Meitav Investment House Ltd. Reduces Stock Position in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Meitav Investment House Ltd. cut its position in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 86.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 16,637 shares of the technology company’s stock after selling 108,613 shares during the quarter. Meitav Investment House Ltd.’s holdings in Check Point Software Technologies were worth $2,540,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of CHKP. Arrowstreet Capital Limited Partnership grew its stake in Check Point Software Technologies by 138.9% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,505,958 shares of the technology company’s stock worth $195,775,000 after acquiring an additional 875,580 shares during the period. Norges Bank acquired a new position in Check Point Software Technologies in the fourth quarter valued at $80,456,000. Ariel Investments LLC boosted its stake in Check Point Software Technologies by 121.2% in the 3rd quarter. Ariel Investments LLC now owns 1,083,364 shares of the technology company’s stock worth $144,391,000 after buying an additional 593,623 shares during the last quarter. Morningstar Investment Services LLC purchased a new stake in Check Point Software Technologies in the 3rd quarter valued at about $65,522,000. Finally, LSV Asset Management increased its stake in shares of Check Point Software Technologies by 1,535.7% during the 3rd quarter. LSV Asset Management now owns 413,835 shares of the technology company’s stock valued at $55,156,000 after acquiring an additional 388,535 shares during the last quarter. Institutional investors and hedge funds own 87.62% of the company’s stock.

Check Point Software Technologies Trading Down 0.3 %

NASDAQ CHKP traded down $0.56 during mid-day trading on Friday, reaching $162.58. 153,355 shares of the company’s stock traded hands, compared to its average volume of 708,168. Check Point Software Technologies Ltd. has a 1-year low of $117.18 and a 1-year high of $168.82. The company has a fifty day simple moving average of $162.63 and a 200-day simple moving average of $151.09. The company has a market cap of $19.63 billion, a price-to-earnings ratio of 22.82, a P/E/G ratio of 2.67 and a beta of 0.61.

Check Point Software Technologies (NASDAQ:CHKP) last issued its quarterly earnings results on Tuesday, February 6th. The technology company reported $2.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.47 by $0.10. Check Point Software Technologies had a net margin of 34.80% and a return on equity of 30.81%. The business had revenue of $663.50 million during the quarter, compared to analyst estimates of $662.09 million. During the same quarter in the previous year, the firm earned $2.23 earnings per share. The business’s revenue was up 3.9% compared to the same quarter last year. Equities research analysts forecast that Check Point Software Technologies Ltd. will post 7.85 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on CHKP shares. Royal Bank of Canada increased their price target on shares of Check Point Software Technologies from $159.00 to $165.00 and gave the stock a “sector perform” rating in a research note on Wednesday, February 7th. TD Cowen increased their target price on Check Point Software Technologies from $180.00 to $205.00 and gave the stock an “outperform” rating in a research report on Monday, March 18th. Susquehanna boosted their price target on Check Point Software Technologies from $190.00 to $200.00 and gave the company a “positive” rating in a research report on Wednesday, February 7th. Citigroup raised their price objective on Check Point Software Technologies from $140.00 to $155.00 and gave the stock a “neutral” rating in a report on Wednesday, January 10th. Finally, Wedbush reiterated an “outperform” rating and set a $185.00 target price on shares of Check Point Software Technologies in a report on Wednesday. Thirteen investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $159.70.

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.