Ninety One UK Ltd Sells 1,061,553 Shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Ninety One UK Ltd decreased its position in Check Point Software Technologies Ltd. (NASDAQ:CHKP - Free Report) by 29.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,528,033 shares of the technology company's stock after selling 1,061,553 shares during the quarter. Check Point Software Technologies accounts for 1.6% of Ninety One UK Ltd's portfolio, making the stock its 18th largest position. Ninety One UK Ltd owned about 2.30% of Check Point Software Technologies worth $576,189,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of CHKP. Nemes Rush Group LLC bought a new stake in Check Point Software Technologies in the fourth quarter valued at approximately $25,000. Capital A Wealth Management LLC bought a new stake in Check Point Software Technologies in the fourth quarter valued at approximately $29,000. Abound Financial LLC bought a new stake in Check Point Software Technologies in the first quarter valued at approximately $40,000. Quarry LP lifted its position 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 purchasing an additional 103 shares during the last quarter. Finally, Menard Financial Group LLC bought a new stake in Check Point Software Technologies in the fourth quarter valued at approximately $41,000. Institutional investors own 98.51% of the company's stock.

Check Point Software Technologies Trading Down 2.6%

Check Point Software Technologies stock traded down $5.76 during mid-day trading on Friday, hitting $215.50. The company had a trading volume of 817,391 shares, compared to its average volume of 788,008. The stock's 50 day moving average price is $222.52 and its two-hundred day moving average price is $214.95. Check Point Software Technologies Ltd. has a 12 month low of $169.02 and a 12 month high of $234.36. The company has a market capitalization of $23.70 billion, a PE ratio of 28.43, a price-to-earnings-growth ratio of 3.16 and a beta of 0.64.

Check Point Software Technologies (NASDAQ:CHKP - Get Free Report) last released its earnings results on Wednesday, April 23rd. The technology company reported $2.21 EPS for the quarter, topping the consensus estimate of $2.19 by $0.02. Check Point Software Technologies had a return on equity of 32.88% and a net margin of 32.75%. The business had revenue of $637.80 million for the quarter, compared to the consensus estimate of $635.80 million. During the same period in the previous year, the company posted $2.04 earnings per share. The company's revenue for the quarter was up 6.5% compared to the same quarter last year. Equities research analysts anticipate that Check Point Software Technologies Ltd. will post 8.61 EPS for the current year.

Analysts Set New Price Targets

CHKP has been the subject of several recent research reports. Wedbush reiterated an "outperform" rating and issued a $240.00 price objective on shares of Check Point Software Technologies in a research report on Thursday, April 24th. BMO Capital Markets reiterated an "outperform" rating and issued a $250.00 price objective on shares of Check Point Software Technologies in a research report on Wednesday, April 23rd. Roth Capital started coverage on Check Point Software Technologies in a research note on Wednesday, April 23rd. They set a "neutral" rating and a $215.00 target price on the stock. Morgan Stanley reduced their target price on Check Point Software Technologies from $235.00 to $220.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 16th. Finally, Scotiabank reduced their target price on Check Point Software Technologies from $250.00 to $240.00 and set a "sector outperform" rating on the stock in a research note on Thursday, April 24th. Sixteen equities 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 stock. According to data from MarketBeat.com, Check Point Software Technologies currently has a consensus rating of "Hold" and an average 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.