Teacher Retirement System of Texas cut its stake in Check Point Software Technologies Ltd. (NASDAQ:CHKP - Free Report) by 41.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 57,561 shares of the technology company's stock after selling 41,135 shares during the quarter. Teacher Retirement System of Texas owned about 0.05% of Check Point Software Technologies worth $13,119,000 at the end of the most recent quarter.
Other hedge funds also recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. raised its position in Check Point Software Technologies by 184.4% in the first quarter. Assenagon Asset Management S.A. now owns 57,690 shares of the technology company's stock valued at $13,149,000 after purchasing an additional 37,407 shares during the period. Sowell Financial Services LLC purchased a new position in Check Point Software Technologies in the first quarter valued at about $301,000. QRG Capital Management Inc. raised its position in Check Point Software Technologies by 19.1% in the first quarter. QRG Capital Management Inc. now owns 2,442 shares of the technology company's stock valued at $557,000 after purchasing an additional 391 shares during the period. World Investment Advisors raised its position in Check Point Software Technologies by 4.4% in the fourth quarter. World Investment Advisors now owns 30,041 shares of the technology company's stock valued at $5,609,000 after purchasing an additional 1,278 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in Check Point Software Technologies by 15.9% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,937 shares of the technology company's stock valued at $899,000 after purchasing an additional 541 shares during the period. 98.51% of the stock is owned by hedge funds and other institutional investors.
Check Point Software Technologies Trading Up 1.4%
NASDAQ CHKP traded up $3.20 during trading hours on Tuesday, reaching $226.19. The company's stock had a trading volume of 710,350 shares, compared to its average volume of 785,285. The business has a 50-day simple moving average of $222.18 and a 200 day simple moving average of $214.43. Check Point Software Technologies Ltd. has a 52 week low of $167.88 and a 52 week high of $234.36. The stock has a market cap of $24.88 billion, a PE ratio of 29.84, a PEG ratio of 3.19 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 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.19 by $0.02. Check Point Software Technologies had a net margin of 32.75% and a return on equity of 32.88%. The firm had revenue of $637.80 million for the quarter, compared to analysts' expectations of $635.80 million. During the same quarter last year, the company posted $2.04 earnings per share. Check Point Software Technologies's revenue was up 6.5% on a year-over-year basis. As a group, equities analysts predict that Check Point Software Technologies Ltd. will post 8.61 EPS for the current year.
Analyst Ratings Changes
Several analysts have recently weighed in on CHKP shares. BMO Capital Markets restated an "outperform" rating and set a $250.00 target price on shares of Check Point Software Technologies in a research note on Wednesday, April 23rd. Morgan Stanley lowered their target price on 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. Scotiabank lowered their target price 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. Roth Capital started coverage on Check Point Software Technologies in a research note on Wednesday, April 23rd. They set a "neutral" rating and a $215.00 target price for the company. Finally, Wells Fargo & Company lowered their target price on Check Point Software Technologies from $280.00 to $265.00 and set an "overweight" rating for the company in a research note on Thursday, April 24th. Sixteen 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, the stock currently has a consensus rating of "Hold" and a consensus target price of $232.44.
Check Out Our Latest Analysis on Check Point Software Technologies
Check Point Software Technologies Company Profile
(
Free Report)
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.
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