Prime Capital Investment Advisors LLC Reduces Position in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Prime Capital Investment Advisors LLC decreased its holdings in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 13.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,890 shares of the technology company’s stock after selling 1,250 shares during the period. Prime Capital Investment Advisors LLC’s holdings in Check Point Software Technologies were worth $1,302,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the stock. Tidal Investments LLC purchased a new stake in Check Point Software Technologies in the first quarter worth about $6,558,000. Principal Financial Group Inc. increased its holdings in Check Point Software Technologies by 69.3% in the 4th quarter. Principal Financial Group Inc. now owns 27,026 shares of the technology company’s stock worth $4,129,000 after acquiring an additional 11,064 shares in the last quarter. Quantbot Technologies LP bought a new stake in Check Point Software Technologies during the 1st quarter worth approximately $1,095,000. Envestnet Asset Management Inc. lifted its holdings in Check Point Software Technologies by 4.9% during the fourth quarter. Envestnet Asset Management Inc. now owns 379,889 shares of the technology company’s stock valued at $58,043,000 after purchasing an additional 17,916 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its position in shares of Check Point Software Technologies by 8.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 97,434 shares of the technology company’s stock worth $15,980,000 after purchasing an additional 7,357 shares during the period. 87.62% of the stock is owned by institutional investors.

Check Point Software Technologies Price Performance

Shares of NASDAQ CHKP opened at $191.70 on Wednesday. Check Point Software Technologies Ltd. has a 1-year low of $126.57 and a 1-year high of $195.29. The business’s 50 day moving average is $183.24 and its two-hundred day moving average is $167.17. The stock has a market capitalization of $21.64 billion, a P/E ratio of 26.63, a PEG ratio of 2.96 and a beta of 0.62.

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

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on CHKP shares. BMO Capital Markets lifted their target price on shares of Check Point Software Technologies from $180.00 to $200.00 and gave the company a “market perform” rating in a research note on Thursday, July 25th. Robert W. Baird upped their price objective on Check Point Software Technologies from $168.00 to $200.00 and gave the stock a “neutral” rating in a research note on Thursday, July 25th. Wedbush lifted their target price on Check Point Software Technologies from $185.00 to $200.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Scotiabank upped their price target on Check Point Software Technologies from $180.00 to $200.00 and gave the stock a “sector outperform” rating in a research note on Thursday, July 25th. Finally, Truist Financial reaffirmed a “buy” rating and set a $200.00 price objective (up from $175.00) on shares of Check Point Software Technologies in a report on Thursday, July 25th. Fifteen research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $183.68.

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.