UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Lowers Position in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lessened its position in Check Point Software Technologies Ltd. (NASDAQ:CHKP - Free Report) by 5.6% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 1,033,615 shares of the technology company's stock after selling 61,272 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.94% of Check Point Software Technologies worth $192,976,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in CHKP. Nemes Rush Group LLC acquired a new stake in Check Point Software Technologies in the fourth quarter valued at approximately $25,000. Golden State Wealth Management LLC purchased a new position in shares of Check Point Software Technologies during the fourth quarter valued at approximately $35,000. Strategic Financial Concepts LLC purchased a new position in shares of Check Point Software Technologies during the fourth quarter valued at approximately $35,000. Quarry LP boosted its position in shares of Check Point Software Technologies by 100.0% during the fourth quarter. Quarry LP now owns 206 shares of the technology company's stock valued at $38,000 after buying an additional 103 shares during the last quarter. Finally, Exchange Traded Concepts LLC boosted its position in shares of Check Point Software Technologies by 142.7% during the fourth quarter. Exchange Traded Concepts LLC now owns 233 shares of the technology company's stock valued at $44,000 after buying an additional 137 shares during the last quarter. Institutional investors and hedge funds own 98.51% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CHKP. Barclays lifted their target price on Check Point Software Technologies from $200.00 to $230.00 and gave the company an "equal weight" rating in a research report on Thursday, January 30th. JPMorgan Chase & Co. raised Check Point Software Technologies from a "neutral" rating to an "overweight" rating and lifted their target price for the company from $221.00 to $255.00 in a research report on Wednesday, February 26th. Roth Capital initiated coverage on Check Point Software Technologies in a research report on Wednesday, April 23rd. They set a "neutral" rating and a $215.00 target price on the stock. UBS Group lifted their price target on Check Point Software Technologies from $200.00 to $230.00 and gave the stock a "neutral" rating in a report on Friday, January 31st. Finally, Piper Sandler upgraded Check Point Software Technologies from a "neutral" rating to an "overweight" rating and lifted their price target for the stock from $220.00 to $260.00 in a report on Monday, March 3rd. Sixteen analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Check Point Software Technologies presently has a consensus rating of "Hold" and an average target price of $232.04.

Check Point Software Technologies Stock Down 0.7%

CHKP traded down $1.61 during trading on Wednesday, reaching $227.02. 227,498 shares of the company were exchanged, compared to its average volume of 781,778. The company's 50-day moving average is $219.26 and its two-hundred day moving average is $206.02. The company has a market cap of $24.97 billion, a price-to-earnings ratio of 30.37, a P/E/G ratio of 3.41 and a beta of 0.66. Check Point Software Technologies Ltd. has a 12-month low of $145.75 and a 12-month high of $234.36.

Check Point Software Technologies (NASDAQ:CHKP - Get Free Report) last issued its quarterly earnings data 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 return on equity of 32.40% and a net margin of 32.97%. The business had revenue of $637.80 million for the quarter, compared to analysts' expectations of $635.80 million. During the same quarter in the prior year, the firm posted $2.04 EPS. The firm's quarterly revenue was up 6.5% on a year-over-year basis. Equities analysts forecast that Check Point Software Technologies Ltd. will post 8.61 earnings per share for the current year.

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.