Sumitomo Mitsui Trust Group Inc. decreased its position in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP - Free Report) by 7.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 180,459 shares of the technology company's stock after selling 13,602 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.16% of Check Point Software Technologies worth $41,130,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Nemes Rush Group LLC bought a new stake in Check Point Software Technologies during the fourth quarter worth $25,000. Capital A Wealth Management LLC bought a new stake in Check Point Software Technologies during the fourth quarter worth $29,000. Quarry LP grew its holdings in Check Point Software Technologies by 100.0% during the fourth quarter. Quarry LP now owns 206 shares of the technology company's stock worth $38,000 after buying an additional 103 shares in the last quarter. Menard Financial Group LLC bought a new stake in Check Point Software Technologies during the fourth quarter worth $41,000. Finally, MassMutual Private Wealth & Trust FSB grew its holdings in Check Point Software Technologies by 19.6% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 336 shares of the technology company's stock worth $77,000 after buying an additional 55 shares in the last quarter. Institutional investors own 98.51% of the company's stock.
Analyst Upgrades and Downgrades
Several equities research analysts recently issued reports on CHKP shares. Compass Point set a $260.00 price target on Check Point Software Technologies in a report on Thursday, March 27th. Wells Fargo & Company cut their price objective 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. Scotiabank cut their price objective on Check Point Software Technologies from $250.00 to $240.00 and set a "sector outperform" rating on the stock in a research report on Thursday, April 24th. BMO Capital Markets reissued 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. Finally, Wedbush reissued 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. Sixteen equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $232.44.
View Our Latest Report on CHKP
Check Point Software Technologies Trading Up 1.9%
Shares of Check Point Software Technologies stock traded up $4.19 on Friday, reaching $223.58. The stock had a trading volume of 304,434 shares, compared to its average volume of 785,871. Check Point Software Technologies Ltd. has a 1 year low of $167.54 and a 1 year high of $234.36. The company has a market cap of $24.59 billion, a P/E ratio of 29.50, a price-to-earnings-growth ratio of 3.20 and a beta of 0.64. The business's 50 day moving average is $221.75 and its two-hundred day moving average is $213.69.
Check Point Software Technologies (NASDAQ:CHKP - Get Free Report) last announced 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 firm had revenue of $637.80 million for the quarter, compared to the consensus estimate of $635.80 million. During the same period in the prior year, the firm posted $2.04 earnings per share. The company's revenue for the quarter was up 6.5% on a year-over-year basis. On average, equities analysts anticipate that Check Point Software Technologies Ltd. will post 8.61 EPS for the current fiscal year.
About Check Point Software Technologies
(
Free Report)
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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