Check Point Software Technologies Ltd. (NASDAQ:CHKP) Shares Sold by Cambridge Investment Research Advisors Inc.

Cambridge Investment Research Advisors Inc. cut its position in Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 6.8% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 26,769 shares of the technology company’s stock after selling 1,961 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in Check Point Software Technologies were worth $6,101,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Norges Bank bought a new stake in shares of Check Point Software Technologies during the fourth quarter valued at approximately $428,820,000. Clearbridge Investments LLC acquired a new stake in Check Point Software Technologies in the 4th quarter valued at approximately $100,456,000. Causeway Capital Management LLC raised its stake in Check Point Software Technologies by 33.8% during the 4th quarter. Causeway Capital Management LLC now owns 1,929,604 shares of the technology company’s stock valued at $360,257,000 after acquiring an additional 487,823 shares in the last quarter. Altshuler Shaham Ltd acquired a new position in Check Point Software Technologies during the 4th quarter worth $73,186,000. Finally, First Trust Advisors LP grew its stake in shares of Check Point Software Technologies by 17.4% in the fourth quarter. First Trust Advisors LP now owns 1,822,787 shares of the technology company’s stock worth $340,314,000 after purchasing an additional 269,925 shares in the last quarter. 98.51% of the stock is owned by institutional investors and hedge funds.

Check Point Software Technologies Trading Down 0.0%

NASDAQ:CHKP opened at $218.88 on Friday. The business’s fifty day moving average price is $220.33 and its 200 day moving average price is $212.34. The firm has a market capitalization of $24.07 billion, a price-to-earnings ratio of 28.88, a PEG ratio of 3.13 and a beta of 0.66. Check Point Software Technologies Ltd. has a 1-year low of $155.84 and a 1-year high of $234.36.

Check Point Software Technologies (NASDAQ:CHKP) last released its earnings results on Wednesday, April 23rd. The technology company reported $2.21 earnings per share for the quarter, beating the consensus estimate of $2.19 by $0.02. The company had revenue of $637.80 million for the quarter, compared to analysts’ expectations of $635.80 million. Check Point Software Technologies had a return on equity of 32.88% and a net margin of 32.75%. The business’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.04 EPS. Equities analysts forecast that Check Point Software Technologies Ltd. will post 8.61 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Needham & Company LLC restated a “hold” rating on shares of Check Point Software Technologies in a research note on Thursday, February 27th. Baird R W raised shares of Check Point Software Technologies from a “hold” rating to a “strong-buy” rating in a research note on Thursday, February 27th. Compass Point set a $260.00 price objective on shares of Check Point Software Technologies in a research note on Thursday, March 27th. Scotiabank dropped their target price on Check Point Software Technologies from $250.00 to $240.00 and set a “sector outperform” rating on the stock in a report on Thursday, April 24th. Finally, Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $215.00 price target on shares of Check Point Software Technologies in a research note on Thursday, February 27th. Sixteen equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Check Point Software Technologies presently has an average rating of “Hold” and an average target price of $232.44.

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.