Parsons Capital Management Inc. RI Sells 188 Shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Parsons Capital Management Inc. RI lessened its holdings in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 8.9% during the 1st quarter, Holdings Channel reports. The firm owned 1,917 shares of the technology company’s stock after selling 188 shares during the period. Parsons Capital Management Inc. RI’s holdings in Check Point Software Technologies were worth $437,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Gitterman Wealth Management LLC raised its stake in Check Point Software Technologies by 3.2% during the 4th quarter. Gitterman Wealth Management LLC now owns 1,533 shares of the technology company’s stock valued at $286,000 after purchasing an additional 48 shares during the period. TD Waterhouse Canada Inc. increased its stake in Check Point Software Technologies by 1.7% in the 4th quarter. TD Waterhouse Canada Inc. now owns 3,095 shares of the technology company’s stock worth $578,000 after acquiring an additional 52 shares during the last quarter. MassMutual Private Wealth & Trust FSB increased its stake in Check Point Software Technologies by 19.6% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 336 shares of the technology company’s stock worth $77,000 after acquiring an additional 55 shares during the last quarter. Argonautica Private Wealth Management Inc. increased its stake in Check Point Software Technologies by 0.9% in the 4th quarter. Argonautica Private Wealth Management Inc. now owns 6,002 shares of the technology company’s stock worth $1,121,000 after acquiring an additional 56 shares during the last quarter. Finally, Kingsview Wealth Management LLC increased its stake in Check Point Software Technologies by 3.1% in the 4th quarter. Kingsview Wealth Management LLC now owns 1,891 shares of the technology company’s stock worth $353,000 after acquiring an additional 57 shares during the last quarter. Institutional investors own 98.51% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on CHKP. Jefferies Financial Group lifted their price objective on Check Point Software Technologies from $250.00 to $255.00 and gave the stock a “buy” rating in a research note on Thursday, February 27th. Robert W. Baird raised Check Point Software Technologies from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $235.00 to $255.00 in a research report on Thursday, February 27th. Wall Street Zen raised Check Point Software Technologies from a “hold” rating to a “buy” rating in a research report on Tuesday, May 13th. Needham & Company LLC reissued a “hold” rating on shares of Check Point Software Technologies in a research report on Thursday, February 27th. Finally, Wedbush reissued an “outperform” rating and set a $240.00 target price on shares of Check Point Software Technologies in a research report on Thursday, April 24th. Sixteen research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $232.04.

Check Point Software Technologies Trading Down 3.0%

Shares of CHKP stock opened at $222.67 on Thursday. Check Point Software Technologies Ltd. has a twelve month low of $153.88 and a twelve month high of $234.36. The stock has a market capitalization of $24.49 billion, a price-to-earnings ratio of 29.81, a P/E/G ratio of 3.41 and a beta of 0.66. The stock has a fifty day simple moving average of $219.47 and a two-hundred day simple moving average of $209.68.

Check Point Software Technologies (NASDAQ:CHKP) last issued its earnings results on Wednesday, April 23rd. The technology company reported $2.21 earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $637.80 million during the quarter, compared to analysts’ expectations of $635.80 million. During the same period in the prior year, the business earned $2.04 EPS. The business’s revenue for the quarter was up 6.5% compared to the same quarter last year. Research analysts predict that Check Point Software Technologies Ltd. will post 8.61 EPS for the current fiscal year.

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.