Victory Capital Management Inc. Sells 1,834 Shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Victory Capital Management Inc. cut its stake in Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 3.0% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 59,463 shares of the technology company’s stock after selling 1,834 shares during the quarter. Victory Capital Management Inc. owned 0.05% of Check Point Software Technologies worth $9,811,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Sterling Investment Advisors Ltd. boosted its position in Check Point Software Technologies by 26.3% in the second quarter. Sterling Investment Advisors Ltd. now owns 1,920 shares of the technology company’s stock worth $317,000 after purchasing an additional 400 shares during the last quarter. Hohimer Wealth Management LLC raised its stake in shares of Check Point Software Technologies by 7.6% in the second quarter. Hohimer Wealth Management LLC now owns 18,761 shares of the technology company’s stock worth $3,096,000 after buying an additional 1,326 shares during the period. TD Asset Management Inc increased its holdings in Check Point Software Technologies by 3.9% in the 2nd quarter. TD Asset Management Inc now owns 39,465 shares of the technology company’s stock worth $6,512,000 after acquiring an additional 1,470 shares in the last quarter. FSB Premier Wealth Management Inc. bought a new stake in Check Point Software Technologies during the 2nd quarter worth approximately $245,000. Finally, Rhumbline Advisers boosted its position in shares of Check Point Software Technologies by 5.5% in the second quarter. Rhumbline Advisers now owns 46,134 shares of the technology company’s stock worth $7,612,000 after purchasing an additional 2,404 shares during the period. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on CHKP. BMO Capital Markets upped their target price on shares of Check Point Software Technologies from $180.00 to $200.00 and gave the stock a “market perform” rating in a report on Thursday, July 25th. Barclays upped their price target on Check Point Software Technologies from $175.00 to $192.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 25th. Royal Bank of Canada lifted their price objective on shares of Check Point Software Technologies from $165.00 to $187.00 and gave the company a “sector perform” rating in a research report on Thursday, July 25th. Scotiabank raised their target price on shares of Check Point Software Technologies from $180.00 to $200.00 and gave the company a “sector outperform” rating in a research note on Thursday, July 25th. Finally, Truist Financial reissued a “buy” rating and set a $200.00 price objective (up previously from $175.00) on shares of Check Point Software Technologies in a report on Thursday, July 25th. Fifteen analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $183.68.

Check Point Software Technologies Price Performance

Shares of CHKP stock opened at $195.17 on Friday. The stock’s fifty day moving average price is $182.33 and its 200 day moving average price is $166.67. Check Point Software Technologies Ltd. has a 1-year low of $126.57 and a 1-year high of $195.29. The company has a market cap of $22.04 billion, a price-to-earnings ratio of 27.11, a price-to-earnings-growth ratio of 2.96 and a beta of 0.62.

Check Point Software Technologies (NASDAQ:CHKP) last released its earnings results on Wednesday, July 24th. The technology company reported $2.17 EPS for the quarter, topping analysts’ consensus estimates of $2.16 by $0.01. The company had revenue of $627.40 million during the quarter, compared to analysts’ expectations of $623.19 million. Check Point Software Technologies had a net margin of 33.61% and a return on equity of 31.59%. Check Point Software Technologies’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same period last year, the business earned $1.74 EPS. As a group, equities research analysts anticipate that Check Point Software Technologies Ltd. will post 7.83 earnings per share for the current year.

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.