Cadinha & Co. LLC Sells 99,842 Shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Cadinha & Co. LLC decreased its position in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 90.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,033 shares of the technology company’s stock after selling 99,842 shares during the quarter. Cadinha & Co. LLC’s holdings in Check Point Software Technologies were worth $2,060,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. American Century Companies Inc. lifted its stake in Check Point Software Technologies by 11.9% in the second quarter. American Century Companies Inc. now owns 18,110 shares of the technology company’s stock worth $2,988,000 after acquiring an additional 1,920 shares during the period. Dimensional Fund Advisors LP bought a new stake in shares of Check Point Software Technologies in the 2nd quarter valued at about $2,079,000. Benjamin Edwards Inc. lifted its position in shares of Check Point Software Technologies by 2.7% in the 2nd quarter. Benjamin Edwards Inc. now owns 6,201 shares of the technology company’s stock worth $1,023,000 after purchasing an additional 164 shares during the period. AE Wealth Management LLC bought a new position in shares of Check Point Software Technologies during the second quarter valued at approximately $327,000. Finally, Sei Investments Co. increased its holdings in Check Point Software Technologies by 14.9% during the second quarter. Sei Investments Co. now owns 394,496 shares of the technology company’s stock valued at $65,092,000 after buying an additional 51,073 shares during the period. Hedge funds and other institutional investors own 98.51% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on CHKP shares. Evercore ISI upped their target price on Check Point Software Technologies from $180.00 to $185.00 and gave the stock an “in-line” rating in a report on Wednesday, October 30th. Truist Financial raised their price objective on Check Point Software Technologies from $200.00 to $220.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Piper Sandler boosted their target price on shares of Check Point Software Technologies from $185.00 to $195.00 and gave the stock a “neutral” rating in a report on Monday, January 6th. Wedbush raised their price target on shares of Check Point Software Technologies from $200.00 to $230.00 and gave the company an “outperform” rating in a report on Wednesday, October 9th. Finally, The Goldman Sachs Group lowered shares of Check Point Software Technologies from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $204.00 to $207.00 in a research note on Thursday, January 2nd. Seventeen equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $202.33.

Check Point Software Technologies Stock Performance

Shares of CHKP stock opened at $187.87 on Friday. Check Point Software Technologies Ltd. has a fifty-two week low of $145.75 and a fifty-two week high of $210.70. The firm has a market capitalization of $20.66 billion, a PE ratio of 25.67, a P/E/G ratio of 2.86 and a beta of 0.63. The stock’s 50-day simple moving average is $183.98 and its 200-day simple moving average is $185.73.

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, hitting the consensus estimate of $2.25. The company had revenue of $635.10 million for the quarter, compared to the consensus estimate 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 quarter in the prior year, the company earned $1.80 EPS. Sell-side analysts forecast that Check Point Software Technologies Ltd. will post 7.87 earnings per share for the current year.

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.