Check Point Software Technologies Ltd. (NASDAQ:CHKP) Stake Cut by California Public Employees Retirement System

California Public Employees Retirement System cut its position in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 0.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 584,997 shares of the technology company’s stock after selling 4,264 shares during the quarter. California Public Employees Retirement System owned 0.50% of Check Point Software Technologies worth $89,382,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Concord Wealth Partners bought a new stake in Check Point Software Technologies in the third quarter valued at $25,000. Bruce G. Allen Investments LLC bought a new stake in Check Point Software Technologies in the fourth quarter valued at $30,000. CNB Bank bought a new stake in Check Point Software Technologies in the third quarter valued at $27,000. Salem Investment Counselors Inc. lifted its stake in 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 during the last quarter. Finally, Y.D. More Investments Ltd bought a new stake in Check Point Software Technologies in the third quarter valued at $49,000. 87.62% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have issued reports on CHKP. UBS Group raised their target price 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. William Blair raised Check Point Software Technologies from a “market perform” rating to an “outperform” rating in a report on Wednesday, January 31st. Susquehanna raised their price target on Check Point Software Technologies from $190.00 to $200.00 and gave the company a “positive” rating in a report on Wednesday, February 7th. Scotiabank raised their price target on Check Point Software Technologies from $170.00 to $180.00 and gave the company a “sector outperform” rating in a report on Wednesday, February 7th. Finally, Royal Bank of Canada raised their price target on Check Point Software Technologies from $159.00 to $165.00 and gave the company a “sector perform” rating in a report on Wednesday, February 7th. Thirteen investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $160.16.

Check Point Software Technologies Trading Up 0.1 %

Shares of CHKP opened at $161.00 on Thursday. The business’s 50-day moving average price is $161.87 and its 200 day moving average price is $152.78. The stock has a market capitalization of $19.44 billion, a P/E ratio of 22.61, a P/E/G ratio of 2.61 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.

Check Point Software Technologies (NASDAQ:CHKP) last issued its quarterly earnings results on Tuesday, February 6th. The technology company reported $2.57 earnings per share for the quarter, topping analysts’ consensus estimates of $2.47 by $0.10. The firm had revenue of $663.50 million for the quarter, compared to analysts’ expectations 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 was up 3.9% on a year-over-year basis. During the same quarter last year, the business posted $2.23 EPS. On average, research analysts predict that Check Point Software Technologies Ltd. will post 7.85 earnings per share for the current 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.