Sound Shore Management Inc. CT Sells 15,219 Shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Sound Shore Management Inc. CT trimmed its stake in Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 3.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 460,592 shares of the technology company’s stock after selling 15,219 shares during the period. Check Point Software Technologies makes up approximately 2.5% of Sound Shore Management Inc. CT’s portfolio, making the stock its 22nd biggest holding. Sound Shore Management Inc. CT owned approximately 0.41% of Check Point Software Technologies worth $75,998,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of CHKP. Sei Investments Co. increased its holdings in shares of Check Point Software Technologies by 14.9% in the 2nd quarter. Sei Investments Co. now owns 394,496 shares of the technology company’s stock worth $65,092,000 after buying an additional 51,073 shares during the last quarter. AE Wealth Management LLC bought a new position in Check Point Software Technologies in the second quarter valued at $327,000. Benjamin Edwards Inc. increased its stake in Check Point Software Technologies by 2.7% in the second quarter. Benjamin Edwards Inc. now owns 6,201 shares of the technology company’s stock valued at $1,023,000 after acquiring an additional 164 shares during the last quarter. WCG Wealth Advisors LLC lifted its stake in Check Point Software Technologies by 5.2% during the second quarter. WCG Wealth Advisors LLC now owns 12,774 shares of the technology company’s stock worth $2,108,000 after purchasing an additional 637 shares during the last quarter. Finally, Argent Trust Co boosted its holdings in shares of Check Point Software Technologies by 24.5% in the 2nd quarter. Argent Trust Co now owns 10,260 shares of the technology company’s stock worth $1,693,000 after purchasing an additional 2,019 shares in the last quarter. 87.62% of the stock is owned by hedge funds and other institutional investors.

Check Point Software Technologies Stock Performance

CHKP opened at $194.09 on Friday. The stock has a market cap of $21.91 billion, a price-to-earnings ratio of 26.96, a price-to-earnings-growth ratio of 2.96 and a beta of 0.62. The firm’s fifty day moving average is $184.48 and its 200 day moving average is $167.73. Check Point Software Technologies Ltd. has a fifty-two week low of $126.57 and a fifty-two week high of $195.29.

Check Point Software Technologies (NASDAQ:CHKP) last posted its quarterly earnings results on Wednesday, July 24th. The technology company reported $2.17 EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $627.40 million for the quarter, compared to analysts’ expectations of $623.19 million. During the same period in the previous year, the firm earned $1.74 EPS. The firm’s revenue was up 6.6% compared to the same quarter last year. On average, equities research analysts predict that Check Point Software Technologies Ltd. will post 7.83 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on CHKP. JPMorgan Chase & Co. boosted their target price on Check Point Software Technologies from $175.00 to $180.00 and gave the stock a “neutral” rating in a research report on Thursday, July 25th. BMO Capital Markets boosted their price objective on shares of Check Point Software Technologies from $180.00 to $200.00 and gave the stock a “market perform” rating in a report on Thursday, July 25th. Evercore ISI raised shares of Check Point Software Technologies to a “hold” rating in a report on Monday, September 16th. Wedbush boosted their price target on shares of Check Point Software Technologies from $185.00 to $200.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Finally, Scotiabank upped their price target on shares of Check Point Software Technologies from $180.00 to $200.00 and gave the company a “sector outperform” rating in a research report on Thursday, July 25th. Sixteen equities 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 an average rating of “Hold” and an average price target of $183.68.

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.