Citigroup Inc. Has $19.22 Million Stock Holdings in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Citigroup Inc. lowered its stake in Check Point Software Technologies Ltd. (NASDAQ:CHKP - Free Report) by 10.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 84,345 shares of the technology company's stock after selling 9,631 shares during the period. Citigroup Inc. owned 0.08% of Check Point Software Technologies worth $19,224,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. First Trust Advisors LP increased its holdings in shares of 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. Robeco Institutional Asset Management B.V. grew its holdings in Check Point Software Technologies by 2.8% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 1,687,393 shares of the technology company's stock worth $384,591,000 after acquiring an additional 46,713 shares during the period. Ameriprise Financial Inc. grew its holdings in Check Point Software Technologies by 10.6% during the 4th quarter. Ameriprise Financial Inc. now owns 1,429,724 shares of the technology company's stock worth $266,930,000 after acquiring an additional 136,699 shares during the period. Victory Capital Management Inc. grew its holdings in Check Point Software Technologies by 2,704.5% during the 1st quarter. Victory Capital Management Inc. now owns 1,304,551 shares of the technology company's stock worth $297,333,000 after acquiring an additional 1,258,034 shares during the period. Finally, Westfield Capital Management Co. LP grew its holdings in Check Point Software Technologies by 214.6% during the 1st quarter. Westfield Capital Management Co. LP now owns 864,717 shares of the technology company's stock worth $197,086,000 after acquiring an additional 589,816 shares during the period. Institutional investors and hedge funds own 98.51% of the company's stock.

Analysts Set New Price Targets

A number of research firms have commented on CHKP. UBS Group lowered their target price on shares of Check Point Software Technologies from $220.00 to $210.00 and set a "neutral" rating for the company in a report on Thursday, July 31st. Wedbush reissued an "outperform" rating and set a $240.00 price target on shares of Check Point Software Technologies in a research report on Thursday, April 24th. Wall Street Zen raised shares of Check Point Software Technologies from a "hold" rating to a "buy" rating in a research report on Tuesday, May 13th. Wells Fargo & Company reduced their price target on shares of Check Point Software Technologies from $265.00 to $225.00 and set an "overweight" rating on the stock in a research report on Thursday, July 31st. Finally, Stifel Nicolaus set a $200.00 price target on shares of Check Point Software Technologies in a research report on Wednesday, July 30th. Fifteen 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 stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $228.08.

Check Point Software Technologies Price Performance

CHKP stock traded up $3.60 during midday trading on Friday, hitting $188.92. The company's stock had a trading volume of 801,032 shares, compared to its average volume of 1,257,896. Check Point Software Technologies Ltd. has a twelve month low of $169.01 and a twelve month high of $234.35. The company's fifty day moving average price is $212.05 and its 200 day moving average price is $217.47. The stock has a market capitalization 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 results on Wednesday, July 30th. The technology company reported $2.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.01. Check Point Software Technologies had a net margin of 32.48% and a return on equity of 33.21%. The firm had revenue of $665.20 million for the quarter, compared to analyst estimates of $663.10 million. During the same period in the previous year, the business earned $2.17 EPS. The company's revenue was up 6.0% compared to the same quarter last year. Equities analysts expect that Check Point Software Technologies Ltd. will post 8.61 EPS for the current fiscal 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.