Check Point Software Technologies Ltd. (NASDAQ:CHKP) Stake Reduced by Vontobel Holding Ltd.

Vontobel Holding Ltd. lessened its holdings in Check Point Software Technologies Ltd. (NASDAQ:CHKP - Free Report) by 13.1% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 84,369 shares of the technology company's stock after selling 12,737 shares during the period. Vontobel Holding Ltd. owned about 0.08% of Check Point Software Technologies worth $19,229,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Sowell Financial Services LLC purchased a new position in shares of Check Point Software Technologies in the 1st quarter worth approximately $301,000. Assenagon Asset Management S.A. increased its position in shares of Check Point Software Technologies by 184.4% during the first quarter. Assenagon Asset Management S.A. now owns 57,690 shares of the technology company's stock worth $13,149,000 after purchasing an additional 37,407 shares in the last quarter. QRG Capital Management Inc. lifted its holdings in shares of Check Point Software Technologies by 19.1% during the 1st 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 last quarter. World Investment Advisors boosted its position in shares of Check Point Software Technologies by 4.4% in the 4th quarter. World Investment Advisors now owns 30,041 shares of the technology company's stock worth $5,609,000 after purchasing an additional 1,278 shares in the last quarter. Finally, Daymark Wealth Partners LLC purchased a new position in Check Point Software Technologies during the 1st quarter worth $452,000. 98.51% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on CHKP. Compass Point set a $260.00 price target on shares of Check Point Software Technologies in a research note on Thursday, March 27th. Morgan Stanley lowered their price target on Check Point Software Technologies from $235.00 to $220.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 16th. BMO Capital Markets reissued an "outperform" rating and issued a $250.00 price objective on shares of Check Point Software Technologies in a report on Wednesday, April 23rd. Wells Fargo & Company reduced their price objective 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. Finally, Bank of America upgraded Check Point Software Technologies from a "neutral" rating to a "buy" rating and upped their target price for the company from $230.00 to $260.00 in a research report on Thursday, March 27th. Sixteen analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $232.44.

Check Point Software Technologies Stock Performance

Check Point Software Technologies stock traded down $1.69 during trading on Wednesday, reaching $219.39. The company had a trading volume of 628,191 shares, compared to its average volume of 787,500. The firm has a market capitalization of $24.13 billion, a price-to-earnings ratio of 28.94, a PEG ratio of 3.16 and a beta of 0.64. The stock's 50 day moving average price is $220.81 and its two-hundred day moving average price is $213.17. Check Point Software Technologies Ltd. has a 12-month low of $164.51 and a 12-month high of $234.36.

Check Point Software Technologies (NASDAQ:CHKP - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The technology company reported $2.21 earnings per share for the quarter, beating the consensus estimate 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 business had revenue of $637.80 million during the quarter, compared to the consensus estimate of $635.80 million. During the same period in the prior year, the firm earned $2.04 earnings per share. The business's quarterly revenue was up 6.5% compared to the same quarter last year. As a group, research analysts expect that Check Point Software Technologies Ltd. will post 8.61 earnings per share 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.