Check Point Software Technologies Ltd. (NASDAQ:CHKP) Position Trimmed by D. E. Shaw & Co. Inc.

D. E. Shaw & Co. Inc. cut its position in Check Point Software Technologies Ltd. (NASDAQ:CHKP - Free Report) by 20.9% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 537,587 shares of the technology company's stock after selling 142,371 shares during the quarter. D. E. Shaw & Co. Inc. owned approximately 0.48% of Check Point Software Technologies worth $88,702,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Argonautica Private Wealth Management Inc. raised its position in Check Point Software Technologies by 1.3% in the 2nd quarter. Argonautica Private Wealth Management Inc. now owns 5,928 shares of the technology company's stock valued at $978,000 after purchasing an additional 78 shares during the last quarter. Guardian Wealth Management Inc. raised its holdings in shares of Check Point Software Technologies by 0.5% in the fourth quarter. Guardian Wealth Management Inc. now owns 18,633 shares of the technology company's stock valued at $2,847,000 after buying an additional 85 shares during the last quarter. Heron Bay Capital Management boosted its stake in shares of Check Point Software Technologies by 0.3% during the second quarter. Heron Bay Capital Management now owns 32,873 shares of the technology company's stock worth $5,424,000 after buying an additional 92 shares during the period. Mather Group LLC. grew its holdings in shares of Check Point Software Technologies by 5.1% during the second quarter. Mather Group LLC. now owns 2,056 shares of the technology company's stock worth $337,000 after buying an additional 99 shares during the last quarter. Finally, Butensky & Cohen Financial Security Inc. increased its position in Check Point Software Technologies by 0.4% in the 1st quarter. Butensky & Cohen Financial Security Inc. now owns 26,472 shares of the technology company's stock valued at $4,342,000 after acquiring an additional 102 shares during the period. Hedge funds and other institutional investors own 87.62% of the company's stock.

Check Point Software Technologies Price Performance

CHKP stock traded up $0.13 during trading on Friday, reaching $195.13. 56,580 shares of the stock traded hands, compared to its average volume of 673,562. The firm has a market capitalization of $22.03 billion, a PE ratio of 27.08, a P/E/G ratio of 3.05 and a beta of 0.62. The business's 50 day moving average price is $186.27 and its 200-day moving average price is $168.74. Check Point Software Technologies Ltd. has a 52-week low of $126.57 and a 52-week high of $196.56.

Check Point Software Technologies (NASDAQ:CHKP - Get Free Report) last issued its earnings results on Wednesday, July 24th. The technology company reported $2.17 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.16 by $0.01. Check Point Software Technologies had a return on equity of 31.59% and a net margin of 33.61%. The business had revenue of $627.40 million during the quarter, compared to analysts' expectations of $623.19 million. During the same quarter in the previous year, the business earned $1.74 EPS. The company's revenue for the quarter was up 6.6% on a year-over-year basis. On average, equities research analysts predict that Check Point Software Technologies Ltd. will post 7.83 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Susquehanna lifted their target price on Check Point Software Technologies from $200.00 to $215.00 and gave the company a "positive" rating in a research note on Thursday, July 25th. 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. JPMorgan Chase & Co. upped their price objective on shares of Check Point Software Technologies from $175.00 to $180.00 and gave the stock a "neutral" rating in a research report on Thursday, July 25th. Royal Bank of Canada lifted their target price on shares of Check Point Software Technologies from $165.00 to $187.00 and gave the company a "sector perform" rating in a report on Thursday, July 25th. Finally, BMO Capital Markets increased their price target on shares of Check Point Software Technologies from $180.00 to $200.00 and gave the stock a "market perform" rating in a report on Thursday, July 25th. Sixteen equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $184.47.

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.