Prio Wealth Limited Partnership Reduces Stock Position in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Prio Wealth Limited Partnership lessened its stake in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 3.6% during the second quarter, HoldingsChannel.com reports. The fund owned 19,877 shares of the technology company’s stock after selling 732 shares during the quarter. Prio Wealth Limited Partnership’s holdings in Check Point Software Technologies were worth $3,280,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Check Point Software Technologies during the 2nd quarter valued at about $30,000. Concord Wealth Partners purchased a new position in shares of Check Point Software Technologies in the first quarter worth approximately $31,000. Richardson Financial Services Inc. purchased a new position in shares of Check Point Software Technologies in the fourth quarter worth approximately $33,000. Transcendent Capital Group LLC purchased a new position in shares of Check Point Software Technologies in the first quarter worth approximately $107,000. Finally, Alaska Permanent Fund Corp purchased a new position in shares of Check Point Software Technologies in the first quarter worth approximately $117,000. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Scotiabank raised their price objective on shares of Check Point Software Technologies from $180.00 to $200.00 and gave the stock a “sector outperform” rating in a report on Thursday, July 25th. Robert W. Baird raised their price objective on shares of Check Point Software Technologies from $168.00 to $200.00 and gave the stock a “neutral” rating in a report on Thursday, July 25th. Truist Financial reissued a “buy” rating and issued a $200.00 price objective (up previously from $175.00) on shares of Check Point Software Technologies in a report on Thursday, July 25th. Royal Bank of Canada raised their price objective on shares of Check Point Software Technologies from $165.00 to $187.00 and gave the stock a “sector perform” rating in a report on Thursday, July 25th. Finally, Needham & Company LLC restated a “hold” rating on shares of Check Point Software Technologies in a research note on Thursday, July 25th. Sixteen analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $184.47.

Check Point Software Technologies Stock Performance

Shares of CHKP opened at $188.99 on Wednesday. The company’s fifty day moving average is $187.55 and its 200 day moving average is $169.37. Check Point Software Technologies Ltd. has a fifty-two week low of $126.57 and a fifty-two week high of $196.56. The stock has a market capitalization of $21.34 billion, a PE ratio of 26.25, a P/E/G ratio of 3.05 and a beta of 0.62.

Check Point Software Technologies (NASDAQ:CHKP) last announced its quarterly earnings results on Wednesday, July 24th. The technology company reported $2.17 earnings per share for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $623.19 million. During the same quarter in the previous year, the business posted $1.74 earnings per share. Check Point Software Technologies’s quarterly revenue was up 6.6% on a year-over-year basis. As a group, research analysts forecast that Check Point Software Technologies Ltd. will post 7.83 earnings per share for the current year.

Check Point Software Technologies 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.