Louisbourg Investments Inc. Decreases Stock Position in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Louisbourg Investments Inc. cut its stake in Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 24.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 611 shares of the technology company’s stock after selling 194 shares during the period. Louisbourg Investments Inc.’s holdings in Check Point Software Technologies were worth $139,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CHKP. Nemes Rush Group LLC purchased a new position in Check Point Software Technologies in the fourth quarter valued at $25,000. Capital A Wealth Management LLC purchased a new position in Check Point Software Technologies in the fourth quarter valued at $29,000. Strategic Financial Concepts LLC purchased a new position in Check Point Software Technologies in the fourth quarter valued at $35,000. Quarry LP boosted its holdings in Check Point Software Technologies by 100.0% in the fourth quarter. Quarry LP now owns 206 shares of the technology company’s stock valued at $38,000 after purchasing an additional 103 shares during the period. Finally, Menard Financial Group LLC purchased a new position in Check Point Software Technologies in the fourth quarter valued at $41,000. 98.51% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on CHKP shares. Robert W. Baird raised Check Point Software Technologies from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $235.00 to $255.00 in a report on Thursday, February 27th. Bank of America raised Check Point Software Technologies from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $230.00 to $260.00 in a report on Thursday, March 27th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $215.00 price target on shares of Check Point Software Technologies in a report on Thursday, February 27th. Roth Capital started 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, Piper Sandler raised Check Point Software Technologies from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $220.00 to $260.00 in a report on Monday, March 3rd. Sixteen equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $232.44.

Check Point Software Technologies Trading Up 1.0%

Shares of CHKP opened at $221.22 on Tuesday. The firm has a market capitalization of $24.33 billion, a P/E ratio of 29.61, a price-to-earnings-growth ratio of 3.41 and a beta of 0.66. The stock’s fifty day simple moving average is $220.12 and its 200 day simple moving average is $210.89. Check Point Software Technologies Ltd. has a twelve month low of $153.88 and a twelve month high of $234.36.

Check Point Software Technologies (NASDAQ:CHKP) last announced its quarterly earnings results on Wednesday, April 23rd. The technology company reported $2.21 earnings per share (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 firm had revenue of $637.80 million during the quarter, compared to the consensus estimate of $635.80 million. During the same period in the prior year, the firm earned $2.04 EPS. The firm’s quarterly revenue was up 6.5% compared to the same quarter last year. Sell-side analysts predict that Check Point Software Technologies Ltd. will post 8.61 earnings per share for the current year.

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.