Check Point Software Technologies Ltd. (NASDAQ:CHKP) Holdings Decreased by Foundations Investment Advisors LLC

Key Points

• Foundations Investment Advisors LLC reduced its stake in Check Point Software Technologies by 35.2% in the latest quarter, holding 2,814 shares valued at approximately $641,000.
• Analysts are mixed on Check Point's prospects, with ratings ranging from "hold" to "buy," and a consensus price target of $228.08.
• Check Point reported a 6% year-over-year revenue increase with earnings per share (EPS) of $2.37, surpassing analyst expectations for the most recent quarter.

Foundations Investment Advisors LLC reduced its holdings in Check Point Software Technologies Ltd. (NASDAQ:CHKP - Free Report) by 35.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,814 shares of the technology company's stock after selling 1,529 shares during the period. Foundations Investment Advisors LLC's holdings in Check Point Software Technologies were worth $641,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Nemes Rush Group LLC bought a new position in shares of Check Point Software Technologies in the 4th quarter valued at about $25,000. Capital A Wealth Management LLC bought a new stake in Check Point Software Technologies during the fourth quarter worth about $29,000. Cromwell Holdings LLC bought a new position in Check Point Software Technologies in the first quarter valued at about $37,000. Quarry LP boosted its holdings 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 valued at $38,000 after acquiring an additional 103 shares in the last quarter. Finally, Abound Financial LLC acquired a new stake in Check Point Software Technologies in the first quarter valued at $40,000. Institutional investors own 98.51% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Roth Capital initiated coverage on shares of Check Point Software Technologies in a research report on Wednesday, April 23rd. They issued a "neutral" rating and a $215.00 price target on the stock. Royal Bank Of Canada decreased their price target on shares of Check Point Software Technologies from $224.00 to $207.00 and set a "sector perform" rating on the stock in a report on Thursday, July 31st. Cantor Fitzgerald set a $220.00 target price on Check Point Software Technologies and gave the company a "neutral" rating in a research note on Thursday, July 31st. Wedbush reiterated an "outperform" rating and set a $240.00 price target on shares of Check Point Software Technologies in a report on Thursday, April 24th. Finally, BMO Capital Markets restated an "outperform" rating and issued a $250.00 price objective on shares of Check Point Software Technologies in a report on Wednesday, April 23rd. Fifteen analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Check Point Software Technologies currently has a consensus rating of "Moderate Buy" and an average price target of $228.08.

Check Point Software Technologies Price Performance

Shares of NASDAQ CHKP traded down $2.28 during midday trading on Tuesday, hitting $190.49. 437,346 shares of the company's stock were exchanged, compared to its average volume of 928,742. The firm's fifty day simple moving average is $219.84 and its 200-day simple moving average is $218.40. The company has a market cap of $20.95 billion, a PE ratio of 24.80, a P/E/G ratio of 2.82 and a beta of 0.59. Check Point Software Technologies Ltd. has a twelve month low of $169.01 and a twelve month high of $234.35.

Check Point Software Technologies (NASDAQ:CHKP - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The technology company reported $2.37 earnings per share for the quarter, topping the consensus estimate of $2.36 by $0.01. The firm had revenue of $665.20 million during the quarter, compared to the consensus estimate of $663.10 million. Check Point Software Technologies had a return on equity of 33.21% and a net margin of 32.48%. The company's revenue for the quarter was up 6.0% on a year-over-year basis. During the same period last year, the company earned $2.17 earnings per share. Equities analysts anticipate that Check Point Software Technologies Ltd. will post 8.61 EPS 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.