Ninety One North America Inc. Sells 62,556 Shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Ninety One North America Inc. cut its holdings in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP - Free Report) by 31.3% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 137,147 shares of the technology company's stock after selling 62,556 shares during the quarter. Check Point Software Technologies makes up approximately 2.1% of Ninety One North America Inc.'s holdings, making the stock its 18th largest holding. Ninety One North America Inc. owned about 0.12% of Check Point Software Technologies worth $31,259,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of CHKP. Norges Bank purchased a new stake in Check Point Software Technologies during the 4th quarter worth approximately $428,820,000. Bessemer Group Inc. increased its holdings in shares of Check Point Software Technologies by 5,396.1% in the 1st quarter. Bessemer Group Inc. now owns 658,485 shares of the technology company's stock valued at $150,081,000 after acquiring an additional 646,504 shares during the last quarter. Clearbridge Investments LLC bought a new stake in shares of Check Point Software Technologies in the 4th quarter valued at approximately $100,456,000. Causeway Capital Management LLC increased its holdings in shares of Check Point Software Technologies by 33.8% in the 4th quarter. Causeway Capital Management LLC now owns 1,929,604 shares of the technology company's stock valued at $360,257,000 after acquiring an additional 487,823 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in shares of Check Point Software Technologies by 182.0% in the 1st quarter. Bank of New York Mellon Corp now owns 627,489 shares of the technology company's stock valued at $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.

Check Point Software Technologies Stock Up 2.2%

Shares of NASDAQ CHKP traded up $5.04 during midday trading on Wednesday, hitting $231.23. 1,002,548 shares of the company's stock were exchanged, compared to its average volume of 787,012. Check Point Software Technologies Ltd. has a 12 month low of $167.88 and a 12 month high of $234.36. The company's 50 day moving average price is $222.41 and its 200 day moving average price is $214.55. The firm has a market capitalization of $25.43 billion, a PE ratio of 30.51, a price-to-earnings-growth ratio of 3.23 and a beta of 0.64.

Check Point Software Technologies (NASDAQ:CHKP - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The technology company reported $2.21 EPS 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 company had revenue of $637.80 million during the quarter, compared to the consensus estimate of $635.80 million. During the same period in the previous year, the company posted $2.04 EPS. The firm's revenue for the quarter was up 6.5% compared to the same quarter last year. On average, equities research analysts anticipate that Check Point Software Technologies Ltd. will post 8.61 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on CHKP shares. Wedbush reiterated an "outperform" rating and issued a $240.00 price target on shares of Check Point Software Technologies in a report on Thursday, April 24th. Stephens lowered their price target on Check Point Software Technologies from $255.00 to $229.00 and set an "equal weight" rating for the company in a report on Thursday, April 24th. Wells Fargo & Company lowered their price target on Check Point Software Technologies from $280.00 to $265.00 and set an "overweight" rating for the company in a report on Thursday, April 24th. Morgan Stanley lowered their price target on Check Point Software Technologies from $235.00 to $220.00 and set an "equal weight" rating for the company in a report on Wednesday, April 16th. Finally, Bank of America upgraded Check Point Software Technologies from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $230.00 to $260.00 in a research note on Thursday, March 27th. Sixteen research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $232.44.

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.