Envestnet Portfolio Solutions Inc. Lowers Holdings in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Envestnet Portfolio Solutions Inc. decreased its position in Check Point Software Technologies Ltd. (NASDAQ:CHKP - Free Report) by 34.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,939 shares of the technology company's stock after selling 2,605 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in Check Point Software Technologies were worth $1,126,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Nemes Rush Group LLC acquired a new stake in Check Point Software Technologies in the fourth quarter valued at approximately $25,000. Capital A Wealth Management LLC acquired a new stake in Check Point Software Technologies in the fourth quarter valued at approximately $29,000. Quarry LP raised its holdings in Check Point Software Technologies by 100.0% in the fourth quarter. Quarry LP now owns 206 shares of the technology company's stock valued at $38,000 after acquiring an additional 103 shares in the last quarter. Menard Financial Group LLC acquired a new stake in Check Point Software Technologies in the fourth quarter valued at approximately $41,000. Finally, Bernard Wealth Management Corp. acquired a new stake in Check Point Software Technologies in the fourth quarter valued at approximately $76,000. Institutional investors and hedge funds own 98.51% of the company's stock.

Check Point Software Technologies Stock Down 0.3%

NASDAQ:CHKP traded down $0.63 during midday trading on Wednesday, reaching $218.93. The stock had a trading volume of 449,934 shares, compared to its average volume of 787,284. The firm has a fifty day simple moving average of $220.25 and a two-hundred day simple moving average of $212.13. Check Point Software Technologies Ltd. has a 12-month low of $153.88 and a 12-month high of $234.36. The stock has a market cap of $24.08 billion, a P/E ratio of 28.88, a P/E/G ratio of 3.14 and a beta of 0.66.

Check Point Software Technologies (NASDAQ:CHKP - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The technology company reported $2.21 earnings per share for the quarter, beating analysts' consensus estimates of $2.19 by $0.02. Check Point Software Technologies had a net margin of 32.75% and a return on equity of 32.88%. The firm had revenue of $637.80 million for the quarter, compared to analyst estimates of $635.80 million. During the same period last year, the firm posted $2.04 EPS. Check Point Software Technologies's quarterly revenue was up 6.5% on a year-over-year basis. On average, sell-side analysts anticipate that Check Point Software Technologies Ltd. will post 8.61 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently weighed in on CHKP shares. Wedbush reaffirmed an "outperform" rating and issued a $240.00 target price on shares of Check Point Software Technologies in a report on Thursday, April 24th. Bank of America raised shares of Check Point Software Technologies from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $230.00 to $260.00 in a report on Thursday, March 27th. Royal Bank Of Canada reissued a "sector perform" rating and set a $215.00 price objective on shares of Check Point Software Technologies in a report on Thursday, February 27th. Wall Street Zen raised shares of Check Point Software Technologies from a "hold" rating to a "buy" rating in a report on Tuesday, May 13th. Finally, Needham & Company LLC reissued a "hold" rating on shares of Check Point Software Technologies in a report on Thursday, February 27th. Sixteen 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 data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $232.44.

Check Point Software Technologies Company 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.