Parsons Capital Management Inc. RI Sells 254 Shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Parsons Capital Management Inc. RI lessened its stake in Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 10.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,105 shares of the technology company’s stock after selling 254 shares during the quarter. Parsons Capital Management Inc. RI’s holdings in Check Point Software Technologies were worth $393,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Check Point Software Technologies by 73.8% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,094,887 shares of the technology company’s stock worth $211,105,000 after buying an additional 464,821 shares during the last quarter. World Investment Advisors LLC purchased a new position in Check Point Software Technologies in the 3rd quarter worth approximately $51,922,000. FMR LLC lifted its position in Check Point Software Technologies by 28.7% in the 3rd quarter. FMR LLC now owns 1,133,175 shares of the technology company’s stock valued at $218,488,000 after acquiring an additional 252,581 shares in the last quarter. Robeco Institutional Asset Management B.V. boosted its stake in Check Point Software Technologies by 10.7% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,836,799 shares of the technology company’s stock valued at $354,153,000 after purchasing an additional 177,104 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its holdings in shares of Check Point Software Technologies by 134.2% in the 3rd quarter. Assenagon Asset Management S.A. now owns 130,934 shares of the technology company’s stock worth $25,245,000 after purchasing an additional 75,031 shares in the last quarter. Institutional investors own 98.51% of the company’s stock.

Check Point Software Technologies Price Performance

Shares of CHKP stock opened at $202.94 on Wednesday. The company has a market capitalization of $22.32 billion, a price-to-earnings ratio of 27.72, a PEG ratio of 3.05 and a beta of 0.63. The company’s fifty day moving average price is $186.09 and its 200-day moving average price is $186.88. Check Point Software Technologies Ltd. has a one year low of $145.75 and a one year high of $210.70.

Check Point Software Technologies (NASDAQ:CHKP) last posted its quarterly earnings results on Tuesday, October 29th. The technology company reported $2.25 EPS for the quarter, meeting analysts’ consensus estimates of $2.25. The business had revenue of $635.10 million for the quarter, compared to analysts’ expectations of $634.96 million. Check Point Software Technologies had a return on equity of 31.84% and a net margin of 33.17%. The business’s quarterly revenue was up 6.5% on a year-over-year basis. During the same period last year, the firm earned $1.80 earnings per share. Equities research analysts expect that Check Point Software Technologies Ltd. will post 7.87 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on CHKP shares. Truist Financial increased their price objective on Check Point Software Technologies from $200.00 to $220.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Scotiabank lifted their price target on shares of Check Point Software Technologies from $200.00 to $215.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, January 21st. Mizuho increased their price objective on shares of Check Point Software Technologies from $178.00 to $205.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Wedbush lifted their target price on shares of Check Point Software Technologies from $200.00 to $230.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 9th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Check Point Software Technologies in a report on Wednesday, October 30th. Eighteen analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, Check Point Software Technologies presently has an average rating of “Hold” and an average target price of $203.05.

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.