Welch & Forbes LLC Sells 75 Shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Welch & Forbes LLC reduced its stake in Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 0.2% in the 4th quarter, HoldingsChannel reports. The firm owned 36,054 shares of the technology company’s stock after selling 75 shares during the quarter. Welch & Forbes LLC’s holdings in Check Point Software Technologies were worth $5,509,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Acadian Asset Management LLC increased its position in Check Point Software Technologies by 1.6% in the 3rd quarter. Acadian Asset Management LLC now owns 4,348,630 shares of the technology company’s stock valued at $579,517,000 after buying an additional 69,441 shares in the last quarter. Nordea Investment Management AB increased its holdings in shares of Check Point Software Technologies by 0.3% during the third quarter. Nordea Investment Management AB now owns 2,727,583 shares of the technology company’s stock valued at $365,851,000 after acquiring an additional 7,493 shares in the last quarter. Legal & General Group Plc raised its position in shares of Check Point Software Technologies by 3.4% during the third quarter. Legal & General Group Plc now owns 1,626,814 shares of the technology company’s stock worth $216,822,000 after purchasing an additional 52,863 shares during the period. Ariel Investments LLC lifted its holdings in shares of Check Point Software Technologies by 121.2% in the 3rd quarter. Ariel Investments LLC now owns 1,083,364 shares of the technology company’s stock worth $144,391,000 after purchasing an additional 593,623 shares in the last quarter. Finally, Northern Trust Corp grew its position in Check Point Software Technologies by 14.6% in the 3rd quarter. Northern Trust Corp now owns 792,699 shares of the technology company’s stock valued at $105,651,000 after purchasing an additional 101,019 shares during the period. Institutional investors and hedge funds own 87.62% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. BMO Capital Markets raised their price objective on shares of Check Point Software Technologies from $175.00 to $185.00 and gave the company a “market perform” rating in a research note on Wednesday, February 7th. Mizuho reissued a “neutral” rating and set a $160.00 price objective on shares of Check Point Software Technologies in a report on Wednesday, March 27th. TD Cowen raised their target price on Check Point Software Technologies from $180.00 to $205.00 and gave the company an “outperform” rating in a report on Monday, March 18th. Stifel Nicolaus decreased their price target on Check Point Software Technologies from $170.00 to $165.00 and set a “hold” rating for the company in a report on Friday, April 26th. Finally, UBS Group upped their target price on shares of Check Point Software Technologies from $140.00 to $170.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 10th. Twelve analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $169.18.

Check Point Software Technologies Price Performance

CHKP stock traded up $2.07 during midday trading on Tuesday, hitting $154.74. The stock had a trading volume of 509,357 shares, compared to its average volume of 721,031. The business has a 50-day moving average of $160.24 and a two-hundred day moving average of $153.91. The firm has a market cap of $18.69 billion, a price-to-earnings ratio of 21.49, a price-to-earnings-growth ratio of 2.46 and a beta of 0.64. Check Point Software Technologies Ltd. has a 52-week low of $118.21 and a 52-week high of $168.82.

Check Point Software Technologies (NASDAQ:CHKP) last released its earnings results on Thursday, April 25th. The technology company reported $1.72 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.72. Check Point Software Technologies had a net margin of 34.33% and a return on equity of 31.42%. The firm had revenue of $598.80 million for the quarter, compared to the consensus estimate of $595.28 million. Research analysts predict that Check Point Software Technologies Ltd. will post 7.79 earnings per share for the current year.

Check Point Software Technologies Company 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.