Ritholtz Wealth Management Lowers Stock Position in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Ritholtz Wealth Management lessened its stake in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 13.3% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,807 shares of the technology company’s stock after selling 1,042 shares during the period. Ritholtz Wealth Management’s holdings in Check Point Software Technologies were worth $1,312,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in CHKP. Swedbank AB bought a new stake in Check Point Software Technologies in the first quarter worth about $69,487,000. Boston Partners raised its position in Check Point Software Technologies by 13.1% in the first quarter. Boston Partners now owns 3,623,923 shares of the technology company’s stock worth $594,169,000 after acquiring an additional 419,404 shares during the period. Acadian Asset Management LLC raised its position in Check Point Software Technologies by 10.5% in the second quarter. Acadian Asset Management LLC now owns 4,108,685 shares of the technology company’s stock worth $677,869,000 after acquiring an additional 391,983 shares during the period. Marshall Wace LLP bought a new stake in Check Point Software Technologies in the second quarter worth about $47,244,000. Finally, Meitav Investment House Ltd. raised its position in Check Point Software Technologies by 1,295.8% in the second quarter. Meitav Investment House Ltd. now owns 209,612 shares of the technology company’s stock worth $34,557,000 after acquiring an additional 194,595 shares during the period. Institutional investors own 87.62% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on CHKP shares. JPMorgan Chase & Co. lifted their price objective on shares of 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. Robert W. Baird lifted their target price on shares of Check Point Software Technologies from $168.00 to $200.00 and gave the stock a “neutral” rating in a research note on Thursday, July 25th. Susquehanna lifted their target price on shares of Check Point Software Technologies from $200.00 to $215.00 and gave the stock a “positive” rating in a research note on Thursday, July 25th. Needham & Company LLC reiterated a “hold” rating on shares of Check Point Software Technologies in a research note on Thursday, July 25th. Finally, Truist Financial reiterated a “buy” rating and issued a $200.00 target price (up previously from $175.00) on shares of Check Point Software Technologies in a research note on Thursday, July 25th. Sixteen equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, Check Point Software Technologies currently has a consensus rating of “Hold” and a consensus price target of $186.05.

Check Point Software Technologies Stock Performance

Shares of CHKP opened at $208.54 on Monday. The firm has a market cap of $23.55 billion, a price-to-earnings ratio of 28.96, a PEG ratio of 3.17 and a beta of 0.62. Check Point Software Technologies Ltd. has a fifty-two week low of $126.57 and a fifty-two week high of $210.70. The firm has a 50 day moving average price of $190.16 and a 200-day moving average price of $171.25.

Check Point Software Technologies (NASDAQ:CHKP) last announced its quarterly earnings data on Wednesday, July 24th. The technology company reported $2.17 earnings per share for the quarter, topping analysts’ consensus estimates of $2.16 by $0.01. The firm had revenue of $627.40 million during the quarter, compared to analyst estimates of $623.19 million. Check Point Software Technologies had a net margin of 33.61% and a return on equity of 31.59%. The business’s quarterly revenue was up 6.6% on a year-over-year basis. During the same period in the previous year, the business posted $1.74 EPS. As a group, equities research analysts predict that Check Point Software Technologies Ltd. will post 7.83 earnings per share 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.