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

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

Other hedge funds also recently made changes to their positions in the company. Nemes Rush Group LLC purchased a new position in shares of Check Point Software Technologies in the 4th quarter worth approximately $25,000. Capital A Wealth Management LLC bought a new stake in Check Point Software Technologies in the fourth quarter worth $29,000. Quarry LP boosted its stake 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 buying an additional 103 shares during the period. Abound Financial LLC purchased a new position in Check Point Software Technologies during the first quarter worth $40,000. Finally, Menard Financial Group LLC purchased a new position in Check Point Software Technologies during the fourth quarter worth $41,000. 98.51% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CHKP has been the subject of several recent analyst reports. Bank of America raised shares of Check Point Software Technologies from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $230.00 to $260.00 in a research note on Thursday, March 27th. Roth Capital initiated coverage on Check Point Software Technologies in a research report on Wednesday, April 23rd. They set a "neutral" rating and a $215.00 target price for the company. 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 report on Wednesday, April 16th. BMO Capital Markets reaffirmed an "outperform" rating and issued a $250.00 price objective on shares of Check Point Software Technologies in a research note on Wednesday, April 23rd. Finally, Wedbush restated an "outperform" rating and set a $240.00 target price on shares of Check Point Software Technologies in a report on Thursday, April 24th. Sixteen equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $232.44.

Check Point Software Technologies Price Performance

Check Point Software Technologies stock traded up $3.20 during midday trading on Tuesday, reaching $226.19. The company had a trading volume of 710,350 shares, compared to its average volume of 785,285. The company has a market capitalization of $24.88 billion, a P/E ratio of 29.84, a P/E/G ratio of 3.19 and a beta of 0.64. Check Point Software Technologies Ltd. has a 12-month low of $167.88 and a 12-month high of $234.36. The firm's fifty day simple moving average is $221.96 and its 200-day simple moving average is $214.35.

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