Kovitz Investment Group Partners LLC Has $347,000 Stake in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Kovitz Investment Group Partners LLC cut its stake in Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 26.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,858 shares of the technology company’s stock after selling 672 shares during the quarter. Kovitz Investment Group Partners LLC’s holdings in Check Point Software Technologies were worth $347,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of CHKP. Norges Bank acquired a new position in Check Point Software Technologies in the fourth quarter valued at about $428,820,000. Causeway Capital Management LLC grew its position in shares of Check Point Software Technologies by 33.8% in the 4th quarter. Causeway Capital Management LLC now owns 1,929,604 shares of the technology company’s stock valued at $360,257,000 after purchasing an additional 487,823 shares during the period. First Trust Advisors LP grew its position in shares of Check Point Software Technologies by 17.4% in the 4th quarter. First Trust Advisors LP now owns 1,822,787 shares of the technology company’s stock valued at $340,314,000 after purchasing an additional 269,925 shares during the period. Geode Capital Management LLC increased its stake in Check Point Software Technologies by 3.3% during the 4th quarter. Geode Capital Management LLC now owns 849,546 shares of the technology company’s stock worth $158,035,000 after purchasing an additional 27,267 shares in the last quarter. Finally, Clearbridge Investments LLC acquired a new stake in Check Point Software Technologies during the 4th quarter worth approximately $100,456,000. 98.51% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on CHKP shares. Bank of America raised shares of Check Point Software Technologies from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $230.00 to $260.00 in a research report on Thursday, March 27th. Cantor Fitzgerald reissued a “neutral” rating and issued a $200.00 price target on shares of Check Point Software Technologies in a research note on Monday, January 27th. Compass Point set a $260.00 price objective on Check Point Software Technologies in a research report on Thursday, March 27th. Wells Fargo & Company dropped their target price on Check Point Software Technologies from $280.00 to $265.00 and set an “overweight” rating on the stock in a research report on Thursday, April 24th. Finally, Wedbush reaffirmed an “outperform” rating and set a $240.00 price target on shares of Check Point Software Technologies in a research report on Thursday, April 24th. Eighteen analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $232.04.

Check Point Software Technologies Price Performance

Shares of Check Point Software Technologies stock opened at $217.55 on Friday. Check Point Software Technologies Ltd. has a 1 year low of $145.75 and a 1 year high of $234.36. The company has a market capitalization of $23.93 billion, a price-to-earnings ratio of 29.12, a P/E/G ratio of 3.41 and a beta of 0.62. The business has a fifty day simple moving average of $220.18 and a two-hundred day simple moving average of $202.30.

Check Point Software Technologies (NASDAQ:CHKP) last announced its earnings results on Wednesday, April 23rd. The technology company reported $2.21 earnings per share for the quarter, topping analysts’ consensus estimates of $2.19 by $0.02. The company had revenue of $637.80 million for the quarter, compared to analyst estimates of $635.80 million. Check Point Software Technologies had a return on equity of 32.40% and a net margin of 32.97%. The firm’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same quarter last year, the company earned $2.04 earnings per share. As a group, equities analysts anticipate that Check Point Software Technologies Ltd. will post 8.61 earnings per share for the current fiscal year.

About Check Point Software Technologies

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.