Russell Investments Group Ltd. Sells 110,261 Shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Russell Investments Group Ltd. cut its position in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 36.4% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 192,654 shares of the technology company’s stock after selling 110,261 shares during the quarter. Russell Investments Group Ltd. owned 0.16% of Check Point Software Technologies worth $24,389,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of CHKP. Jupiter Asset Management Ltd. boosted its holdings in Check Point Software Technologies by 94.8% during the second quarter. Jupiter Asset Management Ltd. now owns 167,728 shares of the technology company’s stock worth $21,068,000 after purchasing an additional 81,625 shares during the last quarter. Cetera Advisor Networks LLC grew its holdings in shares of Check Point Software Technologies by 5.4% in the 2nd quarter. Cetera Advisor Networks LLC now owns 7,616 shares of the technology company’s stock valued at $957,000 after acquiring an additional 387 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Check Point Software Technologies by 1.3% during the second quarter. Charles Schwab Investment Management Inc. now owns 109,202 shares of the technology company’s stock worth $13,718,000 after acquiring an additional 1,452 shares in the last quarter. Citigroup Inc. boosted its position in Check Point Software Technologies by 1.8% during the second quarter. Citigroup Inc. now owns 98,915 shares of the technology company’s stock valued at $12,426,000 after purchasing an additional 1,775 shares during the last quarter. Finally, Intech Investment Management LLC increased its position in shares of Check Point Software Technologies by 2.9% during the 2nd quarter. Intech Investment Management LLC now owns 62,096 shares of the technology company’s stock worth $7,800,000 after purchasing an additional 1,726 shares during the last quarter. Institutional investors and hedge funds own 68.34% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on CHKP shares. StockNews.com assumed coverage on shares of Check Point Software Technologies in a report on Thursday, October 5th. They set a “buy” rating on the stock. Wedbush increased their price objective on Check Point Software Technologies from $135.00 to $150.00 and gave the stock an “outperform” rating in a research report on Thursday, July 27th. Royal Bank of Canada boosted their target price on shares of Check Point Software Technologies from $132.00 to $138.00 and gave the company a “sector perform” rating in a research report on Thursday, July 27th. Barclays lifted their price objective on shares of Check Point Software Technologies from $127.00 to $137.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 27th. Finally, Needham & Company LLC started coverage on shares of Check Point Software Technologies in a research report on Wednesday, October 25th. They set a “hold” rating on the stock. Two analysts have rated the stock with a sell rating, fifteen have issued a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, Check Point Software Technologies presently has a consensus rating of “Hold” and an average target price of $138.29.

Check Point Software Technologies Price Performance

CHKP opened at $142.53 on Tuesday. The company’s 50 day moving average price is $136.10 and its two-hundred day moving average price is $130.58. The firm has a market capitalization of $17.21 billion, a price-to-earnings ratio of 19.88, a PEG ratio of 2.54 and a beta of 0.64. Check Point Software Technologies Ltd. has a fifty-two week low of $117.18 and a fifty-two week high of $144.30.

Check Point Software Technologies (NASDAQ:CHKP) last issued its quarterly earnings data on Monday, October 30th. The technology company reported $2.07 earnings per share for the quarter, topping the consensus estimate of $2.02 by $0.05. The company had revenue of $596.30 million for the quarter, compared to analysts’ expectations of $591.85 million. Check Point Software Technologies had a net margin of 36.03% and a return on equity of 30.88%. Check Point Software Technologies’s revenue for the quarter was up 3.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.51 earnings per share. As a group, equities research analysts predict that Check Point Software Technologies Ltd. will post 7.26 EPS for the current 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.