BTC Capital Management Inc. Sells 343 Shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP)

BTC Capital Management Inc. decreased its stake in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 6.2% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 5,158 shares of the technology company’s stock after selling 343 shares during the period. BTC Capital Management Inc.’s holdings in Check Point Software Technologies were worth $960,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Robeco Institutional Asset Management B.V. boosted its holdings in Check Point Software Technologies by 10.7% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,836,799 shares of the technology company’s stock worth $354,153,000 after acquiring an additional 177,104 shares during the last quarter. FMR LLC lifted its position in shares of Check Point Software Technologies by 28.7% during the third quarter. FMR LLC now owns 1,133,175 shares of the technology company’s stock worth $218,488,000 after acquiring an additional 252,581 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Check Point Software Technologies by 73.8% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,094,887 shares of the technology company’s stock valued at $211,105,000 after acquiring an additional 464,821 shares during the period. Swedbank AB grew its position in Check Point Software Technologies by 1.1% during the fourth quarter. Swedbank AB now owns 428,042 shares of the technology company’s stock worth $79,915,000 after buying an additional 4,760 shares in the last quarter. Finally, New York State Common Retirement Fund raised its position in shares of Check Point Software Technologies by 8.9% during the 3rd quarter. New York State Common Retirement Fund now owns 298,547 shares of the technology company’s stock valued at $57,563,000 after buying an additional 24,421 shares in the last quarter. 98.51% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Piper Sandler increased their price target on shares of 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. Barclays increased their target price on shares of Check Point Software Technologies from $200.00 to $230.00 and gave the company an “equal weight” rating in a report on Thursday. Bank of America downgraded shares of Check Point Software Technologies from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $205.00 to $195.00 in a research note on Wednesday, October 30th. Mizuho raised their price objective on Check Point Software Technologies from $178.00 to $205.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Finally, Robert W. Baird lowered their target price on Check Point Software Technologies from $210.00 to $205.00 and set a “neutral” rating for the company in a research note on Wednesday, October 30th. Seventeen analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $206.60.

Check Point Software Technologies Price Performance

CHKP stock opened at $218.99 on Friday. The company has a market capitalization of $24.08 billion, a price-to-earnings ratio of 29.92, a PEG ratio of 3.19 and a beta of 0.63. Check Point Software Technologies Ltd. has a 1-year low of $145.75 and a 1-year high of $226.03. The business has a 50 day simple moving average of $187.94 and a two-hundred day simple moving average of $187.44.

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

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.