Harel Insurance Investments & Financial Services Ltd. Decreases Stock Holdings in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Harel Insurance Investments & Financial Services Ltd. trimmed its stake in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 16.5% in the 4th quarter, Holdings Channel reports. The firm owned 1,483 shares of the technology company’s stock after selling 294 shares during the period. Harel Insurance Investments & Financial Services Ltd.’s holdings in Check Point Software Technologies were worth $227,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in CHKP. Arrowstreet Capital Limited Partnership raised its holdings in shares of Check Point Software Technologies by 138.9% during the first quarter. Arrowstreet Capital Limited Partnership now owns 1,505,958 shares of the technology company’s stock valued at $195,775,000 after purchasing an additional 875,580 shares during the last quarter. Norges Bank purchased a new stake in Check Point Software Technologies during the fourth quarter valued at approximately $80,456,000. Ariel Investments LLC increased its holdings in Check Point Software Technologies by 121.2% during the third quarter. Ariel Investments LLC now owns 1,083,364 shares of the technology company’s stock valued at $144,391,000 after buying an additional 593,623 shares during the last quarter. Morningstar Investment Services LLC purchased a new stake in Check Point Software Technologies during the third quarter valued at approximately $65,522,000. Finally, LSV Asset Management increased its holdings in Check Point Software Technologies by 1,535.7% during the third quarter. LSV Asset Management now owns 413,835 shares of the technology company’s stock valued at $55,156,000 after buying an additional 388,535 shares during the last quarter. 87.62% of the stock is owned by hedge funds and other institutional investors.

Check Point Software Technologies Stock Down 2.5 %

CHKP stock opened at $157.63 on Tuesday. The firm has a 50 day moving average of $162.56 and a 200 day moving average of $151.69. The stock has a market capitalization of $19.04 billion, a PE ratio of 22.14, a price-to-earnings-growth ratio of 2.62 and a beta of 0.61. Check Point Software Technologies Ltd. has a 52 week low of $117.18 and a 52 week high of $168.82.

Check Point Software Technologies (NASDAQ:CHKP) last released its earnings results on Tuesday, February 6th. The technology company reported $2.57 EPS for the quarter, topping analysts’ consensus estimates of $2.47 by $0.10. The company had revenue of $663.50 million during the quarter, compared to analysts’ expectations of $662.09 million. Check Point Software Technologies had a net margin of 34.80% and a return on equity of 30.81%. Check Point Software Technologies’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same period last year, the business earned $2.23 EPS. On average, equities research analysts expect that Check Point Software Technologies Ltd. will post 7.85 earnings per share for the current year.

Analyst Ratings Changes

CHKP has been the subject of a number of research reports. Wedbush reaffirmed an “outperform” rating and set a $185.00 target price on shares of Check Point Software Technologies in a report on Wednesday, April 10th. Scotiabank increased their price objective on shares of Check Point Software Technologies from $170.00 to $180.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, February 7th. Royal Bank of Canada increased their price objective on shares of Check Point Software Technologies from $159.00 to $165.00 and gave the stock a “sector perform” rating in a research note on Wednesday, February 7th. UBS Group upped their target price on shares of Check Point Software Technologies from $140.00 to $170.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 10th. Finally, 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. Thirteen research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $159.70.

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.