California Public Employees Retirement System Reduces Position in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

California Public Employees Retirement System decreased its holdings in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP - Free Report) by 4.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 388,023 shares of the technology company's stock after selling 17,398 shares during the period. California Public Employees Retirement System owned 0.35% of Check Point Software Technologies worth $72,444,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. FSA Wealth Management LLC purchased a new stake in Check Point Software Technologies in the third quarter worth $27,000. GAMMA Investing LLC lifted its position in shares of Check Point Software Technologies by 53.1% in the 4th quarter. GAMMA Investing LLC now owns 173 shares of the technology company's stock worth $32,000 after purchasing an additional 60 shares during the period. Golden State Wealth Management LLC bought a new stake in shares of Check Point Software Technologies during the 4th quarter valued at about $35,000. Strategic Financial Concepts LLC purchased a new position in shares of Check Point Software Technologies during the fourth quarter valued at about $35,000. Finally, Exchange Traded Concepts LLC raised its stake in Check Point Software Technologies by 142.7% in the fourth quarter. Exchange Traded Concepts LLC now owns 233 shares of the technology company's stock worth $44,000 after buying an additional 137 shares in the last quarter. Hedge funds and other institutional investors own 98.51% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Stephens assumed coverage on Check Point Software Technologies in a report on Tuesday. They set an "equal weight" rating and a $255.00 target price on the stock. Needham & Company LLC reaffirmed a "hold" rating on shares of Check Point Software Technologies in a research note on Thursday, February 27th. Wells Fargo & Company raised Check Point Software Technologies from an "equal weight" rating to an "overweight" rating and raised their price objective for the company from $200.00 to $280.00 in a research report on Friday, March 14th. Barclays upped their target price on shares of Check Point Software Technologies from $200.00 to $230.00 and gave the stock an "equal weight" rating in a research report on Thursday, January 30th. Finally, Scotiabank lifted their price target on shares of Check Point Software Technologies from $215.00 to $250.00 and gave the company a "sector outperform" rating in a research report on Friday, January 31st. Sixteen investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $236.13.

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Check Point Software Technologies Stock Down 3.8 %

CHKP traded down $8.50 during mid-day trading on Friday, reaching $215.52. 1,263,663 shares of the company traded hands, compared to its average volume of 745,459. The company's fifty day moving average price is $220.78 and its 200-day moving average price is $199.70. The stock has a market capitalization of $23.70 billion, a P/E ratio of 28.85, a P/E/G ratio of 3.41 and a beta of 0.62. Check Point Software Technologies Ltd. has a 52-week low of $145.75 and a 52-week high of $234.36.

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.