Oregon Public Employees Retirement Fund Reduces Holdings in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Oregon Public Employees Retirement Fund lowered its holdings in Check Point Software Technologies Ltd. (NASDAQ:CHKP - Free Report) by 25.7% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 47,784 shares of the technology company's stock after selling 16,546 shares during the period. Oregon Public Employees Retirement Fund's holdings in Check Point Software Technologies were worth $10,891,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Sowell Financial Services LLC acquired a new stake in Check Point Software Technologies in the 1st quarter valued at about $301,000. Assenagon Asset Management S.A. increased its stake in shares of Check Point Software Technologies by 184.4% during the first quarter. Assenagon Asset Management S.A. now owns 57,690 shares of the technology company's stock worth $13,149,000 after buying an additional 37,407 shares during the period. QRG Capital Management Inc. raised its holdings in Check Point Software Technologies by 19.1% in the first quarter. QRG Capital Management Inc. now owns 2,442 shares of the technology company's stock valued at $557,000 after acquiring an additional 391 shares in the last quarter. World Investment Advisors lifted its stake in Check Point Software Technologies by 4.4% in the fourth quarter. World Investment Advisors now owns 30,041 shares of the technology company's stock worth $5,609,000 after acquiring an additional 1,278 shares during the last quarter. Finally, Daymark Wealth Partners LLC purchased a new position in Check Point Software Technologies in the first quarter worth approximately $452,000. Institutional investors and hedge funds own 98.51% of the company's stock.

Analysts Set New Price Targets

CHKP has been the topic of a number of recent analyst reports. Mizuho increased their price objective on shares of Check Point Software Technologies from $230.00 to $240.00 and gave the company a "neutral" rating in a research report on Monday, June 16th. Bank of America raised Check Point Software Technologies from a "neutral" rating to a "buy" rating and increased their target price for the company from $230.00 to $260.00 in a report on Thursday, March 27th. Wall Street Zen raised Check Point Software Technologies from a "hold" rating to a "buy" rating in a report on Tuesday, May 13th. Wedbush reaffirmed an "outperform" rating and set a $240.00 price objective on shares of Check Point Software Technologies in a research report on Thursday, April 24th. Finally, BMO Capital Markets reiterated an "outperform" rating and issued a $250.00 price objective on shares of Check Point Software Technologies in a report on Wednesday, April 23rd. Sixteen investment 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's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $232.44.

Check Point Software Technologies Price Performance

Shares of NASDAQ CHKP traded up $4.19 during trading on Thursday, hitting $223.58. 304,434 shares of the company were exchanged, compared to its average volume of 785,922. Check Point Software Technologies Ltd. has a 1 year low of $166.56 and a 1 year high of $234.36. The company has a market cap of $24.59 billion, a price-to-earnings ratio of 29.50, a PEG ratio of 3.14 and a beta of 0.64. The firm's fifty day moving average price is $221.12 and its 200 day moving average price is $213.21.

Check Point Software Technologies (NASDAQ:CHKP - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The technology company reported $2.21 earnings per share for the quarter, topping 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 company had revenue of $637.80 million for the quarter, compared to analyst estimates of $635.80 million. During the same period in the prior year, the business posted $2.04 earnings per share. The firm's revenue for the quarter was up 6.5% compared to the same quarter last year. On average, research analysts forecast that Check Point Software Technologies Ltd. will post 8.61 earnings per share for the current 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.