Check Point Software Technologies Ltd. (NASDAQ:CHKP) Shares Sold by Morningstar Investment Services LLC

Morningstar Investment Services LLC trimmed its position in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP - Free Report) by 60.2% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,813 shares of the technology company's stock after selling 26,917 shares during the quarter. Morningstar Investment Services LLC's holdings in Check Point Software Technologies were worth $4,060,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of CHKP. Commonwealth Equity Services LLC boosted its stake in Check Point Software Technologies by 10.5% during the fourth quarter. Commonwealth Equity Services LLC now owns 21,084 shares of the technology company's stock worth $3,936,000 after buying an additional 2,006 shares during the period. Natixis Advisors LLC boosted its stake in shares of Check Point Software Technologies by 1.5% during the fourth quarter. Natixis Advisors LLC now owns 50,472 shares of the technology company's stock valued at $9,423,000 after purchasing an additional 746 shares during the period. Envestnet Portfolio Solutions Inc. boosted its stake in shares of Check Point Software Technologies by 8.0% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 7,544 shares of the technology company's stock valued at $1,408,000 after purchasing an additional 559 shares during the period. Teacher Retirement System of Texas boosted its stake in shares of Check Point Software Technologies by 16.3% during the fourth quarter. Teacher Retirement System of Texas now owns 98,696 shares of the technology company's stock valued at $18,427,000 after purchasing an additional 13,843 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in shares of Check Point Software Technologies by 0.4% during the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 14,661 shares of the technology company's stock valued at $2,737,000 after purchasing an additional 61 shares during the period. 98.51% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CHKP has been the subject of a number of recent analyst reports. Bank of America raised shares of Check Point Software Technologies from a "neutral" rating to a "buy" rating and boosted their target price for the company from $230.00 to $260.00 in a research note on Thursday, March 27th. Roth Capital initiated coverage on shares of Check Point Software Technologies in a research note on Wednesday, April 23rd. They set a "neutral" rating and a $215.00 target price for the company. Wall Street Zen raised shares of Check Point Software Technologies from a "hold" rating to a "buy" rating in a research note on Tuesday, May 13th. Barclays upped their price objective on shares of Check Point Software Technologies from $230.00 to $245.00 and gave the stock an "equal weight" rating in a research note on Monday, July 14th. Finally, Wells Fargo & Company lowered their price objective on shares of Check Point Software Technologies from $280.00 to $265.00 and set an "overweight" rating for the company in a research note on Thursday, April 24th. Sixteen analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $234.24.

Check Point Software Technologies Trading Down 0.9%

NASDAQ CHKP traded down $1.99 on Friday, hitting $215.48. 911,625 shares of the company's stock traded hands, compared to its average volume of 789,936. Check Point Software Technologies Ltd. has a 1-year low of $169.02 and a 1-year high of $234.36. The firm's 50-day moving average price is $222.32 and its two-hundred day moving average price is $216.18. The firm has a market capitalization of $23.70 billion, a PE ratio of 28.43, a P/E/G ratio of 3.08 and a beta of 0.64.

Check Point Software Technologies (NASDAQ:CHKP - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The technology company reported $2.21 EPS for the quarter, beating the consensus estimate 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 business had revenue of $637.80 million during the quarter, compared to analysts' expectations of $635.80 million. During the same period in the previous year, the business posted $2.04 EPS. The business's quarterly revenue was up 6.5% compared to the same quarter last year. On average, research analysts anticipate that Check Point Software Technologies Ltd. will post 8.61 earnings per share for the current fiscal year.

Check Point Software Technologies 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.