Check Point Software Technologies Ltd. (NASDAQ:CHKP) Shares Sold by Retirement Systems of Alabama

Retirement Systems of Alabama reduced its position in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP - Free Report) by 31.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 27,434 shares of the technology company's stock after selling 12,400 shares during the period. Retirement Systems of Alabama's holdings in Check Point Software Technologies were worth $6,253,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Sowell Financial Services LLC purchased a new position in Check Point Software Technologies during the first quarter worth about $301,000. Assenagon Asset Management S.A. boosted its stake in 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. boosted its stake in Check Point Software Technologies by 19.1% during the first quarter. QRG Capital Management Inc. now owns 2,442 shares of the technology company's stock worth $557,000 after buying an additional 391 shares during the period. World Investment Advisors boosted its stake in Check Point Software Technologies by 4.4% during the fourth quarter. World Investment Advisors now owns 30,041 shares of the technology company's stock worth $5,609,000 after buying an additional 1,278 shares during the period. Finally, Daymark Wealth Partners LLC purchased a new position in Check Point Software Technologies during the first quarter worth about $452,000. 98.51% of the stock is currently owned by institutional investors and hedge funds.

Check Point Software Technologies Stock Down 0.3%

Check Point Software Technologies stock traded down $0.63 during trading on Wednesday, reaching $218.93. The stock had a trading volume of 449,934 shares, compared to its average volume of 787,284. Check Point Software Technologies Ltd. has a 52-week low of $153.88 and a 52-week high of $234.36. The business has a 50 day moving average price of $220.25 and a 200 day moving average price of $212.13. The stock has a market cap of $24.08 billion, a PE 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 issued its quarterly 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 previous year, the firm earned $2.04 earnings per share. The firm's quarterly revenue was up 6.5% on a year-over-year basis. On average, equities analysts predict that Check Point Software Technologies Ltd. will post 8.61 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

CHKP has been the subject of several research analyst reports. Jefferies Financial Group increased their target price on shares of Check Point Software Technologies from $250.00 to $255.00 and gave the stock a "buy" rating in a research note on Thursday, February 27th. Royal Bank Of Canada reissued a "sector perform" rating and issued a $215.00 price objective on shares of Check Point Software Technologies in a research note on Thursday, February 27th. BMO Capital Markets reissued an "outperform" rating and issued a $250.00 price objective on shares of Check Point Software Technologies in a research note on Wednesday, April 23rd. Compass Point set a $260.00 price objective on shares of Check Point Software Technologies in a research note on Thursday, March 27th. Finally, Piper Sandler raised shares of Check Point Software Technologies from a "neutral" rating to an "overweight" rating and raised their price objective for the company from $220.00 to $260.00 in a research note on Monday, March 3rd. Sixteen analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $232.44.

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.