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

Welch & Forbes LLC lessened its stake in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 2.6% during the fourth quarter, HoldingsChannel reports. The firm owned 34,354 shares of the technology company’s stock after selling 918 shares during the period. Welch & Forbes LLC’s holdings in Check Point Software Technologies were worth $6,414,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of CHKP. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Check Point Software Technologies by 73.8% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,094,887 shares of the technology company’s stock worth $211,105,000 after purchasing an additional 464,821 shares in the last quarter. World Investment Advisors LLC acquired a new position in shares of Check Point Software Technologies during the third quarter worth about $51,922,000. FMR LLC lifted its stake in shares of Check Point Software Technologies by 28.7% during the third quarter. FMR LLC now owns 1,133,175 shares of the technology company’s stock worth $218,488,000 after purchasing an additional 252,581 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Check Point Software Technologies in the fourth quarter worth about $38,558,000. Finally, Boston Trust Walden Corp lifted its stake in shares of Check Point Software Technologies by 26.9% in the fourth quarter. Boston Trust Walden Corp now owns 487,283 shares of the technology company’s stock worth $90,976,000 after acquiring an additional 103,388 shares in the last quarter. Institutional investors and hedge funds own 98.51% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on CHKP. Baird R W upgraded Check Point Software Technologies from a “hold” rating to a “strong-buy” rating in a research note on Thursday, February 27th. Citigroup boosted their price target on Check Point Software Technologies from $185.00 to $190.00 and gave the stock a “neutral” rating in a research note on Friday, January 17th. The Goldman Sachs Group cut Check Point Software Technologies from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $204.00 to $207.00 in a research note on Thursday, January 2nd. Morgan Stanley boosted their price target on Check Point Software Technologies from $183.00 to $200.00 and gave the stock an “equal weight” rating in a research note on Friday, January 31st. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $215.00 price target on shares of Check Point Software Technologies in a research note on Thursday, February 27th. Seventeen research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $224.86.

Check Point Software Technologies Trading Up 0.8 %

NASDAQ:CHKP opened at $223.48 on Friday. The firm has a market capitalization of $24.58 billion, a PE ratio of 29.92, a price-to-earnings-growth ratio of 3.41 and a beta of 0.62. The stock has a 50 day moving average of $203.96 and a 200-day moving average of $194.35. Check Point Software Technologies Ltd. has a 52 week low of $145.75 and a 52 week high of $226.02.

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.