Check Point Software Technologies Ltd. (NASDAQ:CHKP) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D reduced its holdings in Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 32.4% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 40,507 shares of the technology company’s stock after selling 19,393 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Check Point Software Technologies were worth $6,684,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Check Point Software Technologies in the 2nd quarter worth about $30,000. Concord Wealth Partners bought a new position in shares of Check Point Software Technologies in the 1st quarter worth about $31,000. Richardson Financial Services Inc. bought a new position in shares of Check Point Software Technologies in the 4th quarter worth about $33,000. Annis Gardner Whiting Capital Advisors LLC bought a new position in shares of Check Point Software Technologies in the 4th quarter worth about $92,000. Finally, Transcendent Capital Group LLC bought a new position in shares of Check Point Software Technologies in the 1st quarter worth about $107,000. 87.62% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on CHKP. Truist Financial restated a “buy” rating and issued a $200.00 price target (up from $175.00) on shares of Check Point Software Technologies in a research report on Thursday, July 25th. Susquehanna lifted their price objective on shares of Check Point Software Technologies from $200.00 to $215.00 and gave the company a “positive” rating in a research report 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. BMO Capital Markets lifted their price objective on shares of Check Point Software Technologies from $180.00 to $200.00 and gave the company a “market perform” rating in a research report on Thursday, July 25th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Check Point Software Technologies from $175.00 to $185.00 and gave the company a “hold” rating in a research report on Thursday, July 25th. Fifteen equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $183.68.

Check Point Software Technologies Price Performance

Shares of CHKP opened at $195.17 on Monday. The firm’s 50 day moving average is $182.33 and its 200-day moving average is $166.70. The stock has a market capitalization of $22.04 billion, a P/E ratio of 27.11, a P/E/G ratio of 2.96 and a beta of 0.62. Check Point Software Technologies Ltd. has a 12-month low of $126.57 and a 12-month high of $195.29.

Check Point Software Technologies (NASDAQ:CHKP) last announced its quarterly earnings data on Wednesday, July 24th. The technology company reported $2.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.16 by $0.01. The company had revenue of $627.40 million for 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%. The business’s revenue was up 6.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.74 EPS. As a group, equities research analysts forecast that Check Point Software Technologies Ltd. will post 7.83 EPS for the current fiscal year.

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.