Cambridge Trust Co. Has $206,000 Position in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Cambridge Trust Co. cut its holdings in Check Point Software Technologies Ltd. (NASDAQ:CHKP – Get Rating) by 4.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,636 shares of the technology company’s stock after selling 83 shares during the period. Cambridge Trust Co.’s holdings in Check Point Software Technologies were worth $206,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Richard P Slaughter Associates Inc increased its holdings in Check Point Software Technologies by 2.5% in the fourth quarter. Richard P Slaughter Associates Inc now owns 21,376 shares of the technology company’s stock worth $2,697,000 after purchasing an additional 515 shares in the last quarter. Brookstone Capital Management increased its stake in shares of Check Point Software Technologies by 1.9% in the 4th quarter. Brookstone Capital Management now owns 4,312 shares of the technology company’s stock valued at $553,000 after acquiring an additional 80 shares in the last quarter. Fulton Bank N.A. lifted its position in shares of Check Point Software Technologies by 30.4% during the 4th quarter. Fulton Bank N.A. now owns 5,433 shares of the technology company’s stock valued at $685,000 after acquiring an additional 1,265 shares during the period. MQS Management LLC acquired a new stake in Check Point Software Technologies in the third quarter worth $271,000. Finally, Bank of New York Mellon Corp increased its stake in Check Point Software Technologies by 1.0% in the third quarter. Bank of New York Mellon Corp now owns 640,664 shares of the technology company’s stock valued at $71,768,000 after purchasing an additional 6,367 shares in the last quarter. 64.76% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently commented on the company. Jefferies Financial Group upgraded Check Point Software Technologies from a “hold” rating to a “buy” rating and raised their target price for the company from $135.00 to $150.00 in a research note on Thursday, January 5th. Scotiabank started coverage on Check Point Software Technologies in a research report on Tuesday, January 17th. They set a “sector outperform” rating and a $160.00 target price on the stock. Wells Fargo & Company raised shares of Check Point Software Technologies from an “underweight” rating to an “equal weight” rating and set a $130.00 price target for the company in a research report on Tuesday, January 17th. Guggenheim began coverage on shares of Check Point Software Technologies in a report on Monday, January 23rd. They set a “neutral” rating on the stock. Finally, Piper Sandler boosted their target price on shares of Check Point Software Technologies from $125.00 to $130.00 in a research report on Thursday, January 5th. Four analysts have rated the stock with a sell rating, eleven have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $138.41.

Check Point Software Technologies Stock Up 0.3 %

Shares of CHKP stock opened at $129.17 on Friday. The firm has a market cap of $16.20 billion, a P/E ratio of 20.41, a PEG ratio of 2.46 and a beta of 0.69. The company has a 50 day moving average of $126.99 and a 200-day moving average of $124.44. Check Point Software Technologies Ltd. has a 12-month low of $107.54 and a 12-month high of $145.54.

Check Point Software Technologies (NASDAQ:CHKP – Get Rating) last released its earnings results on Monday, February 13th. The technology company reported $2.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.36 by $0.09. The business had revenue of $638.50 million during the quarter, compared to the consensus estimate of $636.24 million. Check Point Software Technologies had a return on equity of 27.22% and a net margin of 34.20%. The business’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same period last year, the business posted $2.02 earnings per share. As a group, equities analysts expect that Check Point Software Technologies Ltd. will post 6.94 EPS for the current year.

About Check Point Software Technologies

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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.