Wellington Wealth Strategies LLC. Trims Stock Holdings in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Wellington Wealth Strategies LLC. lessened its stake in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 15.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,507 shares of the technology company’s stock after selling 1,349 shares during the quarter. Check Point Software Technologies accounts for about 1.3% of Wellington Wealth Strategies LLC.’s holdings, making the stock its 28th biggest holding. Wellington Wealth Strategies LLC.’s holdings in Check Point Software Technologies were worth $1,402,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also made changes to their positions in the stock. World Investment Advisors boosted its position in shares of Check Point Software Technologies by 4.4% during the 4th quarter. World Investment Advisors now owns 30,041 shares of the technology company’s stock worth $5,609,000 after purchasing an additional 1,278 shares during the period. Crux Wealth Advisors acquired a new position in Check Point Software Technologies during the fourth quarter worth $542,000. Truist Financial Corp boosted its position in shares of Check Point Software Technologies by 2.6% during the fourth quarter. Truist Financial Corp now owns 119,504 shares of the technology company’s stock worth $22,311,000 after buying an additional 3,080 shares during the period. Vestmark Advisory Solutions Inc. grew its stake in shares of Check Point Software Technologies by 99.3% in the fourth quarter. Vestmark Advisory Solutions Inc. now owns 4,973 shares of the technology company’s stock valued at $928,000 after buying an additional 2,478 shares in the last quarter. Finally, Hickory Asset Management Inc. purchased a new stake in shares of Check Point Software Technologies in the 4th quarter valued at $476,000. 98.51% of the stock is currently owned by institutional investors and hedge funds.

Check Point Software Technologies Price Performance

Check Point Software Technologies stock opened at $218.91 on Tuesday. The stock’s 50 day moving average price is $219.43 and its 200 day moving average price is $204.08. Check Point Software Technologies Ltd. has a 1-year low of $145.75 and a 1-year high of $234.36. The company has a market cap of $24.08 billion, a PE ratio of 29.31, a price-to-earnings-growth ratio of 3.41 and a beta of 0.66.

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

Analyst Ratings Changes

Several equities analysts have weighed in on CHKP shares. Truist Financial reaffirmed a “buy” rating and issued a $250.00 target price (up from $220.00) on shares of Check Point Software Technologies in a research report on Friday, January 31st. Baird R W upgraded shares of Check Point Software Technologies from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 27th. Barclays upped their target price on shares of Check Point Software Technologies from $200.00 to $230.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 30th. Bank of America raised shares of Check Point Software Technologies from a “neutral” rating to a “buy” rating and raised their price target for the company from $230.00 to $260.00 in a research report on Thursday, March 27th. Finally, Stephens cut their price objective on Check Point Software Technologies from $255.00 to $229.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 24th. Sixteen research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $232.04.

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.