Perpetual Ltd Sells 6,700 Shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Perpetual Ltd reduced its stake in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 1.2% in the fourth quarter, HoldingsChannel.com reports. The firm owned 536,670 shares of the technology company’s stock after selling 6,700 shares during the period. Check Point Software Technologies comprises about 1.2% of Perpetual Ltd’s investment portfolio, making the stock its 24th largest holding. Perpetual Ltd’s holdings in Check Point Software Technologies were worth $100,196,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of CHKP. Ballentine Partners LLC purchased a new stake in Check Point Software Technologies in the 4th quarter valued at about $223,000. Koshinski Asset Management Inc. grew its holdings in shares of Check Point Software Technologies by 5.3% in the fourth quarter. Koshinski Asset Management Inc. now owns 3,176 shares of the technology company’s stock valued at $593,000 after acquiring an additional 160 shares in the last quarter. Diversify Advisory Services LLC bought a new position in shares of Check Point Software Technologies in the fourth quarter valued at approximately $201,000. Diversify Wealth Management LLC purchased a new stake in shares of Check Point Software Technologies during the fourth quarter valued at approximately $728,000. Finally, Steigerwald Gordon & Koch Inc. lifted its holdings in Check Point Software Technologies by 1.1% during the fourth quarter. Steigerwald Gordon & Koch Inc. now owns 124,585 shares of the technology company’s stock worth $23,260,000 after acquiring an additional 1,359 shares during the period. 98.51% of the stock is owned by hedge funds and other institutional investors.

Check Point Software Technologies Stock Up 0.6 %

Shares of NASDAQ:CHKP opened at $187.87 on Tuesday. The company’s fifty day moving average is $183.98 and its 200 day moving average is $185.85. Check Point Software Technologies Ltd. has a 52 week low of $145.75 and a 52 week high of $210.70. The stock has a market cap of $20.66 billion, a PE ratio of 25.67, a PEG ratio of 2.95 and a beta of 0.63.

Check Point Software Technologies (NASDAQ:CHKP) last released its earnings results on Tuesday, October 29th. The technology company reported $2.25 earnings per share for the quarter, meeting analysts’ consensus estimates of $2.25. Check Point Software Technologies had a return on equity of 31.84% and a net margin of 33.17%. The company had revenue of $635.10 million during the quarter, compared to analyst estimates of $634.96 million. During the same quarter in the previous year, the company posted $1.80 EPS. Check Point Software Technologies’s revenue for the quarter was up 6.5% on a year-over-year basis. Sell-side analysts anticipate that Check Point Software Technologies Ltd. will post 7.87 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Piper Sandler raised their target price on Check Point Software Technologies from $185.00 to $195.00 and gave the company a “neutral” rating in a research report on Monday, January 6th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $187.00 price objective on shares of Check Point Software Technologies in a research report on Wednesday, October 30th. BMO Capital Markets increased their target price on shares of Check Point Software Technologies from $200.00 to $238.00 and gave the company a “market perform” rating in a research report on Friday, October 25th. Robert W. Baird lowered their price target on shares of Check Point Software Technologies from $210.00 to $205.00 and set a “neutral” rating on the stock in a report on Wednesday, October 30th. Finally, Bank of America lowered Check Point Software Technologies from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $205.00 to $195.00 in a report on Wednesday, October 30th. Seventeen investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $202.33.

Check Point Software Technologies 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.