Ashburton Jersey Ltd Trims Stock Holdings in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Ashburton Jersey Ltd cut its position in Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 1.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 101,809 shares of the technology company’s stock after selling 1,911 shares during the quarter. Check Point Software Technologies accounts for about 6.2% of Ashburton Jersey Ltd’s holdings, making the stock its 7th biggest holding. Ashburton Jersey Ltd owned about 0.08% of Check Point Software Technologies worth $13,267,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. Chilton Capital Management LLC acquired a new stake in Check Point Software Technologies in the first quarter valued at $130,000. Mercer Global Advisors Inc. ADV increased its stake in shares of Check Point Software Technologies by 6.0% in the first quarter. Mercer Global Advisors Inc. ADV now owns 2,956 shares of the technology company’s stock valued at $384,000 after buying an additional 167 shares during the period. Doheny Asset Management CA raised its position in shares of Check Point Software Technologies by 5.6% during the first quarter. Doheny Asset Management CA now owns 4,593 shares of the technology company’s stock worth $597,000 after acquiring an additional 243 shares during the last quarter. Rings Capital Management LLC acquired a new position in shares of Check Point Software Technologies in the first quarter worth approximately $20,800,000. Finally, Spears Abacus Advisors LLC acquired a new stake in Check Point Software Technologies during the 1st quarter valued at approximately $2,547,000. 68.34% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CHKP has been the topic of a number of analyst reports. Citigroup upped their price objective on shares of Check Point Software Technologies from $125.00 to $135.00 and gave the company a “neutral” rating in a research note on Tuesday, August 29th. Robert W. Baird lifted their price objective on Check Point Software Technologies from $130.00 to $140.00 in a research report on Tuesday, July 25th. Barclays upped their target price on Check Point Software Technologies from $127.00 to $137.00 and gave the company an “equal weight” rating in a research report on Thursday, July 27th. Morgan Stanley boosted their price target on Check Point Software Technologies from $116.00 to $118.00 and gave the company an “underweight” rating in a research note on Thursday, July 27th. Finally, BMO Capital Markets raised their price objective on shares of Check Point Software Technologies from $133.00 to $140.00 and gave the stock a “market perform” rating in a research report on Thursday, July 27th. Three investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $136.59.

Check Point Software Technologies Price Performance

NASDAQ CHKP opened at $133.75 on Wednesday. The stock has a market capitalization of $16.15 billion, a price-to-earnings ratio of 19.41, a PEG ratio of 2.50 and a beta of 0.65. The business’s fifty day moving average is $130.44 and its 200-day moving average is $127.74. Check Point Software Technologies Ltd. has a one year low of $107.54 and a one year high of $136.58.

Check Point Software Technologies (NASDAQ:CHKP) last released its earnings results on Wednesday, July 26th. The technology company reported $2.00 earnings per share for the quarter, beating analysts’ consensus estimates of $1.90 by $0.10. Check Point Software Technologies had a net margin of 35.43% and a return on equity of 29.80%. The firm had revenue of $588.70 million for the quarter, compared to analysts’ expectations of $589.66 million. During the same period in the previous year, the company earned $1.40 earnings per share. The company’s quarterly revenue was up 3.1% on a year-over-year basis. Research analysts expect that Check Point Software Technologies Ltd. will post 7.14 EPS for the current fiscal year.

Check Point Software Technologies Company 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.