Tower Research Capital LLC TRC Sells 4,397 Shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Tower Research Capital LLC TRC lessened its holdings in Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 90.7% during the fourth quarter, Holdings Channel reports. The fund owned 449 shares of the technology company’s stock after selling 4,397 shares during the period. Tower Research Capital LLC TRC’s holdings in Check Point Software Technologies were worth $84,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. World Investment Advisors raised its position in shares of Check Point Software Technologies by 4.4% in the fourth quarter. World Investment Advisors now owns 30,041 shares of the technology company’s stock valued at $5,609,000 after purchasing an additional 1,278 shares during the period. Crux Wealth Advisors bought a new position in Check Point Software Technologies in the 4th quarter valued at about $542,000. Truist Financial Corp lifted its position in Check Point Software Technologies by 2.6% during the fourth quarter. Truist Financial Corp now owns 119,504 shares of the technology company’s stock worth $22,311,000 after acquiring an additional 3,080 shares during the last quarter. Vestmark Advisory Solutions Inc. boosted its holdings in shares of Check Point Software Technologies by 99.3% during the fourth quarter. Vestmark Advisory Solutions Inc. now owns 4,973 shares of the technology company’s stock worth $928,000 after acquiring an additional 2,478 shares during the period. Finally, Hickory Asset Management Inc. acquired a new position in shares of Check Point Software Technologies in the fourth quarter valued at approximately $476,000. Institutional investors and hedge funds own 98.51% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Arete Research raised Check Point Software Technologies to a “hold” rating in a report on Monday, February 24th. Jefferies Financial Group lifted their target price on Check Point Software Technologies from $250.00 to $255.00 and gave the stock a “buy” rating in a report on Thursday, February 27th. BMO Capital Markets restated an “outperform” rating and issued a $250.00 price target on shares of Check Point Software Technologies in a research note on Wednesday, April 23rd. UBS Group lifted their price objective on shares of Check Point Software Technologies from $200.00 to $230.00 and gave the stock a “neutral” rating in a research note on Friday, January 31st. Finally, Compass Point set a $260.00 target price on shares of Check Point Software Technologies in a research report on Thursday, March 27th. Eighteen research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Check Point Software Technologies has an average rating of “Hold” and a consensus target price of $232.04.

Check Point Software Technologies Price Performance

Shares of NASDAQ:CHKP opened at $217.59 on Friday. The firm has a 50 day simple moving average of $220.18 and a 200 day simple moving average of $202.77. The company has a market cap of $23.93 billion, a price-to-earnings ratio of 29.13, a PEG ratio of 3.41 and a beta of 0.66. Check Point Software Technologies Ltd. has a one year low of $145.75 and a one year high of $234.36.

Check Point Software Technologies (NASDAQ:CHKP) last released its quarterly earnings data on Wednesday, April 23rd. The technology company reported $2.21 earnings per share for the quarter, beating the consensus estimate of $2.19 by $0.02. Check Point Software Technologies had a return on equity of 32.40% and a net margin of 32.97%. The company had revenue of $637.80 million for the quarter, compared to the consensus estimate of $635.80 million. During the same quarter last year, the business posted $2.04 EPS. Check Point Software Technologies’s revenue for the quarter was up 6.5% on a year-over-year basis. As a group, analysts expect that Check Point Software Technologies Ltd. will post 8.61 EPS for the current year.

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.