Check Point Software Technologies Ltd. (NASDAQ:CHKP) Shares Sold by Ninety One North America Inc.

Ninety One North America Inc. cut its holdings in Check Point Software Technologies Ltd. (NASDAQ:CHKP - Free Report) by 31.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 137,147 shares of the technology company's stock after selling 62,556 shares during the quarter. Check Point Software Technologies accounts for 2.1% of Ninety One North America Inc.'s portfolio, making the stock its 18th biggest holding. Ninety One North America Inc. owned 0.12% of Check Point Software Technologies worth $31,259,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of Check Point Software Technologies in the fourth quarter worth $428,820,000. Bessemer Group Inc. raised its holdings in shares of Check Point Software Technologies by 5,396.1% in the first quarter. Bessemer Group Inc. now owns 658,485 shares of the technology company's stock worth $150,081,000 after acquiring an additional 646,504 shares during the last quarter. Clearbridge Investments LLC acquired a new position in shares of Check Point Software Technologies in the fourth quarter worth $100,456,000. Causeway Capital Management LLC raised its holdings in shares of Check Point Software Technologies by 33.8% in the fourth quarter. Causeway Capital Management LLC now owns 1,929,604 shares of the technology company's stock worth $360,257,000 after acquiring an additional 487,823 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of Check Point Software Technologies by 182.0% in the first quarter. Bank of New York Mellon Corp now owns 627,489 shares of the technology company's stock worth $143,017,000 after acquiring an additional 404,958 shares during the last quarter. 98.51% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CHKP has been the subject of a number of analyst reports. Roth Capital initiated coverage on Check Point Software Technologies in a report on Wednesday, April 23rd. They issued a "neutral" rating and a $215.00 price target for the company. Scotiabank cut their price target on Check Point Software Technologies from $250.00 to $240.00 and set a "sector outperform" rating for the company in a report on Thursday, April 24th. Morgan Stanley dropped their target price on Check Point Software Technologies from $235.00 to $220.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 16th. BMO Capital Markets reiterated an "outperform" rating and issued a $250.00 target price on shares of Check Point Software Technologies in a research note on Wednesday, April 23rd. Finally, Bank of America upgraded Check Point Software Technologies from a "neutral" rating to a "buy" rating and upped their target price for the company from $230.00 to $260.00 in a research note on Thursday, March 27th. Sixteen investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Check Point Software Technologies presently has an average rating of "Hold" and a consensus target price of $232.44.

Check Point Software Technologies Stock Down 4.3%

Shares of NASDAQ CHKP traded down $9.97 on Thursday, hitting $221.26. The company had a trading volume of 865,022 shares, compared to its average volume of 787,335. Check Point Software Technologies Ltd. has a 12-month low of $167.88 and a 12-month high of $234.36. The business has a 50 day moving average of $222.41 and a two-hundred day moving average of $214.55. The firm has a market capitalization of $24.33 billion, a P/E ratio of 29.19, a PEG ratio of 3.23 and a beta of 0.64.

Check Point Software Technologies (NASDAQ:CHKP - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The technology company reported $2.21 EPS for the quarter, beating analysts' consensus estimates of $2.19 by $0.02. The firm 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 32.88% and a net margin of 32.75%. Check Point Software Technologies's revenue for the quarter was up 6.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.04 earnings per share. On average, sell-side analysts anticipate 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.