Massachusetts Financial Services Co. MA Has $1.13 Billion Stock Holdings in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Massachusetts Financial Services Co. MA decreased its stake in Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 6.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,944,107 shares of the technology company’s stock after selling 315,505 shares during the period. Massachusetts Financial Services Co. MA owned 4.50% of Check Point Software Technologies worth $1,126,861,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Nemes Rush Group LLC bought a new position in Check Point Software Technologies in the fourth quarter worth approximately $25,000. Capital A Wealth Management LLC purchased a new stake in shares of Check Point Software Technologies during the fourth quarter valued at approximately $29,000. Cromwell Holdings LLC purchased a new stake in shares of Check Point Software Technologies during the first quarter valued at approximately $37,000. Quarry LP increased its position in shares of Check Point Software Technologies by 100.0% during the fourth quarter. Quarry LP now owns 206 shares of the technology company’s stock valued at $38,000 after acquiring an additional 103 shares during the last quarter. Finally, Abound Financial LLC purchased a new stake in shares of Check Point Software Technologies during the first quarter valued at approximately $40,000. Institutional investors and hedge funds own 98.51% of the company’s stock.

Check Point Software Technologies Stock Performance

NASDAQ CHKP opened at $215.50 on Monday. The company has a market capitalization of $23.70 billion, a PE ratio of 28.43, a price-to-earnings-growth ratio of 3.08 and a beta of 0.64. The business’s fifty day moving average is $222.52 and its 200 day moving average is $215.30. Check Point Software Technologies Ltd. has a fifty-two week low of $169.02 and a fifty-two week high of $234.36.

Check Point Software Technologies (NASDAQ:CHKP) last posted its quarterly 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. The business had revenue of $637.80 million for the quarter, compared to analysts’ expectations of $635.80 million. Check Point Software Technologies had a return on equity of 32.88% and a net margin of 32.75%. The business’s quarterly revenue was up 6.5% on a year-over-year basis. During the same period last year, the firm earned $2.04 earnings per share. On average, sell-side analysts forecast that Check Point Software Technologies Ltd. will post 8.61 EPS for the current year.

Analyst Ratings Changes

A number of brokerages recently commented on CHKP. Scotiabank decreased their price target on Check Point Software Technologies from $250.00 to $240.00 and set a “sector outperform” rating for the company in a research report on Thursday, April 24th. Wells Fargo & Company reduced their price target on Check Point Software Technologies from $280.00 to $265.00 and set an “overweight” rating for the company in a research report on Thursday, April 24th. Bank of America raised Check Point Software Technologies from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $230.00 to $260.00 in a research note on Thursday, March 27th. Roth Capital initiated coverage on Check Point Software Technologies in a research note on Wednesday, April 23rd. They set a “neutral” rating and a $215.00 price objective for the company. Finally, Compass Point set a $260.00 price target on Check Point Software Technologies in a research note on Thursday, March 27th. 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. According to data from MarketBeat, Check Point Software Technologies currently has a consensus rating of “Hold” and an average target price of $233.04.

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.