Rhumbline Advisers Has $9.57 Million Holdings in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Rhumbline Advisers cut its position in Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 1.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 41,998 shares of the technology company’s stock after selling 561 shares during the period. Rhumbline Advisers’ holdings in Check Point Software Technologies were worth $9,572,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CHKP. Gitterman Wealth Management LLC lifted its position in shares of Check Point Software Technologies by 3.2% during the fourth quarter. Gitterman Wealth Management LLC now owns 1,533 shares of the technology company’s stock worth $286,000 after purchasing an additional 48 shares in the last quarter. TD Waterhouse Canada Inc. lifted its position in shares of Check Point Software Technologies by 1.7% during the fourth quarter. TD Waterhouse Canada Inc. now owns 3,095 shares of the technology company’s stock worth $578,000 after purchasing an additional 52 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its position in shares of Check Point Software Technologies by 19.6% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 336 shares of the technology company’s stock worth $77,000 after purchasing an additional 55 shares in the last quarter. Argonautica Private Wealth Management Inc. lifted its position in shares of Check Point Software Technologies by 0.9% during the fourth quarter. Argonautica Private Wealth Management Inc. now owns 6,002 shares of the technology company’s stock worth $1,121,000 after purchasing an additional 56 shares in the last quarter. Finally, Kingsview Wealth Management LLC lifted its position in shares of Check Point Software Technologies by 3.1% during the fourth quarter. Kingsview Wealth Management LLC now owns 1,891 shares of the technology company’s stock worth $353,000 after purchasing an additional 57 shares in the last quarter. 98.51% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CHKP. Wall Street Zen upgraded shares of Check Point Software Technologies from a “hold” rating to a “buy” rating in a research report on Tuesday, May 13th. Wells Fargo & Company reduced their target price on shares of Check Point Software Technologies from $280.00 to $265.00 and set an “overweight” rating on the stock in a research report on Thursday, April 24th. Baird R W upgraded shares of Check Point Software Technologies from a “hold” rating to a “strong-buy” rating in a research report on Thursday, February 27th. Robert W. Baird upgraded shares of Check Point Software Technologies from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $235.00 to $255.00 in a report on Thursday, February 27th. Finally, Jefferies Financial Group increased their price objective on shares of Check Point Software Technologies from $250.00 to $255.00 and gave the company a “buy” rating in a report on Thursday, February 27th. Sixteen equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $232.04.

Check Point Software Technologies Stock Down 2.4%

Shares of CHKP stock opened at $227.80 on Tuesday. The firm has a fifty day moving average of $219.21 and a 200-day moving average of $209.45. Check Point Software Technologies Ltd. has a 12-month low of $152.91 and a 12-month high of $234.36. The company has a market capitalization of $25.05 billion, a price-to-earnings ratio of 30.50, a P/E/G ratio of 3.41 and a beta of 0.66.

Check Point Software Technologies (NASDAQ:CHKP) last issued its quarterly earnings data on Wednesday, April 23rd. The technology company reported $2.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.19 by $0.02. Check Point Software Technologies had a net margin of 32.97% and a return on equity of 32.40%. The company had revenue of $637.80 million during the quarter, compared to the consensus estimate of $635.80 million. During the same quarter in the prior year, the firm earned $2.04 earnings per share. The firm’s revenue was up 6.5% compared to the same quarter last year. On average, equities analysts expect that Check Point Software Technologies Ltd. will post 8.61 EPS 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.