Focus Partners Wealth Trims Position in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Focus Partners Wealth cut its holdings in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 1.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 31,305 shares of the technology company’s stock after selling 606 shares during the period. Focus Partners Wealth’s holdings in Check Point Software Technologies were worth $5,851,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Nemes Rush Group LLC purchased a new position in shares of Check Point Software Technologies during the fourth quarter valued at approximately $25,000. GAMMA Investing LLC grew its stake in Check Point Software Technologies by 53.1% in the fourth quarter. GAMMA Investing LLC now owns 173 shares of the technology company’s stock worth $32,000 after purchasing an additional 60 shares during the period. Golden State Wealth Management LLC purchased a new stake in Check Point Software Technologies in the fourth quarter worth $35,000. Quarry LP grew its stake in Check Point Software Technologies by 100.0% in the fourth quarter. Quarry LP now owns 206 shares of the technology company’s stock worth $38,000 after purchasing an additional 103 shares during the period. Finally, Exchange Traded Concepts LLC grew its stake in Check Point Software Technologies by 142.7% in the fourth quarter. Exchange Traded Concepts LLC now owns 233 shares of the technology company’s stock worth $44,000 after purchasing an additional 137 shares during the period. 98.51% of the stock is owned by hedge funds and other institutional investors.

Check Point Software Technologies Stock Performance

CHKP opened at $214.49 on Thursday. The stock has a market capitalization of $23.59 billion, a P/E ratio of 28.71, a P/E/G ratio of 3.41 and a beta of 0.66. The company’s 50-day simple moving average is $219.67 and its two-hundred day simple moving average is $202.99. Check Point Software Technologies Ltd. has a 52-week low of $145.75 and a 52-week high of $234.36.

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

Analyst Ratings Changes

Several brokerages recently weighed in on CHKP. StockNews.com raised Check Point Software Technologies from a “hold” rating to a “buy” rating in a research note on Tuesday. Susquehanna upped their price target on Check Point Software Technologies from $215.00 to $255.00 and gave the stock a “positive” rating in a research note on Friday, January 31st. Citigroup upped their price target on Check Point Software Technologies from $185.00 to $190.00 and gave the stock a “neutral” rating in a research note on Friday, January 17th. Baird R W raised Check Point Software Technologies from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 27th. Finally, Truist Financial reissued a “buy” rating and issued a $250.00 target price (up from $220.00) on shares of Check Point Software Technologies in a report on Friday, January 31st. Sixteen investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $232.04.

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.