Ninety One UK Ltd Sells 5,611 Shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Ninety One UK Ltd lessened its stake in Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 0.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,582,189 shares of the technology company’s stock after selling 5,611 shares during the quarter. Check Point Software Technologies comprises about 1.6% of Ninety One UK Ltd’s investment portfolio, making the stock its 19th largest holding. Ninety One UK Ltd owned about 3.06% of Check Point Software Technologies worth $547,323,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Assenagon Asset Management S.A. increased its holdings in shares of Check Point Software Technologies by 52.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 55,681 shares of the technology company’s stock worth $8,508,000 after acquiring an additional 19,111 shares in the last quarter. Prime Capital Investment Advisors LLC acquired a new position in shares of Check Point Software Technologies during the fourth quarter worth about $1,505,000. Tritonpoint Wealth LLC acquired a new position in shares of Check Point Software Technologies during the fourth quarter worth about $2,586,000. SG Americas Securities LLC boosted its position in shares of Check Point Software Technologies by 81.9% during the fourth quarter. SG Americas Securities LLC now owns 27,303 shares of the technology company’s stock worth $4,172,000 after buying an additional 12,297 shares during the period. Finally, International Assets Investment Management LLC acquired a new position in shares of Check Point Software Technologies during the fourth quarter worth about $47,160,000. Institutional investors own 87.62% of the company’s stock.

Check Point Software Technologies Stock Up 0.4 %

CHKP traded up $0.70 during midday trading on Thursday, hitting $158.79. 348,870 shares of the company were exchanged, compared to its average volume of 705,856. The firm has a market capitalization of $19.18 billion, a P/E ratio of 22.20, a P/E/G ratio of 2.54 and a beta of 0.61. Check Point Software Technologies Ltd. has a 1-year low of $117.18 and a 1-year high of $168.82. The firm’s 50 day moving average price is $162.32 and its 200-day moving average price is $151.90.

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

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CHKP. Wells Fargo & Company upped their price objective on Check Point Software Technologies from $132.00 to $162.00 and gave the stock an “equal weight” rating in a research report on Monday, January 29th. UBS Group increased their price target on Check Point Software Technologies from $140.00 to $170.00 and gave the company a “neutral” rating in a research report on Wednesday, January 10th. Citigroup increased their price target on Check Point Software Technologies from $140.00 to $155.00 and gave the company a “neutral” rating in a research report on Wednesday, January 10th. Wedbush restated an “outperform” rating and issued a $185.00 price objective on shares of Check Point Software Technologies in a research note on Wednesday, April 10th. Finally, BMO Capital Markets raised their target price on Check Point Software Technologies from $175.00 to $185.00 and gave the company a “market perform” rating in a report on Wednesday, February 7th. Thirteen equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price 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.