MQS Management LLC Decreases Stock Holdings in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

MQS Management LLC reduced its holdings in Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 56.8% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 1,625 shares of the technology company’s stock after selling 2,138 shares during the period. MQS Management LLC’s holdings in Check Point Software Technologies were worth $267,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Morningstar Investment Services LLC boosted its stake in Check Point Software Technologies by 98.5% during the fourth quarter. Morningstar Investment Services LLC now owns 970,634 shares of the technology company’s stock worth $148,080,000 after buying an additional 481,626 shares during the period. Boston Trust Walden Corp boosted its stake in shares of Check Point Software Technologies by 248.8% during the 4th quarter. Boston Trust Walden Corp now owns 306,201 shares of the technology company’s stock worth $46,784,000 after purchasing an additional 218,403 shares during the period. Norges Bank bought a new position in Check Point Software Technologies during the 4th quarter valued at about $29,801,000. Boston Partners lifted its stake in Check Point Software Technologies by 5.0% in the fourth quarter. Boston Partners now owns 3,204,519 shares of the technology company’s stock worth $489,700,000 after purchasing an additional 151,657 shares during the last quarter. Finally, Bessemer Group Inc. boosted its position in shares of Check Point Software Technologies by 2,173.6% during the first quarter. Bessemer Group Inc. now owns 124,024 shares of the technology company’s stock valued at $20,342,000 after buying an additional 118,569 shares during the period. 87.62% of the stock is currently owned by institutional investors.

Check Point Software Technologies Price Performance

CHKP traded up $0.80 on Friday, reaching $181.97. 138,986 shares of the company’s stock were exchanged, compared to its average volume of 709,768. The stock has a market cap of $20.55 billion, a PE ratio of 25.16, a P/E/G ratio of 2.84 and a beta of 0.62. Check Point Software Technologies Ltd. has a twelve month low of $125.68 and a twelve month high of $184.67. The stock’s fifty day moving average price is $161.23 and its 200-day moving average price is $160.01.

Check Point Software Technologies (NASDAQ:CHKP) last issued its earnings results on Wednesday, July 24th. The technology company reported $2.17 EPS for the quarter, topping analysts’ consensus estimates of $2.16 by $0.01. Check Point Software Technologies had a net margin of 33.61% and a return on equity of 31.70%. The company had revenue of $627.40 million for the quarter, compared to the consensus estimate of $623.19 million. During the same period in the previous year, the firm earned $1.74 earnings per share. Check Point Software Technologies’s quarterly revenue was up 6.6% compared to the same quarter last year. As a group, research analysts predict that Check Point Software Technologies Ltd. will post 7.79 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on CHKP. Robert W. Baird raised their price target on Check Point Software Technologies from $168.00 to $200.00 and gave the stock a “neutral” rating in a research note on Thursday. Barclays lifted their target price on Check Point Software Technologies from $175.00 to $192.00 and gave the stock an “equal weight” rating in a research report on Thursday. Scotiabank upped their price target on shares of Check Point Software Technologies from $180.00 to $200.00 and gave the stock a “sector outperform” rating in a report on Thursday. Needham & Company LLC reissued a “hold” rating on shares of Check Point Software Technologies in a research report on Thursday. Finally, Truist Financial reaffirmed a “buy” rating and set a $200.00 target price (up from $175.00) on shares of Check Point Software Technologies in a research report on Thursday. Fifteen equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, Check Point Software Technologies presently has a consensus rating of “Hold” and an average target price of $183.68.

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.