 and a beta of 0.59.

Check Point Software Technologies (NASDAQ:CHKP - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The technology company reported $2.37 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.36 by $0.01. The firm 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 revenue for the quarter was up 6.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.17 EPS. As a group, research analysts expect that Check Point Software Technologies Ltd. will post 8.61 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Cantor Fitzgerald set a $220.00 target price on Check Point Software Technologies and gave the stock a "neutral" rating in a research report on Thursday, July 31st. Barclays set a $215.00 target price on Check Point Software Technologies and gave the stock an "equal weight" rating in a research report on Thursday, July 31st. UBS Group dropped their target price on Check Point Software Technologies from $220.00 to $210.00 and set a "neutral" rating for the company in a research report on Thursday, July 31st. Wedbush restated an "outperform" rating and set a $240.00 target price on shares of Check Point Software Technologies in a research report on Thursday, April 24th. Finally, Scotiabank dropped their target price on Check Point Software Technologies from $240.00 to $220.00 and set a "sector outperform" rating for the company in a research report on Thursday, July 31st. Fifteen equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Check Point Software Technologies has an average rating of "Moderate Buy" and an average price target of $228.08.

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.