Focus Partners Wealth Sells 606 Shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Focus Partners Wealth trimmed its position in Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 1.9% in the 4th quarter, HoldingsChannel reports. The fund owned 31,305 shares of the technology company’s stock after selling 606 shares during the quarter. Focus Partners Wealth’s holdings in Check Point Software Technologies were worth $5,851,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Nemes Rush Group LLC purchased a new stake in Check Point Software Technologies in the 4th quarter worth approximately $25,000. GAMMA Investing LLC increased its holdings in Check Point Software Technologies by 53.1% in the 4th quarter. GAMMA Investing LLC now owns 173 shares of the technology company’s stock worth $32,000 after acquiring an additional 60 shares in the last quarter. Golden State Wealth Management LLC purchased a new stake in Check Point Software Technologies in the 4th quarter worth approximately $35,000. Strategic Financial Concepts LLC purchased a new stake in Check Point Software Technologies in the 4th quarter worth approximately $35,000. Finally, Quarry LP increased its holdings in Check Point Software Technologies by 100.0% in the 4th quarter. Quarry LP now owns 206 shares of the technology company’s stock worth $38,000 after acquiring an additional 103 shares in the last quarter. 98.51% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on CHKP shares. Baird R W raised shares of Check Point Software Technologies from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 27th. Bank of America raised shares of Check Point Software Technologies from a “neutral” rating to a “buy” rating and increased their target price for the stock from $230.00 to $260.00 in a report on Thursday, March 27th. Roth Capital initiated coverage on shares of Check Point Software Technologies in a report on Wednesday, April 23rd. They issued a “neutral” rating and a $215.00 target price for the company. Jefferies Financial Group increased their price objective on shares of Check Point Software Technologies from $250.00 to $255.00 and gave the company a “buy” rating in a report on Thursday, February 27th. Finally, Morgan Stanley cut their price objective on shares of Check Point Software Technologies from $235.00 to $220.00 and set an “equal weight” rating for the company in a report on Wednesday, April 16th. Sixteen research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $232.04.

Check Point Software Technologies Stock Performance

NASDAQ CHKP opened at $214.49 on Thursday. The company has a market capitalization of $23.59 billion, a P/E ratio of 28.71, a P/E/G ratio of 3.41 and a beta of 0.66. Check Point Software Technologies Ltd. has a one year low of $145.75 and a one year high of $234.36. The stock has a 50 day moving average price of $219.67 and a 200-day moving average price of $202.99.

Check Point Software Technologies (NASDAQ:CHKP) last issued its quarterly earnings results on Wednesday, April 23rd. The technology company reported $2.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.19 by $0.02. The company had revenue of $637.80 million during the quarter, compared to the consensus estimate of $635.80 million. Check Point Software Technologies had a return on equity of 32.40% and a net margin of 32.97%. Check Point Software Technologies’s revenue was up 6.5% on a year-over-year basis. During the same period last year, the company earned $2.04 earnings per share. As a group, equities analysts predict that Check Point Software Technologies Ltd. will post 8.61 EPS for the current fiscal year.

Check Point Software Technologies 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.