State of Alaska Department of Revenue trimmed its position in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP – Get Rating) by 8.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,286 shares of the technology company's stock after selling 3,155 shares during the quarter. State of Alaska Department of Revenue's holdings in Check Point Software Technologies were worth $4,175,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. Tcwp LLC purchased a new stake in Check Point Software Technologies in the 1st quarter worth $26,000. AdvisorNet Financial Inc increased its holdings in Check Point Software Technologies by 107.0% in the 1st quarter. AdvisorNet Financial Inc now owns 236 shares of the technology company's stock worth $33,000 after acquiring an additional 122 shares in the last quarter. MV Capital Management Inc. purchased a new stake in Check Point Software Technologies in the 1st quarter worth $45,000. West Bancorporation Inc. purchased a new stake in Check Point Software Technologies in the 1st quarter worth $66,000. Finally, Prospera Financial Services Inc purchased a new stake in Check Point Software Technologies in the 1st quarter worth $67,000. 67.03% of the stock is owned by hedge funds and other institutional investors.
Get Check Point Software Technologies alerts:Check Point Software Technologies Trading Down 1.3 %
CHKP stock opened at $114.57 on Thursday. The company has a market capitalization of $14.37 billion, a P/E ratio of 18.97, a PEG ratio of 2.56 and a beta of 0.61. Check Point Software Technologies Ltd. has a twelve month low of $107.85 and a twelve month high of $149.62. The business has a 50 day simple moving average of $121.63 and a 200-day simple moving average of $127.17.
Check Point Software Technologies (NASDAQ:CHKP – Get Rating) last posted its quarterly earnings data on Monday, August 1st. The technology company reported $1.64 earnings per share for the quarter, beating the consensus estimate of $1.62 by $0.02. Check Point Software Technologies had a return on equity of 25.49% and a net margin of 35.15%. The business had revenue of $571.10 million during the quarter, compared to the consensus estimate of $560.40 million. During the same period in the prior year, the company earned $1.41 earnings per share. The company's revenue was up 8.6% compared to the same quarter last year. Research analysts predict that Check Point Software Technologies Ltd. will post 6.29 EPS for the current fiscal year.Analyst Ratings Changes
Several equities research analysts recently commented on the stock. Barclays cut their price target on shares of Check Point Software Technologies from $145.00 to $140.00 and set an "equal weight" rating for the company in a report on Tuesday, August 2nd. Bank of America raised shares of Check Point Software Technologies from an "underperform" rating to a "buy" rating and lifted their target price for the stock from $130.00 to $140.00 in a research note on Wednesday, July 20th. BMO Capital Markets lowered their target price on shares of Check Point Software Technologies from $155.00 to $150.00 and set an "outperform" rating on the stock in a research note on Tuesday, August 2nd. Finally, Piper Sandler lowered their price target on shares of Check Point Software Technologies from $130.00 to $120.00 in a research report on Wednesday, July 13th. Five analysts have rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $139.06.
About Check Point Software Technologies
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Check Point Software Technologies Ltd. develops, markets, and supports a range of products and services for IT security worldwide. The company offers a portfolio of network security, endpoint security, data security, and management solutions. It provides Check Point Infinity Architecture, a cyber security architecture that protects against 5th and 6th generation cyber-attacks across various networks, endpoint, cloud, workloads, Internet of Things, and mobile.
Further Reading
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