Check Point Software Technologies Ltd. (NASDAQ:CHKP) Shares Sold by Diamond Hill Capital Management Inc.

Key Points

• Diamond Hill Capital Management Inc. reduced its stake in Check Point Software Technologies by 5.2%, holding 47,794 shares valued at approximately $10.89 million after selling 2,601 shares this quarter.
• The stock price of Check Point Software Technologies has decreased by 0.9%, trading at $220.11, with a market cap of $24.21 billion and a P/E ratio of 29.04.
• Check Point Software reported $2.21 EPS for the latest quarter, beating expectations and showing a year-over-year revenue increase of 6.5% to $637.80 million.

Diamond Hill Capital Management Inc. lowered its position in Check Point Software Technologies Ltd. (NASDAQ:CHKP - Free Report) by 5.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 47,794 shares of the technology company's stock after selling 2,601 shares during the quarter. Diamond Hill Capital Management Inc.'s holdings in Check Point Software Technologies were worth $10,893,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. Nemes Rush Group LLC purchased a new stake in Check Point Software Technologies during the 4th quarter worth approximately $25,000. Capital A Wealth Management LLC acquired a new position in Check Point Software Technologies during the fourth quarter worth $29,000. Cromwell Holdings LLC acquired a new stake in shares of Check Point Software Technologies in the first quarter valued at about $37,000. Quarry LP increased its position 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 purchasing an additional 103 shares during the last quarter. Finally, Abound Financial LLC acquired a new stake in Check Point Software Technologies during the first quarter worth about $40,000. 98.51% of the stock is currently owned by institutional investors.

Check Point Software Technologies Stock Down 0.9%

Shares of Check Point Software Technologies stock traded down $1.90 on Friday, hitting $220.11. 789,371 shares of the company's stock traded hands, compared to its average volume of 629,111. The stock has a market cap of $24.21 billion, a P/E ratio of 29.04, a PEG ratio of 3.17 and a beta of 0.64. The firm's 50-day moving average is $222.85 and its 200 day moving average is $217.33. Check Point Software Technologies Ltd. has a 52-week low of $169.01 and a 52-week high of $234.35.

Check Point Software Technologies (NASDAQ:CHKP - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The technology company reported $2.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.19 by $0.02. The business had revenue of $637.80 million for the quarter, compared to analyst estimates of $635.80 million. Check Point Software Technologies had a return on equity of 32.88% and a net margin of 32.75%. The business's revenue was up 6.5% compared to the same quarter last year. During the same period in the prior year, the company posted $2.04 EPS. Equities research analysts forecast that Check Point Software Technologies Ltd. will post 8.61 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently commented on CHKP. Wall Street Zen raised shares of Check Point Software Technologies from a "hold" rating to a "buy" rating in a research note on Tuesday, May 13th. BMO Capital Markets reaffirmed an "outperform" rating and issued a $250.00 target price on shares of Check Point Software Technologies in a report on Wednesday, April 23rd. Barclays lifted their price objective on shares of Check Point Software Technologies from $230.00 to $245.00 and gave the company an "equal weight" rating in a research report on Monday, July 14th. Wells Fargo & Company decreased their target price on shares of 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. Finally, Jefferies Financial Group boosted their target price on shares of Check Point Software Technologies from $255.00 to $260.00 and gave the company a "buy" rating in a research note on Thursday. Fifteen equities research 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 stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $236.50.

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.