Check Point Software Technologies Ltd. (NASDAQ:CHKP) Shares Sold by Perpetual Ltd

Perpetual Ltd decreased its position in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP - Free Report) by 5.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 509,970 shares of the technology company's stock after selling 26,700 shares during the quarter. Check Point Software Technologies comprises about 1.4% of Perpetual Ltd's investment portfolio, making the stock its 20th largest holding. Perpetual Ltd owned about 0.46% of Check Point Software Technologies worth $116,232,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Norges Bank bought a new stake in Check Point Software Technologies during the 4th quarter valued at $428,820,000. Causeway Capital Management LLC raised its stake in shares of Check Point Software Technologies by 33.8% during the fourth quarter. Causeway Capital Management LLC now owns 1,929,604 shares of the technology company's stock valued at $360,257,000 after purchasing an additional 487,823 shares in the last quarter. First Trust Advisors LP lifted its holdings in 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 worth $340,314,000 after purchasing an additional 269,925 shares during the period. Robeco Institutional Asset Management B.V. grew its position in Check Point Software Technologies by 2.8% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 1,687,393 shares of the technology company's stock valued at $384,591,000 after buying an additional 46,713 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its stake 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 valued at $266,930,000 after buying an additional 136,699 shares during the period. Institutional investors own 98.51% of the company's stock.

Check Point Software Technologies Stock Performance

CHKP stock opened at $218.88 on Friday. The firm has a 50 day simple moving average of $220.33 and a 200 day simple moving average of $212.34. Check Point Software Technologies Ltd. has a 52 week low of $155.84 and a 52 week high of $234.36. The stock has a market cap of $24.07 billion, a P/E ratio of 28.88, a P/E/G ratio of 3.13 and a beta of 0.66.

Check Point Software Technologies (NASDAQ:CHKP - Get Free Report) last released its earnings results on Wednesday, April 23rd. The technology company reported $2.21 earnings per share (EPS) for the quarter, topping 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 company had revenue of $637.80 million during the quarter, compared to the consensus estimate of $635.80 million. During the same quarter in the prior year, the firm earned $2.04 EPS. The company's revenue was up 6.5% compared to the same quarter last year. Sell-side analysts predict that Check Point Software Technologies Ltd. will post 8.61 EPS for the current year.

Analyst Ratings Changes

CHKP has been the topic of a number of research analyst reports. Needham & Company LLC reiterated a "hold" rating on shares of Check Point Software Technologies in a research note on Thursday, February 27th. Wells Fargo & Company lowered their price target on Check Point Software Technologies from $280.00 to $265.00 and set an "overweight" rating on the stock in a research report on Thursday, April 24th. Mizuho upped their price objective on Check Point Software Technologies from $230.00 to $240.00 and gave the company a "neutral" rating in a report on Monday, June 16th. Stephens lowered their target price on Check Point Software Technologies from $255.00 to $229.00 and set an "equal weight" rating on the stock in a report on Thursday, April 24th. Finally, Wedbush reiterated an "outperform" rating and issued a $240.00 price target on shares of Check Point Software Technologies in a research report on Thursday, April 24th. Sixteen investment 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. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $232.44.

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.

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