Industrial Alliance Investment Management Inc. Trims Stock Position in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Industrial Alliance Investment Management Inc. lowered its stake in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 6.5% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 1,216 shares of the technology company’s stock after selling 85 shares during the period. Industrial Alliance Investment Management Inc.’s holdings in Check Point Software Technologies were worth $199,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. BSW Wealth Partners increased its stake in shares of Check Point Software Technologies by 3.7% in the 4th quarter. BSW Wealth Partners now owns 2,162 shares of the technology company’s stock valued at $330,000 after purchasing an additional 78 shares in the last quarter. Guardian Wealth Management Inc. increased its stake in Check Point Software Technologies by 0.5% during the 4th quarter. Guardian Wealth Management Inc. now owns 18,633 shares of the technology company’s stock worth $2,847,000 after buying an additional 85 shares in the last quarter. Pacer Advisors Inc. increased its stake in Check Point Software Technologies by 6.9% during the 4th quarter. Pacer Advisors Inc. now owns 1,383 shares of the technology company’s stock worth $211,000 after buying an additional 89 shares in the last quarter. Butensky & Cohen Financial Security Inc. increased its stake in Check Point Software Technologies by 0.4% during the 1st quarter. Butensky & Cohen Financial Security Inc. now owns 26,472 shares of the technology company’s stock worth $4,342,000 after buying an additional 102 shares in the last quarter. Finally, Avantax Advisory Services Inc. increased its stake in Check Point Software Technologies by 6.8% during the 4th quarter. Avantax Advisory Services Inc. now owns 1,717 shares of the technology company’s stock worth $262,000 after buying an additional 109 shares in the last quarter. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on CHKP. BMO Capital Markets boosted their price objective on Check Point Software Technologies from $180.00 to $200.00 and gave the stock a “market perform” rating in a research note on Thursday, July 25th. Needham & Company LLC restated a “hold” rating on shares of Check Point Software Technologies in a report on Thursday, July 25th. Susquehanna boosted their target price on Check Point Software Technologies from $200.00 to $215.00 and gave the stock a “positive” rating in a report on Thursday, July 25th. Robert W. Baird boosted their target price on Check Point Software Technologies from $168.00 to $200.00 and gave the stock a “neutral” rating in a report on Thursday, July 25th. Finally, Barclays boosted their target price on Check Point Software Technologies from $175.00 to $192.00 and gave the stock an “equal weight” rating in a report on Thursday, July 25th. Fifteen research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $183.68.

Check Point Software Technologies Trading Up 1.7 %

NASDAQ:CHKP traded up $3.03 during trading hours on Wednesday, hitting $185.46. The company’s stock had a trading volume of 214,497 shares, compared to its average volume of 709,490. The stock has a market capitalization of $20.94 billion, a P/E ratio of 25.34, a price-to-earnings-growth ratio of 2.86 and a beta of 0.62. The stock has a fifty day moving average of $163.11 and a 200-day moving average of $160.66. Check Point Software Technologies Ltd. has a 52-week low of $125.68 and a 52-week high of $186.75.

Check Point Software Technologies (NASDAQ:CHKP) last posted its earnings results on Wednesday, July 24th. The technology company reported $2.17 EPS for the quarter, beating the consensus estimate of $2.16 by $0.01. Check Point Software Technologies had a return on equity of 31.59% and a net margin of 33.61%. The firm had revenue of $627.40 million for the quarter, compared to analyst estimates of $623.19 million. During the same quarter in the prior year, the company posted $1.74 earnings per share. Check Point Software Technologies’s revenue for the quarter was up 6.6% compared to the same quarter last year. On average, sell-side analysts forecast that Check Point Software Technologies Ltd. will post 7.83 earnings per share for the current 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.