New York State Common Retirement Fund Cuts Stock Position in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

New York State Common Retirement Fund lessened its holdings in Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 3.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 274,251 shares of the technology company’s stock after selling 10,031 shares during the period. New York State Common Retirement Fund’s holdings in Check Point Software Technologies were worth $41,903,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in CHKP. National Bank of Canada FI raised its stake in shares of Check Point Software Technologies by 25.7% in the 3rd quarter. National Bank of Canada FI now owns 8,225 shares of the technology company’s stock valued at $1,097,000 after acquiring an additional 1,683 shares during the period. AE Wealth Management LLC raised its stake in shares of Check Point Software Technologies by 17.8% in the 3rd quarter. AE Wealth Management LLC now owns 6,767 shares of the technology company’s stock valued at $902,000 after acquiring an additional 1,022 shares during the period. GHP Investment Advisors Inc. increased its stake in Check Point Software Technologies by 11.4% during the 3rd quarter. GHP Investment Advisors Inc. now owns 7,350 shares of the technology company’s stock worth $987,000 after buying an additional 750 shares during the period. Boston Trust Walden Corp increased its stake in Check Point Software Technologies by 0.4% during the 3rd quarter. Boston Trust Walden Corp now owns 87,798 shares of the technology company’s stock worth $11,702,000 after buying an additional 311 shares during the period. Finally, ARK Investment Management LLC increased its stake in Check Point Software Technologies by 10.0% during the 3rd quarter. ARK Investment Management LLC now owns 16,962 shares of the technology company’s stock worth $2,261,000 after buying an additional 1,536 shares during the period. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Check Point Software Technologies Stock Performance

NASDAQ CHKP opened at $161.00 on Thursday. Check Point Software Technologies Ltd. has a one year low of $117.18 and a one year high of $168.82. The company has a 50-day simple moving average of $161.87 and a 200-day simple moving average of $152.78. The firm has a market capitalization of $19.44 billion, a PE ratio of 22.61, a price-to-earnings-growth ratio of 2.61 and a beta of 0.61.

Check Point Software Technologies (NASDAQ:CHKP) last posted its quarterly earnings results on Tuesday, February 6th. The technology company reported $2.57 EPS for the quarter, beating the consensus estimate of $2.47 by $0.10. Check Point Software Technologies had a net margin of 34.80% and a return on equity of 30.81%. The business had revenue of $663.50 million during the quarter, compared to analyst estimates of $662.09 million. During the same period in the previous year, the business posted $2.23 EPS. The company’s quarterly revenue was up 3.9% on a year-over-year basis. Equities analysts forecast that Check Point Software Technologies Ltd. will post 7.85 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on CHKP. Wedbush reaffirmed an “outperform” rating and set a $185.00 price target on shares of Check Point Software Technologies in a research note on Wednesday, April 10th. Mizuho reaffirmed a “neutral” rating and set a $160.00 price target on shares of Check Point Software Technologies in a research note on Wednesday, March 27th. UBS Group lifted their price target on shares of Check Point Software Technologies from $140.00 to $170.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 10th. Wells Fargo & Company lifted their price target on shares of Check Point Software Technologies from $132.00 to $162.00 and gave the stock an “equal weight” rating in a research note on Monday, January 29th. Finally, Royal Bank of Canada raised their price objective on shares of Check Point Software Technologies from $159.00 to $165.00 and gave the stock a “sector perform” rating in a report on Wednesday, February 7th. Thirteen research analysts have rated the stock with a hold rating and ten have assigned 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 $160.16.

Check Point Software Technologies Company 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.