Check Point Software Technologies Ltd. (NASDAQ:CHKP) Shares Sold by Welch & Forbes LLC

Welch & Forbes LLC cut its holdings in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 0.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 36,054 shares of the technology company’s stock after selling 75 shares during the quarter. Welch & Forbes LLC’s holdings in Check Point Software Technologies were worth $5,509,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of CHKP. BSW Wealth Partners increased its position in shares of Check Point Software Technologies by 3.7% during the fourth quarter. BSW Wealth Partners now owns 2,162 shares of the technology company’s stock worth $330,000 after purchasing an additional 78 shares in the last quarter. Pacer Advisors Inc. lifted its holdings in shares of Check Point Software Technologies by 6.9% in the 4th quarter. Pacer Advisors Inc. now owns 1,383 shares of the technology company’s stock valued at $211,000 after buying an additional 89 shares during the period. Dark Forest Capital Management LP grew its stake in shares of Check Point Software Technologies by 2.1% during the 3rd quarter. Dark Forest Capital Management LP now owns 5,126 shares of the technology company’s stock worth $683,000 after purchasing an additional 103 shares during the period. Brookstone Capital Management boosted its holdings in Check Point Software Technologies by 1.7% during the fourth quarter. Brookstone Capital Management now owns 6,175 shares of the technology company’s stock worth $943,000 after buying an additional 103 shares in the last quarter. Finally, Industrial Alliance Investment Management Inc. increased its holdings in Check Point Software Technologies by 8.4% in the third quarter. Industrial Alliance Investment Management Inc. now owns 1,386 shares of the technology company’s stock valued at $185,000 after buying an additional 107 shares in the last quarter. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CHKP has been the subject of several research reports. Royal Bank of Canada lifted their price objective on Check Point Software Technologies from $159.00 to $165.00 and gave the stock a “sector perform” rating in a report on Wednesday, February 7th. TD Cowen raised their price objective on Check Point Software Technologies from $180.00 to $205.00 and gave the stock an “outperform” rating in a report on Monday, March 18th. UBS Group raised their price objective on Check Point Software Technologies from $140.00 to $170.00 and gave the company a “neutral” rating in a research note on Wednesday, January 10th. BMO Capital Markets increased their target price on Check Point Software Technologies from $175.00 to $185.00 and gave the company a “market perform” rating in a research note on Wednesday, February 7th. Finally, William Blair upgraded shares of Check Point Software Technologies from a “market perform” rating to an “outperform” rating in a research note on Wednesday, January 31st. Twelve equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $169.18.

Check Point Software Technologies Stock Performance

Shares of NASDAQ CHKP traded up $2.07 during mid-day trading on Tuesday, reaching $154.74. The company had a trading volume of 509,357 shares, compared to its average volume of 721,031. The stock has a fifty day moving average of $160.24 and a two-hundred day moving average of $153.91. Check Point Software Technologies Ltd. has a 12-month low of $118.21 and a 12-month high of $168.82. The company has a market capitalization of $18.69 billion, a price-to-earnings ratio of 21.49, a PEG ratio of 2.46 and a beta of 0.64.

Check Point Software Technologies (NASDAQ:CHKP) last issued its earnings results on Thursday, April 25th. The technology company reported $1.72 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.72. Check Point Software Technologies had a net margin of 34.33% and a return on equity of 31.42%. The company had revenue of $598.80 million during the quarter, compared to analyst estimates of $595.28 million. Sell-side analysts forecast that Check Point Software Technologies Ltd. will post 7.79 earnings per share for the current fiscal 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.