Employees Retirement System of Texas Has $3.98 Million Stock Holdings in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Employees Retirement System of Texas cut its holdings in Check Point Software Technologies Ltd. (NASDAQ:CHKP - Free Report) by 27.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,304 shares of the technology company's stock after selling 8,096 shares during the period. Employees Retirement System of Texas' holdings in Check Point Software Technologies were worth $3,977,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Brucke Financial Inc. bought a new stake in shares of Check Point Software Technologies during the 4th quarter worth about $214,000. Bernard Wealth Management Corp. acquired a new position in Check Point Software Technologies during the fourth quarter valued at approximately $76,000. Capital A Wealth Management LLC acquired a new stake in shares of Check Point Software Technologies in the fourth quarter worth $29,000. Mackenzie Financial Corp lifted its stake in shares of Check Point Software Technologies by 2.5% in the fourth quarter. Mackenzie Financial Corp now owns 20,730 shares of the technology company's stock worth $3,870,000 after buying an additional 506 shares during the last quarter. Finally, WCG Wealth Advisors LLC boosted its holdings in shares of Check Point Software Technologies by 6.4% during the 4th quarter. WCG Wealth Advisors LLC now owns 13,472 shares of the technology company's stock worth $2,515,000 after buying an additional 814 shares during the period. 98.51% of the stock is owned by institutional investors and hedge funds.

Check Point Software Technologies Trading Up 1.2%

CHKP stock traded up $2.60 during trading on Friday, hitting $226.99. 1,131,162 shares of the stock traded hands, compared to its average volume of 785,687. The company has a 50 day simple moving average of $219.04 and a 200 day simple moving average of $206.80. Check Point Software Technologies Ltd. has a one year low of $145.75 and a one year high of $234.36. The stock has a market cap of $24.97 billion, a price-to-earnings ratio of 30.39, a P/E/G ratio of 3.41 and a beta of 0.66.

Check Point Software Technologies (NASDAQ:CHKP - Get Free Report) last released its earnings results on Wednesday, April 23rd. The technology company reported $2.21 earnings per share for the quarter, topping analysts' consensus estimates of $2.19 by $0.02. The company had revenue of $637.80 million during the quarter, compared to the consensus estimate of $635.80 million. Check Point Software Technologies had a return on equity of 32.40% and a net margin of 32.97%. The firm's quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.04 earnings per share. As a group, analysts predict that Check Point Software Technologies Ltd. will post 8.61 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on CHKP shares. BMO Capital Markets reissued an "outperform" rating and set a $250.00 target price on shares of Check Point Software Technologies in a research report on Wednesday, April 23rd. Royal Bank of Canada reiterated 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. Mizuho increased their target price on Check Point Software Technologies from $220.00 to $230.00 and gave the company a "neutral" rating in a research note on Wednesday, February 26th. Truist Financial reaffirmed a "buy" rating and issued a $250.00 price target (up from $220.00) on shares of Check Point Software Technologies in a research report on Friday, January 31st. Finally, Stifel Nicolaus upped their price target on Check Point Software Technologies from $190.00 to $220.00 and gave the stock a "hold" rating in a report on Friday, January 31st. Sixteen investment 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's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $232.04.

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.