Brookstone Capital Management Reduces Stock Position in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Brookstone Capital Management lowered its position in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 3.1% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,983 shares of the technology company’s stock after selling 192 shares during the period. Brookstone Capital Management’s holdings in Check Point Software Technologies were worth $981,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Boston Partners boosted its position in Check Point Software Technologies by 5.0% during the 4th quarter. Boston Partners now owns 3,204,519 shares of the technology company’s stock valued at $489,700,000 after buying an additional 151,657 shares during the period. Legal & General Group Plc boosted its position in Check Point Software Technologies by 3.4% during the 3rd quarter. Legal & General Group Plc now owns 1,626,814 shares of the technology company’s stock valued at $216,822,000 after buying an additional 52,863 shares during the period. Ariel Investments LLC raised its holdings in Check Point Software Technologies by 121.2% in the 3rd quarter. Ariel Investments LLC now owns 1,083,364 shares of the technology company’s stock worth $144,391,000 after purchasing an additional 593,623 shares in the last quarter. Morningstar Investment Services LLC raised its holdings in Check Point Software Technologies by 98.5% in the 4th quarter. Morningstar Investment Services LLC now owns 970,634 shares of the technology company’s stock worth $148,080,000 after purchasing an additional 481,626 shares in the last quarter. Finally, Westwood Global Investments LLC raised its holdings in Check Point Software Technologies by 15.0% in the 4th quarter. Westwood Global Investments LLC now owns 798,024 shares of the technology company’s stock worth $121,930,000 after purchasing an additional 104,082 shares in the last quarter. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Check Point Software Technologies Stock Performance

NASDAQ:CHKP opened at $165.00 on Friday. The firm has a market cap of $18.63 billion, a P/E ratio of 22.92, a P/E/G ratio of 2.57 and a beta of 0.61. Check Point Software Technologies Ltd. has a fifty-two week low of $122.86 and a fifty-two week high of $168.82. The firm has a 50-day simple moving average of $154.15 and a two-hundred day simple moving average of $157.38.

Check Point Software Technologies (NASDAQ:CHKP) last announced its quarterly 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. The firm had revenue of $598.80 million for the quarter, compared to the consensus estimate of $595.28 million. Check Point Software Technologies had a net margin of 34.33% and a return on equity of 31.42%. On average, equities research analysts predict that Check Point Software Technologies Ltd. will post 7.79 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Barclays upped their price objective on shares of Check Point Software Technologies from $170.00 to $175.00 and gave the stock an “equal weight” rating in a report on Friday, April 26th. Needham & Company LLC restated a “hold” rating on shares of Check Point Software Technologies in a report on Friday, April 26th. Stifel Nicolaus decreased their price objective on shares of Check Point Software Technologies from $170.00 to $165.00 and set a “hold” rating for the company in a report on Friday, April 26th. Mizuho restated a “neutral” rating and issued a $160.00 price objective on shares of Check Point Software Technologies in a report on Wednesday, March 27th. Finally, KeyCorp upgraded shares of Check Point Software Technologies to a “hold” rating in a research note on Tuesday, May 14th. Thirteen investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $169.18.

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.