Check Point Software Technologies Ltd. (NASDAQ:CHKP) Shares Sold by Ninety One North America Inc.

Ninety One North America Inc. decreased its position in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 14.0% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 344,311 shares of the technology company’s stock after selling 55,946 shares during the quarter. Check Point Software Technologies comprises 2.6% of Ninety One North America Inc.’s holdings, making the stock its 17th biggest position. Ninety One North America Inc.’s holdings in Check Point Software Technologies were worth $52,607,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in the company. Concord Wealth Partners purchased a new position in shares of Check Point Software Technologies in the 3rd quarter valued at approximately $25,000. CNB Bank purchased a new position in shares of Check Point Software Technologies in the 3rd quarter valued at approximately $27,000. Resurgent Financial Advisors LLC purchased a new stake in shares of Check Point Software Technologies in the fourth quarter valued at approximately $28,000. Bruce G. Allen Investments LLC purchased a new stake in shares of Check Point Software Technologies in the fourth quarter valued at approximately $30,000. Finally, Salem Investment Counselors Inc. boosted its stake in shares of Check Point Software Technologies by 483.7% in the fourth quarter. Salem Investment Counselors Inc. now owns 286 shares of the technology company’s stock valued at $44,000 after buying an additional 237 shares in the last quarter. Institutional investors and hedge funds own 87.62% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on CHKP. UBS Group lifted their price target on Check Point Software Technologies from $140.00 to $170.00 and gave the company a “neutral” rating in a research note on Wednesday, January 10th. Citigroup lifted their price target on Check Point Software Technologies from $140.00 to $155.00 and gave the company a “neutral” rating in a research note on Wednesday, January 10th. Wedbush restated an “outperform” rating and issued a $185.00 price target on shares of Check Point Software Technologies in a research note on Wednesday, April 10th. Truist Financial lifted their price target on Check Point Software Technologies from $170.00 to $175.00 and gave the company a “buy” rating in a research note on Wednesday, February 7th. Finally, Royal Bank of Canada lifted their price target on Check Point Software Technologies from $159.00 to $165.00 and gave the company a “sector perform” rating in a research note on Wednesday, February 7th. Thirteen investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $160.16.

Check Point Software Technologies Price Performance

CHKP traded up $1.67 on Thursday, reaching $159.76. The company’s stock had a trading volume of 300,464 shares, compared to its average volume of 705,322. The stock has a market cap of $19.29 billion, a price-to-earnings ratio of 22.20, a price-to-earnings-growth ratio of 2.54 and a beta of 0.61. Check Point Software Technologies Ltd. has a 1 year low of $117.18 and a 1 year high of $168.82. The business’s 50 day moving average is $162.32 and its 200 day moving average is $151.90.

Check Point Software Technologies (NASDAQ:CHKP) last issued its quarterly earnings results on Tuesday, February 6th. The technology company reported $2.57 EPS for the quarter, beating analysts’ consensus estimates of $2.47 by $0.10. The firm had revenue of $663.50 million during the quarter, compared to the consensus estimate of $662.09 million. Check Point Software Technologies had a return on equity of 30.81% and a net margin of 34.80%. Check Point Software Technologies’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.23 earnings per share. As a group, research analysts forecast that Check Point Software Technologies Ltd. will post 7.85 earnings per share for the current fiscal 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.