Illinois Municipal Retirement Fund Lowers Holdings in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Illinois Municipal Retirement Fund trimmed its position in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 61.5% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 15,368 shares of the technology company’s stock after selling 24,547 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Check Point Software Technologies were worth $2,869,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Bank of Montreal Can increased its position in shares of Check Point Software Technologies by 32.2% during the third quarter. Bank of Montreal Can now owns 85,639 shares of the technology company’s stock valued at $16,532,000 after acquiring an additional 20,866 shares in the last quarter. CWA Asset Management Group LLC purchased a new stake in Check Point Software Technologies during the 3rd quarter valued at $1,599,000. Truist Financial Corp increased its holdings in shares of Check Point Software Technologies by 2.6% in the 4th quarter. Truist Financial Corp now owns 119,504 shares of the technology company’s stock worth $22,311,000 after purchasing an additional 3,080 shares in the last quarter. MML Investors Services LLC raised its stake in shares of Check Point Software Technologies by 3.7% in the third quarter. MML Investors Services LLC now owns 103,507 shares of the technology company’s stock worth $19,957,000 after purchasing an additional 3,655 shares during the last quarter. Finally, CIBC Asset Management Inc lifted its holdings in shares of Check Point Software Technologies by 14.5% during the fourth quarter. CIBC Asset Management Inc now owns 9,589 shares of the technology company’s stock valued at $1,790,000 after purchasing an additional 1,215 shares in the last quarter. 98.51% of the stock is currently owned by institutional investors.

Check Point Software Technologies Price Performance

Shares of CHKP stock opened at $216.69 on Friday. Check Point Software Technologies Ltd. has a one year low of $145.75 and a one year high of $226.02. The company’s fifty day moving average price is $200.74 and its 200-day moving average price is $193.03. The company has a market capitalization of $23.83 billion, a price-to-earnings ratio of 29.01, a PEG ratio of 3.41 and a beta of 0.65.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. The Goldman Sachs Group lowered Check Point Software Technologies from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $204.00 to $207.00 in a research report on Thursday, January 2nd. Guggenheim restated a “neutral” rating on shares of Check Point Software Technologies in a research report on Friday, January 31st. Scotiabank raised their target price on shares of Check Point Software Technologies from $215.00 to $250.00 and gave the stock a “sector outperform” rating in a report on Friday, January 31st. Jefferies Financial Group boosted their target price on shares of Check Point Software Technologies from $250.00 to $255.00 and gave the company a “buy” rating in a research note on Thursday. Finally, UBS Group raised their price target on Check Point Software Technologies from $200.00 to $230.00 and gave the stock a “neutral” rating in a research note on Friday, January 31st. Eighteen analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $221.91.

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.