Gateway Investment Advisers LLC Trims Stake in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Gateway Investment Advisers LLC lessened its stake in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP - Free Report) by 26.6% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 11,123 shares of the technology company's stock after selling 4,031 shares during the period. Gateway Investment Advisers LLC's holdings in Check Point Software Technologies were worth $2,535,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Yousif Capital Management LLC increased its stake in shares of Check Point Software Technologies by 1.7% in the fourth quarter. Yousif Capital Management LLC now owns 5,507 shares of the technology company's stock worth $1,028,000 after purchasing an additional 90 shares in the last quarter. Choreo LLC lifted its stake in shares of Check Point Software Technologies by 16.1% during the 4th quarter. Choreo LLC now owns 2,388 shares of the technology company's stock valued at $447,000 after buying an additional 332 shares in the last quarter. Strategic Financial Concepts LLC bought a new position in Check Point Software Technologies in the 4th quarter worth $35,000. Golden State Wealth Management LLC purchased a new stake in Check Point Software Technologies in the 4th quarter worth $35,000. Finally, Kingsview Wealth Management LLC increased its stake in Check Point Software Technologies by 3.1% in the 4th quarter. Kingsview Wealth Management LLC now owns 1,891 shares of the technology company's stock worth $353,000 after buying an additional 57 shares in the last quarter. Hedge funds and other institutional investors own 98.51% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on CHKP shares. Arete Research raised Check Point Software Technologies to a "hold" rating in a research note on Monday, February 24th. Scotiabank lowered their price target on Check Point Software Technologies from $250.00 to $240.00 and set a "sector outperform" rating on the stock in a report on Thursday, April 24th. Bank of America upgraded Check Point Software Technologies from a "neutral" rating to a "buy" rating and upped their price target for the stock from $230.00 to $260.00 in a research note on Thursday, March 27th. Baird R W raised shares of Check Point Software Technologies from a "hold" rating to a "strong-buy" rating in a report on Thursday, February 27th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Check Point Software Technologies in a research report on Thursday, February 27th. Sixteen analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $232.04.

Check Point Software Technologies Trading Down 0.8%

Shares of NASDAQ CHKP traded down $1.79 during midday trading on Wednesday, hitting $227.86. The company's stock had a trading volume of 652,332 shares, compared to its average volume of 930,936. Check Point Software Technologies Ltd. has a 12-month low of $153.88 and a 12-month high of $234.35. The firm has a market cap of $25.06 billion, a P/E ratio of 30.50, a price-to-earnings-growth ratio of 3.41 and a beta of 0.66. The business's 50 day moving average is $219.32 and its two-hundred day moving average is $209.59.

Check Point Software Technologies (NASDAQ:CHKP - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The technology company reported $2.21 EPS for the quarter, beating the consensus estimate 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 company had revenue of $637.80 million for the quarter, compared to the consensus estimate of $635.80 million. During the same quarter in the prior year, the company posted $2.04 EPS. Check Point Software Technologies's quarterly revenue was up 6.5% on a year-over-year basis. On average, analysts predict 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.