Ninety One UK Ltd Cuts Stock Holdings in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Ninety One UK Ltd trimmed its holdings in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 0.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,582,189 shares of the technology company’s stock after selling 5,611 shares during the period. Check Point Software Technologies comprises approximately 1.6% of Ninety One UK Ltd’s portfolio, making the stock its 19th largest position. Ninety One UK Ltd’s holdings in Check Point Software Technologies were worth $547,323,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in CHKP. Private Advisor Group LLC boosted its holdings in shares of Check Point Software Technologies by 40.4% during the first quarter. Private Advisor Group LLC now owns 3,555 shares of the technology company’s stock worth $492,000 after purchasing an additional 1,023 shares during the period. Yousif Capital Management LLC lifted its holdings in Check Point Software Technologies by 7.7% in the first quarter. Yousif Capital Management LLC now owns 6,814 shares of the technology company’s stock worth $942,000 after buying an additional 485 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its position in Check Point Software Technologies by 12.1% during the 1st quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 3,715 shares of the technology company’s stock valued at $514,000 after acquiring an additional 400 shares in the last quarter. Synovus Financial Corp bought a new stake in Check Point Software Technologies during the 1st quarter valued at approximately $210,000. Finally, Cibc World Market Inc. bought a new stake in Check Point Software Technologies during the 1st quarter valued at approximately $3,511,000. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on CHKP. Citigroup lifted their price objective on Check Point Software Technologies from $140.00 to $155.00 and gave the company a “neutral” rating in a research report on Wednesday, January 10th. William Blair raised Check Point Software Technologies from a “market perform” rating to an “outperform” rating in a research report on Wednesday, January 31st. Royal Bank of Canada lifted their price objective on Check Point Software Technologies from $159.00 to $165.00 and gave the company a “sector perform” rating in a research report on Wednesday, February 7th. UBS Group lifted their price objective on Check Point Software Technologies from $140.00 to $170.00 and gave the company a “neutral” rating in a research report on Wednesday, January 10th. Finally, Scotiabank lifted their price objective on Check Point Software Technologies from $170.00 to $180.00 and gave the company a “sector outperform” rating in a research report on Wednesday, February 7th. Thirteen equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $160.16.

Check Point Software Technologies Stock Up 0.4 %

CHKP traded up $0.70 during mid-day trading on Thursday, reaching $158.79. 348,870 shares of the company traded hands, compared to its average volume of 705,856. The stock has a market capitalization of $19.18 billion, a P/E ratio of 22.20, a P/E/G ratio of 2.54 and a beta of 0.61. The company’s fifty day moving average price is $162.32 and its 200-day moving average price is $151.90. Check Point Software Technologies Ltd. has a 52-week low of $117.18 and a 52-week high of $168.82.

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