Handelsbanken Fonder AB Decreases Stake in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Handelsbanken Fonder AB cut its holdings in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 6.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 21,914 shares of the technology company’s stock after selling 1,393 shares during the quarter. Handelsbanken Fonder AB’s holdings in Check Point Software Technologies were worth $4,995,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of CHKP. World Investment Advisors increased its holdings in shares of Check Point Software Technologies by 4.4% during the 4th quarter. World Investment Advisors now owns 30,041 shares of the technology company’s stock valued at $5,609,000 after purchasing an additional 1,278 shares in the last quarter. Contravisory Investment Management Inc. purchased a new stake in shares of Check Point Software Technologies in the first quarter valued at about $1,057,000. Crux Wealth Advisors purchased a new stake in shares of Check Point Software Technologies in the fourth quarter valued at about $542,000. Truist Financial Corp grew its holdings in shares of Check Point Software Technologies by 2.6% in the fourth quarter. Truist Financial Corp now owns 119,504 shares of the technology company’s stock valued at $22,311,000 after purchasing an additional 3,080 shares during the period. Finally, Vestmark Advisory Solutions Inc. lifted its position in Check Point Software Technologies by 99.3% in the fourth quarter. Vestmark Advisory Solutions Inc. now owns 4,973 shares of the technology company’s stock valued at $928,000 after buying an additional 2,478 shares during the last quarter. 98.51% of the stock is owned by hedge funds and other institutional investors.

Check Point Software Technologies Trading Down 1.8%

Check Point Software Technologies stock opened at $218.93 on Friday. The stock has a market cap of $24.08 billion, a PE ratio of 29.31, a P/E/G ratio of 3.41 and a beta of 0.66. The stock has a 50-day moving average price of $219.86 and a 200 day moving average price of $210.21. Check Point Software Technologies Ltd. has a 52 week low of $153.88 and a 52 week high of $234.36.

Check Point Software Technologies (NASDAQ:CHKP) last posted its quarterly 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 during the quarter, compared to analysts’ expectations of $635.80 million. During the same quarter in the previous year, the business earned $2.04 EPS. The firm’s revenue was up 6.5% on a year-over-year basis. On average, equities analysts predict that Check Point Software Technologies Ltd. will post 8.61 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have commented on CHKP. Piper Sandler raised shares of Check Point Software Technologies from a “neutral” rating to an “overweight” rating and upped their target price for the company from $220.00 to $260.00 in a research report on Monday, March 3rd. Needham & Company LLC reiterated a “hold” rating on shares of Check Point Software Technologies in a research note on Thursday, February 27th. Stephens lowered their target price on shares of Check Point Software Technologies from $255.00 to $229.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 24th. Roth Capital initiated coverage on Check Point Software Technologies in a report on Wednesday, April 23rd. They set a “neutral” rating and a $215.00 price target for the company. Finally, JPMorgan Chase & Co. raised Check Point Software Technologies from a “neutral” rating to an “overweight” rating and raised their target price for the company from $221.00 to $255.00 in a report on Wednesday, February 26th. Sixteen analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Check Point Software Technologies currently has a consensus rating of “Hold” and an average target price of $232.04.

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.