Vestcor Inc Sells 2,907 Shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Vestcor Inc cut its holdings in Check Point Software Technologies Ltd. (NASDAQ:CHKP - Free Report) by 3.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 79,936 shares of the technology company's stock after selling 2,907 shares during the period. Vestcor Inc owned about 0.07% of Check Point Software Technologies worth $14,924,000 at the end of the most recent quarter.

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

Check Point Software Technologies Stock Performance

NASDAQ:CHKP traded down $3.09 during midday trading on Thursday, reaching $214.90. 1,341,857 shares of the stock traded hands, compared to its average volume of 1,000,768. The stock has a market capitalization of $23.64 billion, a P/E ratio of 28.77, a PEG ratio of 3.41 and a beta of 0.62. The company has a fifty day moving average of $207.51 and a 200 day moving average of $195.49. Check Point Software Technologies Ltd. has a 12 month low of $145.75 and a 12 month high of $230.65.

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Wall Street Analyst Weigh In

Several brokerages have recently commented on CHKP. JPMorgan Chase & Co. raised shares of Check Point Software Technologies from a "neutral" rating to an "overweight" rating and raised their price objective for the stock from $221.00 to $255.00 in a research report on Wednesday, February 26th. Baird R W raised Check Point Software Technologies from a "hold" rating to a "strong-buy" rating in a research report on Thursday, February 27th. Robert W. Baird upgraded shares of Check Point Software Technologies from a "neutral" rating to an "outperform" rating and boosted their price target for the stock from $235.00 to $255.00 in a report on Thursday, February 27th. Susquehanna increased their price objective on shares of Check Point Software Technologies from $215.00 to $255.00 and gave the company a "positive" rating in a research note on Friday, January 31st. Finally, Mizuho upped their target price on Check Point Software Technologies from $220.00 to $230.00 and gave the company a "neutral" rating in a report on Wednesday, February 26th. Eighteen investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $224.86.

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.