Check Point Software Technologies Ltd. $CHKP Shares Sold by Russell Investments Group Ltd.

Key Points

• Russell Investments Group Ltd. has reduced its stake in Check Point Software Technologies by 49.2%, holding 123,145 shares after selling 119,330 shares recently.
• Check Point Software Technologies reported $2.37 earnings per share for the last quarter, slightly exceeding analyst expectations of $2.36, with a revenue of $665.20 million.
• Stock price targets for Check Point have been adjusted, with UBS Group lowering their target from $220 to $210, while Mizuho raised theirs from $230 to $240, reflecting mixed analyst views.

Russell Investments Group Ltd. cut its position in Check Point Software Technologies Ltd. (NASDAQ:CHKP - Free Report) by 49.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 123,145 shares of the technology company's stock after selling 119,330 shares during the quarter. Russell Investments Group Ltd. owned 0.11% of Check Point Software Technologies worth $28,076,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Victory Capital Management Inc. grew its stake in Check Point Software Technologies by 2,704.5% in the first quarter. Victory Capital Management Inc. now owns 1,304,551 shares of the technology company's stock valued at $297,333,000 after acquiring an additional 1,258,034 shares during the period. Invesco Ltd. boosted its position in shares of Check Point Software Technologies by 737.5% during the first quarter. Invesco Ltd. now owns 982,986 shares of the technology company's stock valued at $224,042,000 after buying an additional 865,608 shares during the last quarter. Bessemer Group Inc. boosted its position in 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 purchasing an additional 646,504 shares during the last quarter. Westfield Capital Management Co. LP boosted its position in Check Point Software Technologies by 214.6% in the first quarter. Westfield Capital Management Co. LP now owns 864,717 shares of the technology company's stock worth $197,086,000 after purchasing an additional 589,816 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in 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 purchasing an additional 404,958 shares during the last quarter. 98.51% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently commented on CHKP shares. BMO Capital Markets reaffirmed an "outperform" rating and set a $250.00 price target on shares of Check Point Software Technologies in a research report on Wednesday, April 23rd. Jefferies Financial Group dropped their target price on Check Point Software Technologies from $260.00 to $230.00 and set a "buy" rating for the company in a report on Thursday, July 31st. Wedbush reissued an "outperform" rating and issued a $240.00 target price on shares of Check Point Software Technologies in a research report on Thursday, April 24th. UBS Group reduced their price objective on Check Point Software Technologies from $220.00 to $210.00 and set a "neutral" rating for the company in a research report on Thursday, July 31st. Finally, Citigroup reduced their price objective on Check Point Software Technologies from $230.00 to $200.00 and set a "neutral" rating for the company in a research report on Monday. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and fifteen have issued a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $228.50.

Check Point Software Technologies Trading Up 0.4%

Shares of CHKP stock traded up $0.6820 during trading hours on Wednesday, reaching $188.6820. 343,507 shares of the company's stock were exchanged, compared to its average volume of 935,021. The stock's 50 day moving average is $210.43 and its 200-day moving average is $217.15. Check Point Software Technologies Ltd. has a fifty-two week low of $169.01 and a fifty-two week high of $234.35. The company has a market cap of $20.75 billion, a price-to-earnings ratio of 24.56, a P/E/G ratio of 2.84 and a beta of 0.59.

Check Point Software Technologies (NASDAQ:CHKP - Get Free Report) last released its earnings results on Wednesday, July 30th. The technology company reported $2.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.01. Check Point Software Technologies had a return on equity of 33.21% and a net margin of 32.48%.The firm had revenue of $665.20 million for the quarter, compared to the consensus estimate of $663.10 million. During the same period in the prior year, the firm earned $2.17 EPS. The firm's revenue was up 6.0% on a year-over-year basis. Check Point Software Technologies has set its FY 2025 guidance at 9.600-10.200 EPS. Q3 2025 guidance at 2.400-2.500 EPS. Equities analysts anticipate that Check Point Software Technologies Ltd. will post 8.61 EPS 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.