Northwestern Mutual Wealth Management Co. Reduces Stock Position in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Northwestern Mutual Wealth Management Co. lowered its holdings in Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 39.0% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 20,299 shares of the technology company’s stock after selling 12,982 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Check Point Software Technologies were worth $3,349,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Check Point Software Technologies during the second quarter valued at approximately $30,000. Concord Wealth Partners bought a new stake in shares of Check Point Software Technologies in the first quarter worth approximately $31,000. Richardson Financial Services Inc. bought a new stake in Check Point Software Technologies in the 4th quarter worth approximately $33,000. Transcendent Capital Group LLC bought a new stake in shares of Check Point Software Technologies in the first quarter worth $107,000. Finally, Alaska Permanent Fund Corp bought a new stake in shares of Check Point Software Technologies during the 1st quarter valued at about $117,000. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Check Point Software Technologies Price Performance

Shares of NASDAQ CHKP opened at $190.90 on Friday. The stock has a market capitalization of $21.55 billion, a P/E ratio of 26.51, a price-to-earnings-growth ratio of 3.05 and a beta of 0.62. The business has a fifty day moving average price of $187.96 and a 200 day moving average price of $169.67. Check Point Software Technologies Ltd. has a 1-year low of $126.57 and a 1-year high of $196.56.

Check Point Software Technologies (NASDAQ:CHKP) last announced its 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. Check Point Software Technologies had a net margin of 33.61% and a return on equity of 31.59%. The company had revenue of $627.40 million during the quarter, compared to the consensus estimate of $623.19 million. During the same period last year, the firm earned $1.74 earnings per share. Check Point Software Technologies’s revenue was up 6.6% compared to the same quarter last year. 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 Analyst Weigh In

Several equities research analysts have recently commented on the company. Truist Financial restated a “buy” rating and issued a $200.00 price objective (up from $175.00) on shares of Check Point Software Technologies in a research note on Thursday, July 25th. Wedbush upped their price objective on Check Point Software Technologies from $185.00 to $200.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Scotiabank increased their price target on shares of Check Point Software Technologies from $180.00 to $200.00 and gave the company a “sector outperform” rating in a report on Thursday, July 25th. Barclays raised their price target on Check Point Software Technologies from $175.00 to $192.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 25th. Finally, Robert W. Baird boosted their target price on Check Point Software Technologies from $168.00 to $200.00 and gave the company a “neutral” rating in a research report on Thursday, July 25th. Sixteen equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $184.47.

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.