Check Point Software Technologies Ltd. $CHKP Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund lessened its holdings in Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 9.2% during the 3rd quarter, Holdings Channel reports. The firm owned 147,300 shares of the technology company’s stock after selling 14,962 shares during the quarter. New York State Common Retirement Fund’s holdings in Check Point Software Technologies were worth $30,478,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Legacy Investment Solutions LLC purchased a new stake in Check Point Software Technologies in the 2nd quarter valued at approximately $25,000. Louisbourg Investments Inc. acquired a new position in shares of Check Point Software Technologies in the third quarter worth $29,000. First Horizon Corp acquired a new position in shares of Check Point Software Technologies in the third quarter worth $38,000. Heartwood Wealth Advisors LLC purchased a new stake in shares of Check Point Software Technologies in the third quarter valued at $42,000. Finally, Richardson Financial Services Inc. boosted its stake in shares of Check Point Software Technologies by 63.2% during the third quarter. Richardson Financial Services Inc. now owns 204 shares of the technology company’s stock valued at $42,000 after acquiring an additional 79 shares during the last quarter. 98.51% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on CHKP. Scotiabank reissued a “sector perform” rating and issued a $195.00 target price on shares of Check Point Software Technologies in a research note on Wednesday, January 21st. Royal Bank Of Canada cut their price objective on shares of Check Point Software Technologies from $215.00 to $195.00 and set a “sector perform” rating for the company in a research report on Monday, January 5th. KeyCorp raised shares of Check Point Software Technologies to a “hold” rating in a research note on Monday, January 12th. Citigroup lowered their target price on shares of Check Point Software Technologies from $210.00 to $200.00 and set a “neutral” rating for the company in a research note on Tuesday, January 13th. Finally, BMO Capital Markets increased their price target on Check Point Software Technologies from $215.00 to $240.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 29th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and twelve have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $226.62.

Check Point Software Technologies Stock Up 0.7%

Shares of NASDAQ CHKP opened at $179.51 on Friday. The stock has a market capitalization of $19.74 billion, a PE ratio of 19.66, a P/E/G ratio of 2.86 and a beta of 0.59. The firm has a fifty day moving average of $187.10 and a 200-day moving average of $193.67. Check Point Software Technologies Ltd. has a 52-week low of $173.56 and a 52-week high of $234.35.

Check Point Software Technologies (NASDAQ:CHKP) last issued its earnings results on Tuesday, October 28th. The technology company reported $3.94 earnings per share for the quarter, topping the consensus estimate of $2.45 by $1.49. Check Point Software Technologies had a return on equity of 37.91% and a net margin of 37.62%.The business had revenue of $677.50 million for the quarter, compared to analyst estimates of $673.60 million. During the same period last year, the company posted $2.25 EPS. The business’s quarterly revenue was up 6.7% on a year-over-year basis. Equities research analysts expect that Check Point Software Technologies Ltd. will post 8.61 EPS for the current fiscal year.

About Check Point Software Technologies

Check Point Software Technologies Ltd. is an Israeli-founded cybersecurity company that develops, markets and supports a broad portfolio of network, cloud and endpoint security products. Founded in 1993, the company was an early pioneer of stateful inspection firewall technology and later developed a modular “software blade” approach that allowed customers to combine protection capabilities. Check Point’s product set spans physical and virtual security appliances, software and cloud-native services designed to prevent cyberattacks, protect data and simplify security management for enterprises and service providers.

Key product families include Quantum Security Gateways (on-premises and hybrid appliances), CloudGuard (cloud security posture and workload protection), Harmony (endpoint, remote access and unified endpoint security), and SandBlast (advanced threat prevention and sandboxing).