Check Point Software Technologies Ltd. (NASDAQ:CHKP) Stake Cut by Monarch Capital Management Inc.

Monarch Capital Management Inc. decreased its holdings in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 5.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,619 shares of the technology company’s stock after selling 140 shares during the period. Monarch Capital Management Inc.’s holdings in Check Point Software Technologies were worth $597,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Nemes Rush Group LLC bought a new position in Check Point Software Technologies during the 4th quarter worth $25,000. Capital A Wealth Management LLC acquired a new position in shares of Check Point Software Technologies during the fourth quarter valued at $29,000. Golden State Wealth Management LLC acquired a new position in shares of Check Point Software Technologies during the fourth quarter valued at $35,000. Strategic Financial Concepts LLC bought a new position in shares of Check Point Software Technologies during the fourth quarter worth about $35,000. Finally, Quarry LP increased its holdings in shares of 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 during the period. 98.51% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Piper Sandler upgraded shares of Check Point Software Technologies from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $220.00 to $260.00 in a research report on Monday, March 3rd. Mizuho increased their price objective on Check Point Software Technologies from $220.00 to $230.00 and gave the stock a “neutral” rating in a report on Wednesday, February 26th. JPMorgan Chase & Co. upgraded Check Point Software Technologies from a “neutral” rating to an “overweight” rating and raised their target price for the company from $221.00 to $255.00 in a research report on Wednesday, February 26th. Wedbush reaffirmed an “outperform” rating and set a $240.00 target price on shares of Check Point Software Technologies in a research note on Thursday, April 24th. Finally, Robert W. Baird raised Check Point Software Technologies from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $235.00 to $255.00 in a research note on Thursday, February 27th. Sixteen research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $232.04.

Check Point Software Technologies Stock Performance

Shares of NASDAQ:CHKP opened at $229.65 on Wednesday. The firm has a 50 day simple moving average of $219.32 and a 200 day simple moving average of $209.59. Check Point Software Technologies Ltd. has a 52 week low of $153.88 and a 52 week high of $234.36. The company has a market cap of $25.26 billion, a PE ratio of 30.74, 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 earnings per share (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 analyst estimates of $635.80 million. During the same quarter in the prior year, the company earned $2.04 earnings per share. The company’s revenue for the quarter was up 6.5% on a year-over-year basis. On average, equities analysts predict that Check Point Software Technologies Ltd. will post 8.61 earnings per share for the current 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.