Check Point Software Technologies Ltd. (NASDAQ:CHKP) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC trimmed its position in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 17.7% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 121,934 shares of the technology company’s stock after selling 26,314 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Check Point Software Technologies were worth $23,510,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of CHKP. Massachusetts Financial Services Co. MA lifted its stake in Check Point Software Technologies by 2.1% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 5,527,700 shares of the technology company’s stock worth $912,070,000 after acquiring an additional 114,938 shares in the last quarter. Acadian Asset Management LLC increased its stake in Check Point Software Technologies by 10.5% during the second quarter. Acadian Asset Management LLC now owns 4,108,685 shares of the technology company’s stock worth $677,869,000 after purchasing an additional 391,983 shares during the period. Boston Partners lifted its position in shares of Check Point Software Technologies by 13.1% during the first quarter. Boston Partners now owns 3,623,923 shares of the technology company’s stock worth $594,169,000 after purchasing an additional 419,404 shares in the last quarter. Ninety One UK Ltd boosted its stake in shares of Check Point Software Technologies by 1.1% in the second quarter. Ninety One UK Ltd now owns 3,608,785 shares of the technology company’s stock valued at $595,450,000 after purchasing an additional 39,092 shares during the period. Finally, Nordea Investment Management AB grew its holdings in shares of Check Point Software Technologies by 3.0% in the first quarter. Nordea Investment Management AB now owns 2,674,761 shares of the technology company’s stock valued at $440,266,000 after purchasing an additional 77,849 shares in the last quarter. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

Check Point Software Technologies Stock Performance

Shares of CHKP stock opened at $205.40 on Friday. The stock’s 50-day moving average is $194.49 and its two-hundred day moving average is $173.59. Check Point Software Technologies Ltd. has a 1 year low of $126.57 and a 1 year high of $210.70. The firm has a market cap of $23.19 billion, a price-to-earnings ratio of 28.53, a PEG ratio of 3.17 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 (EPS) for the quarter, topping analysts’ consensus estimates of $2.16 by $0.01. Check Point Software Technologies had a return on equity of 31.59% and a net margin of 33.61%. The firm had revenue of $627.40 million for the quarter, compared to the consensus estimate of $623.19 million. During the same quarter last year, the business posted $1.74 EPS. The firm’s quarterly revenue was up 6.6% compared to the same quarter last year. As a group, research analysts predict that Check Point Software Technologies Ltd. will post 7.83 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have issued reports on CHKP shares. Wedbush increased their target price on shares of Check Point Software Technologies from $200.00 to $230.00 and gave the stock an “outperform” rating in a report on Wednesday, October 9th. Needham & Company LLC reiterated a “hold” rating on shares of Check Point Software Technologies in a report on Thursday, July 25th. JPMorgan Chase & Co. upped their price target on Check Point Software Technologies from $175.00 to $180.00 and gave the stock a “neutral” rating in a report on Thursday, July 25th. Barclays lifted their price objective on Check Point Software Technologies from $175.00 to $192.00 and gave the company an “equal weight” rating in a research note on Thursday, July 25th. Finally, Susquehanna raised their target price on shares of Check Point Software Technologies from $200.00 to $215.00 and gave the company a “positive” rating in a report on Thursday, July 25th. Fifteen investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $192.56.

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.