Sound Shore Management Inc. CT Sells 208,002 Shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Sound Shore Management Inc. CT reduced its stake in Check Point Software Technologies Ltd. (NASDAQ:CHKP - Free Report) by 43.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 270,886 shares of the technology company's stock after selling 208,002 shares during the period. Sound Shore Management Inc. CT owned approximately 0.25% of Check Point Software Technologies worth $61,740,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Norges Bank acquired a new stake in Check Point Software Technologies in the fourth quarter worth about $428,820,000. Victory Capital Management Inc. increased its position 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 worth $297,333,000 after purchasing an additional 1,258,034 shares during the period. Bessemer Group Inc. increased 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 period. Clearbridge Investments LLC bought a new stake in shares of Check Point Software Technologies during the 4th quarter valued at $100,456,000. Finally, Causeway Capital Management LLC raised its position in shares of Check Point Software Technologies by 33.8% during 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. 98.51% of the stock is currently owned by institutional investors.

Check Point Software Technologies Trading Down 0.9%

CHKP stock traded down $1.90 during mid-day trading on Friday, hitting $220.11. 789,371 shares of the company were exchanged, compared to its average volume of 629,111. The business has a 50 day simple moving average of $222.85 and a 200-day simple moving average of $217.33. The stock has a market capitalization of $24.21 billion, a PE ratio of 29.04, a price-to-earnings-growth ratio of 3.17 and a beta of 0.64. Check Point Software Technologies Ltd. has a 1-year low of $169.01 and a 1-year high of $234.35.

Check Point Software Technologies (NASDAQ:CHKP - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The technology company reported $2.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.19 by $0.02. The firm had revenue of $637.80 million during the quarter, compared to the consensus estimate 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 last year, the business posted $2.04 earnings per share. Equities research analysts expect that Check Point Software Technologies Ltd. will post 8.61 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Wells Fargo & Company cut their target price on Check Point Software Technologies from $280.00 to $265.00 and set an "overweight" rating on the stock in a research note 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 for the company in a research note on Wednesday, April 16th. Barclays lifted their price target on shares of Check Point Software Technologies from $230.00 to $245.00 and gave the stock an "equal weight" rating in a research report on Monday, July 14th. Stephens dropped their price objective on Check Point Software Technologies from $255.00 to $229.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 24th. Finally, Mizuho boosted their target price on Check Point Software Technologies from $230.00 to $240.00 and gave the company a "neutral" rating in a research note on Monday, June 16th. Fifteen equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $236.50.

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.