Gateway Investment Advisers LLC Has $2.54 Million Stake in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Gateway Investment Advisers LLC trimmed its holdings in Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 26.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 11,123 shares of the technology company’s stock after selling 4,031 shares during the period. Gateway Investment Advisers LLC’s holdings in Check Point Software Technologies were worth $2,535,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Nemes Rush Group LLC bought a new stake in shares of Check Point Software Technologies in the fourth quarter valued at about $25,000. Capital A Wealth Management LLC bought a new stake in shares of Check Point Software Technologies in the fourth quarter valued at about $29,000. Golden State Wealth Management LLC bought a new stake in shares of Check Point Software Technologies in the fourth quarter valued at about $35,000. Strategic Financial Concepts LLC bought a new stake in shares of Check Point Software Technologies in the fourth quarter valued at about $35,000. Finally, Quarry LP lifted its holdings in shares of Check Point Software Technologies by 100.0% in the fourth quarter. Quarry LP now owns 206 shares of the technology company’s stock valued at $38,000 after purchasing an additional 103 shares in the last quarter. 98.51% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on CHKP shares. Robert W. Baird upgraded Check Point Software Technologies from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $235.00 to $255.00 in a report on Thursday, February 27th. Baird R W upgraded Check Point Software Technologies from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 27th. Morgan Stanley cut their price target on Check Point Software Technologies from $235.00 to $220.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 16th. Piper Sandler upgraded Check Point Software Technologies from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $220.00 to $260.00 in a report on Monday, March 3rd. Finally, Mizuho upped their target price on Check Point Software Technologies from $220.00 to $230.00 and gave the stock a “neutral” rating in a report on Wednesday, February 26th. Sixteen research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Check Point Software Technologies has a consensus rating of “Hold” and a consensus price target of $232.04.

Check Point Software Technologies Trading Up 1.0%

Check Point Software Technologies stock opened at $233.47 on Monday. Check Point Software Technologies Ltd. has a 12 month low of $152.91 and a 12 month high of $235.75. The stock’s 50 day moving average is $219.21 and its 200-day moving average is $209.13. The company has a market capitalization of $25.68 billion, a price-to-earnings ratio of 31.25, a PEG ratio of 3.41 and a beta of 0.66.

Check Point Software Technologies (NASDAQ:CHKP) last posted its earnings results on Wednesday, April 23rd. The technology company reported $2.21 EPS for the quarter, beating the consensus estimate of $2.19 by $0.02. Check Point Software Technologies had a return on equity of 32.40% and a net margin of 32.97%. The company had revenue of $637.80 million for the quarter, compared to the consensus estimate of $635.80 million. During the same quarter in the prior year, the business earned $2.04 earnings per share. The firm’s revenue for the quarter was up 6.5% on a year-over-year basis. As a group, equities research analysts predict that Check Point Software Technologies Ltd. will post 8.61 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.