Victory Capital Management Inc. Sells 12,275 Shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Victory Capital Management Inc. lessened its stake in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 20.6% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 47,188 shares of the technology company’s stock after selling 12,275 shares during the period. Victory Capital Management Inc.’s holdings in Check Point Software Technologies were worth $9,098,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in CHKP. Swedbank AB purchased a new stake in shares of Check Point Software Technologies in the first quarter worth about $69,487,000. Boston Partners grew its stake in Check Point Software Technologies by 13.1% in the first quarter. Boston Partners now owns 3,623,923 shares of the technology company’s stock worth $594,169,000 after purchasing an additional 419,404 shares in the last quarter. Acadian Asset Management LLC grew its stake in Check Point Software Technologies by 10.5% in the second quarter. Acadian Asset Management LLC now owns 4,108,685 shares of the technology company’s stock worth $677,869,000 after purchasing an additional 391,983 shares in the last quarter. Marshall Wace LLP bought a new stake in Check Point Software Technologies during the 2nd quarter valued at $47,244,000. Finally, Meitav Investment House Ltd. boosted its position in Check Point Software Technologies by 1,295.8% during the 2nd quarter. Meitav Investment House Ltd. now owns 209,612 shares of the technology company’s stock valued at $34,557,000 after acquiring an additional 194,595 shares in the last quarter. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

Check Point Software Technologies Price Performance

Shares of CHKP opened at $181.99 on Friday. Check Point Software Technologies Ltd. has a 1-year low of $143.28 and a 1-year high of $210.70. The stock has a market cap of $20.02 billion, a PE ratio of 24.86, a price-to-earnings-growth ratio of 2.97 and a beta of 0.63. The firm has a fifty day moving average price of $190.48 and a 200 day moving average price of $176.79.

Check Point Software Technologies (NASDAQ:CHKP) last announced its quarterly earnings results on Tuesday, October 29th. The technology company reported $2.25 earnings per share for the quarter, meeting analysts’ consensus estimates of $2.25. Check Point Software Technologies had a net margin of 33.17% and a return on equity of 31.84%. The firm had revenue of $635.10 million during the quarter, compared to analysts’ expectations of $634.96 million. During the same period in the previous year, the company earned $1.80 earnings per share. Check Point Software Technologies’s quarterly revenue was up 6.5% compared to the same quarter last year. As a group, equities analysts expect that Check Point Software Technologies Ltd. will post 7.87 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on CHKP. Scotiabank increased their price objective on Check Point Software Technologies from $180.00 to $200.00 and gave the company a “sector outperform” rating in a report on Thursday, July 25th. Mizuho raised their target price on Check Point Software Technologies from $178.00 to $205.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Susquehanna lifted their price objective on Check Point Software Technologies from $200.00 to $215.00 and gave the stock a “positive” rating in a report on Thursday, July 25th. Royal Bank of Canada reissued a “sector perform” rating and issued a $187.00 target price on shares of Check Point Software Technologies in a research note on Wednesday, October 30th. Finally, BMO Capital Markets lifted their price target on shares of Check Point Software Technologies from $200.00 to $238.00 and gave the company a “market perform” rating in a research report on Friday, October 25th. Fifteen analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $197.74.

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.