Check Point Software Technologies Ltd. (NASDAQ:CHKP) Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. lowered its holdings in Check Point Software Technologies Ltd. (NASDAQ:CHKP - Free Report) by 7.0% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 180,459 shares of the technology company's stock after selling 13,602 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.16% of Check Point Software Technologies worth $41,130,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Nemes Rush Group LLC purchased a new stake in shares of Check Point Software Technologies in the 4th quarter valued at $25,000. Capital A Wealth Management LLC acquired a new position in shares of Check Point Software Technologies during the 4th quarter worth about $29,000. Quarry LP boosted its position in shares of Check Point Software Technologies by 100.0% during the 4th quarter. Quarry LP now owns 206 shares of the technology company's stock worth $38,000 after acquiring an additional 103 shares in the last quarter. Menard Financial Group LLC acquired a new position in shares of Check Point Software Technologies during the 4th quarter worth about $41,000. Finally, MassMutual Private Wealth & Trust FSB boosted its position in shares of Check Point Software Technologies by 19.6% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 336 shares of the technology company's stock worth $77,000 after acquiring an additional 55 shares in the last quarter. Hedge funds and other institutional investors own 98.51% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Compass Point set a $260.00 price objective on Check Point Software Technologies in a research report on Thursday, March 27th. Bank of America raised Check Point Software Technologies from a "neutral" rating to a "buy" rating and upped their target price for the company from $230.00 to $260.00 in a research report on Thursday, March 27th. Roth Capital initiated coverage on Check Point Software Technologies in a research report on Wednesday, April 23rd. They issued a "neutral" rating and a $215.00 target price for the company. Wedbush reaffirmed an "outperform" rating and set a $240.00 price objective on shares of Check Point Software Technologies in a research note on Thursday, April 24th. Finally, Morgan Stanley reduced their price objective on Check Point Software Technologies from $235.00 to $220.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 16th. Sixteen investment 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, Check Point Software Technologies has an average rating of "Hold" and an average target price of $232.44.

Check Point Software Technologies Stock Down 0.8%

NASDAQ CHKP traded down $1.69 during mid-day trading on Wednesday, hitting $219.39. The stock had a trading volume of 628,191 shares, compared to its average volume of 787,500. Check Point Software Technologies Ltd. has a 52-week low of $164.51 and a 52-week high of $234.36. The company has a market cap of $24.13 billion, a price-to-earnings ratio of 28.94, a P/E/G ratio of 3.16 and a beta of 0.64. The company has a 50 day simple moving average of $220.81 and a 200 day simple moving average of $213.17.

Check Point Software Technologies (NASDAQ:CHKP - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The technology company reported $2.21 earnings per share for the quarter, beating 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 firm had revenue of $637.80 million during the quarter, compared to the consensus estimate of $635.80 million. During the same period last year, the business posted $2.04 EPS. Check Point Software Technologies's quarterly revenue was up 6.5% on a year-over-year basis. As a group, equities analysts anticipate that Check Point Software Technologies Ltd. will post 8.61 earnings per share for the current fiscal year.

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.