Cwm LLC Trims Stake in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Cwm LLC reduced its holdings in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 5.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 51,038 shares of the technology company’s stock after selling 2,897 shares during the period. Cwm LLC’s holdings in Check Point Software Technologies were worth $7,798,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Acadian Asset Management LLC boosted its position in shares of Check Point Software Technologies by 1.6% in the third quarter. Acadian Asset Management LLC now owns 4,348,630 shares of the technology company’s stock worth $579,517,000 after purchasing an additional 69,441 shares during the period. Nordea Investment Management AB boosted its position in shares of Check Point Software Technologies by 0.3% in the third quarter. Nordea Investment Management AB now owns 2,727,583 shares of the technology company’s stock worth $365,851,000 after purchasing an additional 7,493 shares during the period. Legal & General Group Plc boosted its position in shares of Check Point Software Technologies by 3.4% in the third quarter. Legal & General Group Plc now owns 1,626,814 shares of the technology company’s stock worth $216,822,000 after purchasing an additional 52,863 shares during the period. Ariel Investments LLC boosted its position in shares of Check Point Software Technologies by 121.2% in the third quarter. Ariel Investments LLC now owns 1,083,364 shares of the technology company’s stock worth $144,391,000 after purchasing an additional 593,623 shares during the period. Finally, Northern Trust Corp boosted its position in shares of Check Point Software Technologies by 14.6% in the third quarter. Northern Trust Corp now owns 792,699 shares of the technology company’s stock worth $105,651,000 after purchasing an additional 101,019 shares during the period. 87.62% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CHKP has been the subject of a number of recent analyst reports. William Blair upgraded shares of Check Point Software Technologies from a “market perform” rating to an “outperform” rating in a research report on Wednesday, January 31st. Susquehanna upped their target price on shares of Check Point Software Technologies from $190.00 to $200.00 and gave the stock a “positive” rating in a research report on Wednesday, February 7th. Mizuho restated a “neutral” rating and set a $160.00 target price on shares of Check Point Software Technologies in a research report on Wednesday, March 27th. Royal Bank of Canada upped their target price on shares of Check Point Software Technologies from $159.00 to $165.00 and gave the stock a “sector perform” rating in a research report on Wednesday, February 7th. Finally, BMO Capital Markets upped their target price on shares of Check Point Software Technologies from $175.00 to $185.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 7th. Thirteen analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $160.16.

Check Point Software Technologies Trading Up 0.5 %

Shares of CHKP opened at $158.79 on Tuesday. Check Point Software Technologies Ltd. has a twelve month low of $117.18 and a twelve month high of $168.82. The company has a market cap of $19.18 billion, a P/E ratio of 22.30, a P/E/G ratio of 2.56 and a beta of 0.61. The company’s fifty day simple moving average is $162.02 and its 200-day simple moving average is $152.55.

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