CANADA LIFE ASSURANCE Co Reduces Stock Position in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

CANADA LIFE ASSURANCE Co decreased its position in Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 15.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 236,857 shares of the technology company’s stock after selling 41,993 shares during the quarter. CANADA LIFE ASSURANCE Co owned approximately 0.22% of Check Point Software Technologies worth $44,198,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of CHKP. Norges Bank purchased a new stake in shares of Check Point Software Technologies in the 4th quarter worth about $428,820,000. Causeway Capital Management LLC raised its stake in Check Point Software Technologies by 33.8% in the fourth quarter. Causeway Capital Management LLC now owns 1,929,604 shares of the technology company’s stock worth $360,257,000 after buying an additional 487,823 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Check Point Software Technologies by 3.3% in the fourth quarter. Geode Capital Management LLC now owns 849,546 shares of the technology company’s stock worth $158,035,000 after buying an additional 27,267 shares during the period. Clearbridge Investments LLC bought a new stake in Check Point Software Technologies during the 4th quarter valued at approximately $100,456,000. Finally, Sei Investments Co. grew its holdings in shares of Check Point Software Technologies by 6.0% during the 4th quarter. Sei Investments Co. now owns 504,977 shares of the technology company’s stock worth $94,279,000 after acquiring an additional 28,763 shares during the period. 98.51% of the stock is owned by institutional investors.

Analyst Ratings Changes

CHKP has been the topic of several research reports. Robert W. Baird upgraded Check Point Software Technologies from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $235.00 to $255.00 in a research report on Thursday, February 27th. Compass Point set a $260.00 target price on shares of Check Point Software Technologies in a research report on Thursday, March 27th. Stephens started coverage on shares of Check Point Software Technologies in a research report on Tuesday, April 1st. They set an “equal weight” rating and a $255.00 price target for the company. JPMorgan Chase & Co. raised shares of Check Point Software Technologies from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $221.00 to $255.00 in a research note on Wednesday, February 26th. Finally, UBS Group raised their target price on shares of Check Point Software Technologies from $200.00 to $230.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. Fifteen research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Check Point Software Technologies presently has an average rating of “Moderate Buy” and an average price target of $235.50.

Check Point Software Technologies Price Performance

CHKP stock opened at $214.96 on Friday. The company has a market cap of $23.64 billion, a P/E ratio of 28.78, a price-to-earnings-growth ratio of 3.41 and a beta of 0.62. Check Point Software Technologies Ltd. has a 1 year low of $145.75 and a 1 year high of $234.36. The stock’s fifty day moving average price is $221.71 and its 200-day moving average price is $201.50.

About Check Point Software Technologies

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.