Court Place Advisors LLC Cuts Stock Position in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Court Place Advisors LLC trimmed its position in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 3.0% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 28,155 shares of the technology company’s stock after selling 860 shares during the quarter. Check Point Software Technologies comprises about 1.7% of Court Place Advisors LLC’s investment portfolio, making the stock its 17th largest holding. Court Place Advisors LLC’s holdings in Check Point Software Technologies were worth $5,257,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. FSA Wealth Management LLC acquired a new position in Check Point Software Technologies during the 3rd quarter valued at about $27,000. GAMMA Investing LLC grew its stake in shares of Check Point Software Technologies by 53.1% during the fourth quarter. GAMMA Investing LLC now owns 173 shares of the technology company’s stock worth $32,000 after acquiring an additional 60 shares during the last quarter. Kathleen S. Wright Associates Inc. acquired a new position in shares of Check Point Software Technologies during the third quarter valued at about $33,000. Concord Wealth Partners purchased a new position in shares of Check Point Software Technologies in the 3rd quarter valued at approximately $37,000. Finally, Exchange Traded Concepts LLC boosted its stake in Check Point Software Technologies by 142.7% in the 4th quarter. Exchange Traded Concepts LLC now owns 233 shares of the technology company’s stock worth $44,000 after purchasing an additional 137 shares in the last quarter. 98.51% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have issued reports on CHKP. Citigroup raised their price target on shares of Check Point Software Technologies from $185.00 to $190.00 and gave the stock a “neutral” rating in a report on Friday, January 17th. Cantor Fitzgerald restated a “neutral” rating and issued a $200.00 target price on shares of Check Point Software Technologies in a research note on Monday. Robert W. Baird dropped their price target on Check Point Software Technologies from $210.00 to $205.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 30th. Royal Bank of Canada restated a “sector perform” rating and issued a $187.00 price objective on shares of Check Point Software Technologies in a research note on Wednesday, October 30th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Check Point Software Technologies in a research report on Wednesday, October 30th. Eighteen analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $203.05.

Check Point Software Technologies Stock Up 1.9 %

CHKP opened at $198.20 on Tuesday. The company has a market cap of $21.80 billion, a price-to-earnings ratio of 27.08, a PEG ratio of 3.05 and a beta of 0.63. The firm’s fifty day simple moving average is $185.60 and its two-hundred day simple moving average is $186.68. Check Point Software Technologies Ltd. has a 52-week low of $145.75 and a 52-week high of $210.70.

Check Point Software Technologies (NASDAQ:CHKP) last issued its quarterly 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 net margin of 33.17% and a return on equity of 31.84%. The firm had revenue of $635.10 million for the quarter, compared to analyst estimates of $634.96 million. During the same period last year, the company posted $1.80 EPS. Check Point Software Technologies’s quarterly revenue was up 6.5% compared to the same quarter last year. On average, research analysts forecast that Check Point Software Technologies Ltd. will post 7.87 EPS 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.