DekaBank Deutsche Girozentrale Sells 11,480 Shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP)

DekaBank Deutsche Girozentrale reduced its holdings in Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 2.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 568,498 shares of the technology company’s stock after selling 11,480 shares during the quarter. DekaBank Deutsche Girozentrale owned about 0.50% of Check Point Software Technologies worth $94,417,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Concord Wealth Partners purchased a new position in shares of Check Point Software Technologies during the first quarter valued at approximately $31,000. Richardson Financial Services Inc. purchased a new position in shares of Check Point Software Technologies during the fourth quarter valued at approximately $33,000. Y.D. More Investments Ltd increased its stake in shares of Check Point Software Technologies by 37.0% during the fourth quarter. Y.D. More Investments Ltd now owns 500 shares of the technology company’s stock valued at $76,000 after buying an additional 135 shares during the period. Annis Gardner Whiting Capital Advisors LLC purchased a new position in shares of Check Point Software Technologies during the fourth quarter valued at approximately $92,000. Finally, Transcendent Capital Group LLC purchased a new position in shares of Check Point Software Technologies during the first quarter valued at approximately $107,000. 87.62% of the stock is owned by hedge funds and other institutional investors.

Check Point Software Technologies Trading Down 0.8 %

CHKP stock traded down $1.40 during trading on Friday, reaching $180.42. The stock had a trading volume of 614,029 shares, compared to its average volume of 773,675. Check Point Software Technologies Ltd. has a 52 week low of $125.68 and a 52 week high of $186.75. The stock’s 50 day moving average is $164.79 and its two-hundred day moving average is $161.12. The firm has a market cap of $20.37 billion, a PE ratio of 25.06, a PEG ratio of 2.84 and a beta of 0.62.

Check Point Software Technologies (NASDAQ:CHKP) last posted its earnings results on Wednesday, July 24th. The technology company reported $2.17 earnings per share for the quarter, beating analysts’ consensus estimates of $2.16 by $0.01. Check Point Software Technologies had a return on equity of 31.59% and a net margin of 33.61%. The company had revenue of $627.40 million for the quarter, compared to the consensus estimate of $623.19 million. During the same quarter in the prior year, the company earned $1.74 earnings per share. Check Point Software Technologies’s revenue was up 6.6% on a year-over-year basis. On average, research analysts anticipate that Check Point Software Technologies Ltd. will post 7.83 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on CHKP. Royal Bank of Canada boosted their target price on Check Point Software Technologies from $165.00 to $187.00 and gave the company a “sector perform” rating in a research note on Thursday, July 25th. Wedbush upped their price target on Check Point Software Technologies from $185.00 to $200.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Jefferies Financial Group upped their price target on Check Point Software Technologies from $185.00 to $210.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Truist Financial reaffirmed a “buy” rating and issued a $200.00 price target (up from $175.00) on shares of Check Point Software Technologies in a research note on Thursday, July 25th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Check Point Software Technologies in a research note on Thursday, July 25th. Fifteen equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $183.68.

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.