Check Point Software Technologies Ltd. (NASDAQ:CHKP) Shares Sold by Employees Retirement System of Texas

Employees Retirement System of Texas trimmed its holdings in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 27.5% in the fourth quarter, HoldingsChannel reports. The firm owned 21,304 shares of the technology company’s stock after selling 8,096 shares during the period. Employees Retirement System of Texas’ holdings in Check Point Software Technologies were worth $39,775,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of CHKP. Truist Financial Corp grew its holdings in Check Point Software Technologies by 2.6% during the 4th quarter. Truist Financial Corp now owns 119,504 shares of the technology company’s stock valued at $22,311,000 after buying an additional 3,080 shares during the last quarter. Vestmark Advisory Solutions Inc. lifted its position in shares of Check Point Software Technologies by 99.3% in the fourth quarter. Vestmark Advisory Solutions Inc. now owns 4,973 shares of the technology company’s stock valued at $928,000 after acquiring an additional 2,478 shares in the last quarter. MML Investors Services LLC boosted its stake in shares of Check Point Software Technologies by 3.7% during the third quarter. MML Investors Services LLC now owns 103,507 shares of the technology company’s stock valued at $19,957,000 after acquiring an additional 3,655 shares during the last quarter. Hickory Asset Management Inc. purchased a new stake in Check Point Software Technologies during the 4th quarter worth about $476,000. Finally, Assetmark Inc. raised its stake in Check Point Software Technologies by 44.1% in the 4th quarter. Assetmark Inc. now owns 140,943 shares of the technology company’s stock valued at $26,314,000 after purchasing an additional 43,165 shares during the last quarter. 98.51% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on CHKP. Needham & Company LLC reaffirmed a “hold” rating on shares of Check Point Software Technologies in a research note on Thursday, February 27th. Arete Research upgraded Check Point Software Technologies to a “hold” rating in a report on Monday, February 24th. Susquehanna upped their price objective on Check Point Software Technologies from $215.00 to $255.00 and gave the stock a “positive” rating in a report on Friday, January 31st. Robert W. Baird upgraded Check Point Software Technologies from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $235.00 to $255.00 in a report on Thursday, February 27th. Finally, Wells Fargo & Company raised Check Point Software Technologies from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $200.00 to $280.00 in a research note on Friday, March 14th. Sixteen analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $236.13.

Check Point Software Technologies Stock Performance

Shares of CHKP stock opened at $215.52 on Monday. The stock has a market capitalization of $23.70 billion, a price-to-earnings ratio of 28.85, a PEG ratio of 3.41 and a beta of 0.62. Check Point Software Technologies Ltd. has a one year low of $145.75 and a one year high of $234.36. The company’s 50-day simple moving average is $220.78 and its 200-day simple moving average is $199.77.

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.