Oppenheimer Asset Management Inc. Lowers Stock Holdings in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Oppenheimer Asset Management Inc. trimmed its stake in Check Point Software Technologies Ltd. (NASDAQ:CHKP - Free Report) by 34.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,147 shares of the technology company's stock after selling 2,734 shares during the period. Oppenheimer Asset Management Inc.'s holdings in Check Point Software Technologies were worth $1,173,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Nemes Rush Group LLC acquired a new stake in shares of Check Point Software Technologies in the fourth quarter valued at approximately $25,000. Capital A Wealth Management LLC purchased a new stake in Check Point Software Technologies in the 4th quarter valued at $29,000. Quarry LP boosted its stake in Check Point Software Technologies by 100.0% during the 4th quarter. Quarry LP now owns 206 shares of the technology company's stock worth $38,000 after purchasing an additional 103 shares during the period. Menard Financial Group LLC acquired a new stake in Check Point Software Technologies during the 4th quarter worth $41,000. Finally, Bernard Wealth Management Corp. purchased a new position in Check Point Software Technologies during the 4th quarter worth $76,000. 98.51% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on CHKP. Stephens decreased their target price on shares of Check Point Software Technologies from $255.00 to $229.00 and set an "equal weight" rating for the company in a research note on Thursday, April 24th. Bank of America raised Check Point Software Technologies from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $230.00 to $260.00 in a research report on Thursday, March 27th. Wedbush reiterated 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 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 research note on Thursday, April 24th. Finally, Wells Fargo & Company lowered their price objective on shares of Check Point Software Technologies from $280.00 to $265.00 and set an "overweight" rating on the stock in a research 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 given a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $232.44.

Check Point Software Technologies Price Performance

CHKP traded down $2.11 during trading on Wednesday, reaching $218.97. 346,557 shares of the stock were exchanged, compared to its average volume of 786,440. The company has a market capitalization of $24.08 billion, a price-to-earnings ratio of 28.90, a P/E/G ratio of 3.16 and a beta of 0.64. Check Point Software Technologies Ltd. has a 1 year low of $164.51 and a 1 year high of $234.36. The business's 50 day moving average price is $220.81 and its two-hundred day moving average price is $213.17.

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