Van ECK Associates Corp Decreases Stake in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Van ECK Associates Corp decreased its position in Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 1.9% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 45,652 shares of the technology company’s stock after selling 883 shares during the period. Van ECK Associates Corp’s holdings in Check Point Software Technologies were worth $6,975,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Concord Wealth Partners purchased a new stake in shares of Check Point Software Technologies during the 3rd quarter worth approximately $25,000. CNB Bank purchased a new stake in shares of Check Point Software Technologies during the 3rd quarter worth approximately $27,000. Bruce G. Allen Investments LLC purchased a new stake in shares of Check Point Software Technologies during the 4th quarter worth approximately $30,000. Salem Investment Counselors Inc. increased its stake in shares of Check Point Software Technologies by 483.7% during the 4th quarter. Salem Investment Counselors Inc. now owns 286 shares of the technology company’s stock worth $44,000 after purchasing an additional 237 shares during the last quarter. Finally, Y.D. More Investments Ltd purchased a new stake in shares of Check Point Software Technologies during the 3rd quarter worth approximately $49,000. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Check Point Software Technologies Price Performance

Shares of NASDAQ:CHKP opened at $151.20 on Friday. The firm has a fifty day moving average price of $160.69 and a two-hundred day moving average price of $153.30. Check Point Software Technologies Ltd. has a one year low of $118.21 and a one year high of $168.82. The company has a market cap of $18.26 billion, a price-to-earnings ratio of 21.00, a PEG ratio of 2.42 and a beta of 0.64.

Check Point Software Technologies (NASDAQ:CHKP) last announced its quarterly earnings results on Thursday, April 25th. The technology company reported $1.72 EPS for the quarter, meeting the consensus estimate of $1.72. The firm had revenue of $598.80 million during the quarter, compared to the consensus estimate of $595.28 million. Check Point Software Technologies had a net margin of 34.33% and a return on equity of 31.42%. Equities research analysts expect that Check Point Software Technologies Ltd. will post 7.79 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on CHKP shares. UBS Group raised their price target on shares of Check Point Software Technologies from $140.00 to $170.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 10th. Mizuho restated a “neutral” rating and set a $160.00 price target on shares of Check Point Software Technologies in a research note on Wednesday, March 27th. William Blair upgraded shares of Check Point Software Technologies from a “market perform” rating to an “outperform” rating in a research note on Wednesday, January 31st. Needham & Company LLC reaffirmed a “hold” rating on shares of Check Point Software Technologies in a report on Friday, April 26th. Finally, Truist Financial raised their price objective on shares of Check Point Software Technologies from $170.00 to $175.00 and gave the stock a “buy” rating in a report on Wednesday, February 7th. Twelve analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $169.18.

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.