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 first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 137,147 shares of the technology company's stock after selling 62,556 shares during the period. Check Point Software Technologies accounts for approximately 2.1% of Ninety One North America Inc.'s holdings, making the stock its 18th biggest holding. 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 quarter.

A number of other large investors also recently added to or reduced their stakes in CHKP. Alpha Cubed Investments LLC raised its holdings in Check Point Software Technologies by 66.6% during the 1st quarter. Alpha Cubed Investments LLC now owns 2,083 shares of the technology company's stock worth $475,000 after buying an additional 833 shares during the period. Abound Financial LLC acquired a new stake in shares of Check Point Software Technologies in the first quarter valued at approximately $40,000. Callan Capital LLC raised its holdings in shares of Check Point Software Technologies by 29.5% in the first quarter. Callan Capital LLC now owns 1,777 shares of the technology company's stock valued at $405,000 after purchasing an additional 405 shares during the last quarter. TD Private Client Wealth LLC raised its holdings in shares of Check Point Software Technologies by 6.3% in the first quarter. TD Private Client Wealth LLC now owns 1,901 shares of the technology company's stock valued at $433,000 after purchasing an additional 112 shares during the last quarter. Finally, Envestnet Asset Management Inc. raised its holdings in shares of Check Point Software Technologies by 0.3% in the first quarter. Envestnet Asset Management Inc. now owns 434,329 shares of the technology company's stock valued at $98,992,000 after purchasing an additional 1,088 shares during the last quarter. 98.51% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently weighed in on CHKP shares. Wedbush reissued an "outperform" rating and issued a $240.00 target price on shares of Check Point Software Technologies in a research note on Thursday, April 24th. Scotiabank lowered their target price on shares of 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. Morgan Stanley lowered their target price on shares of Check Point Software Technologies from $235.00 to $220.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 16th. BMO Capital Markets reaffirmed an "outperform" rating and set a $250.00 price objective on shares of Check Point Software Technologies in a research report on Wednesday, April 23rd. Finally, Compass Point set a $260.00 price objective on shares of Check Point Software Technologies in a research report on Thursday, March 27th. Sixteen investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Check Point Software Technologies has an average rating of "Hold" and an average price target of $232.44.

Check Point Software Technologies Stock Up 1.4%

NASDAQ:CHKP traded up $3.18 during trading hours on Wednesday, hitting $229.37. 316,270 shares of the company traded hands, compared to its average volume of 783,490. The firm's 50-day simple moving average is $222.18 and its 200-day simple moving average is $214.43. Check Point Software Technologies Ltd. has a one year low of $167.88 and a one year high of $234.36. The company has a market cap of $25.23 billion, a PE ratio of 30.26, a PEG ratio of 3.19 and a beta of 0.64.

Check Point Software Technologies (NASDAQ:CHKP - Get Free Report) last released its earnings results on Wednesday, April 23rd. The technology company reported $2.21 EPS for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $635.80 million. During the same period in the previous year, the business posted $2.04 EPS. The business's revenue for the quarter was up 6.5% compared to the same quarter last year. As a group, equities research analysts expect that Check Point Software Technologies Ltd. will post 8.61 EPS for the current year.

About Check Point Software Technologies

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.