Ninety One UK Ltd Sells 101,582 Shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP)
Ninety One UK Ltd trimmed its holdings in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP – Get Rating) by 2.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,697,709 shares of the technology company’s stock after selling 101,582 shares during the period. Check Point Software Technologies comprises approximately 1.5% of Ninety One UK Ltd’s investment portfolio, making the stock its 21st largest holding. Ninety One UK Ltd owned 2.95% of Check Point Software Technologies worth $466,503,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Massachusetts Financial Services Co. MA boosted its stake in Check Point Software Technologies by 20.2% in the third quarter. Massachusetts Financial Services Co. MA now owns 7,631,197 shares of the technology company’s stock valued at $854,846,000 after acquiring an additional 1,280,868 shares during the last quarter. Boston Partners increased its position in Check Point Software Technologies by 5.9% in the third quarter. Boston Partners now owns 2,486,020 shares of the technology company’s stock worth $278,811,000 after buying an additional 138,970 shares during the last quarter. Robeco Institutional Asset Management B.V. bought a new stake in shares of Check Point Software Technologies in the fourth quarter valued at $202,767,000. First Trust Advisors LP lifted its position in shares of Check Point Software Technologies by 0.6% during the 3rd quarter. First Trust Advisors LP now owns 1,437,802 shares of the technology company’s stock valued at $161,062,000 after buying an additional 7,908 shares during the last quarter. Finally, Ion Asset Management Ltd. grew its stake in shares of Check Point Software Technologies by 5.2% during the 3rd quarter. Ion Asset Management Ltd. now owns 1,178,291 shares of the technology company’s stock worth $131,992,000 after acquiring an additional 58,142 shares during the period. 64.76% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of brokerages recently issued reports on CHKP. The Goldman Sachs Group initiated coverage on shares of Check Point Software Technologies in a report on Tuesday, February 14th. They set a “buy” rating and a $148.00 price objective on the stock. Sumitomo Mitsui Financial Group downgraded shares of Check Point Software Technologies from a “neutral” rating to an “underperform” rating and cut their price objective for the stock from $125.00 to $120.00 in a report on Thursday, February 16th. Piper Sandler boosted their target price on shares of Check Point Software Technologies from $125.00 to $130.00 in a report on Thursday, January 5th. William Blair reaffirmed a “market perform” rating on shares of Check Point Software Technologies in a report on Monday, February 13th. Finally, OTR Global upgraded Check Point Software Technologies from a “mixed” rating to a “positive” rating in a research note on Wednesday, April 12th. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $137.19.
Check Point Software Technologies Price Performance
NASDAQ CHKP traded down $1.16 during trading on Friday, hitting $126.91. 505,506 shares of the company’s stock traded hands, compared to its average volume of 810,056. The firm has a market cap of $15.92 billion, a P/E ratio of 20.23, a PEG ratio of 2.47 and a beta of 0.69. The stock has a fifty day moving average of $128.27 and a two-hundred day moving average of $127.13. Check Point Software Technologies Ltd. has a 12-month low of $107.54 and a 12-month high of $135.93.
Check Point Software Technologies (NASDAQ:CHKP – Get Rating) last issued its earnings results on Monday, February 13th. The technology company reported $2.45 earnings per share for the quarter, beating the consensus estimate of $2.36 by $0.09. Check Point Software Technologies had a return on equity of 27.22% and a net margin of 34.20%. The company had revenue of $638.50 million during the quarter, compared to analysts’ expectations of $636.24 million. During the same period in the prior year, the business posted $2.02 EPS. Check Point Software Technologies’s quarterly revenue was up 6.6% compared to the same quarter last year. As a group, analysts expect that Check Point Software Technologies Ltd. will post 6.95 earnings per share for the current fiscal year.
Check Point Software Technologies Profile
Check Point Software Technologies Ltd. is engaged in the development and marketing of software and hardware solutions for information technology security. Its products include Quantum, CloudGuard, Harmony, and Infinity-Vision. The company was founded by Gil Shwed, Marius Nacht, and Shlomo Kramer in July 1993 and is headquartered in Tel Aviv, Israel.
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