Parsons Capital Management Inc. RI Sells 254 Shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Parsons Capital Management Inc. RI decreased its stake in Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 10.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,105 shares of the technology company’s stock after selling 254 shares during the period. Parsons Capital Management Inc. RI’s holdings in Check Point Software Technologies were worth $393,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in CHKP. FSA Wealth Management LLC purchased a new position in Check Point Software Technologies in the third quarter worth $27,000. GAMMA Investing LLC boosted its holdings 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 in the last quarter. Kathleen S. Wright Associates Inc. bought a new position in shares of Check Point Software Technologies during the 3rd quarter valued at about $33,000. Concord Wealth Partners purchased a new position in shares of Check Point Software Technologies during the 3rd quarter valued at about $37,000. Finally, Exchange Traded Concepts LLC lifted its position in Check Point Software Technologies by 142.7% in the 4th quarter. Exchange Traded Concepts LLC now owns 233 shares of the technology company’s stock worth $44,000 after buying an additional 137 shares during the last quarter. Institutional investors own 98.51% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on CHKP shares. Scotiabank lifted their price target on shares of Check Point Software Technologies from $200.00 to $215.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, January 21st. Citigroup lifted their target price on shares of Check Point Software Technologies from $185.00 to $190.00 and gave the stock a “neutral” rating in a research report on Friday, January 17th. Jefferies Financial Group boosted their price target on shares of Check Point Software Technologies from $220.00 to $225.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $200.00 price objective on shares of Check Point Software Technologies in a research note on Monday. Finally, Truist Financial boosted their target price on Check Point Software Technologies from $200.00 to $220.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Eighteen research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $203.05.

Check Point Software Technologies Trading Up 2.4 %

CHKP opened at $202.94 on Wednesday. The company has a market cap of $22.32 billion, a price-to-earnings ratio of 27.72, a price-to-earnings-growth ratio of 3.05 and a beta of 0.63. The stock has a fifty day simple moving average of $186.09 and a two-hundred day simple moving average of $186.88. Check Point Software Technologies Ltd. has a 12-month low of $145.75 and a 12-month high of $210.70.

Check Point Software Technologies (NASDAQ:CHKP) last issued its quarterly earnings results on Tuesday, October 29th. The technology company reported $2.25 earnings per share (EPS) for the quarter, hitting the consensus estimate of $2.25. Check Point Software Technologies had a net margin of 33.17% and a return on equity of 31.84%. The company had revenue of $635.10 million during the quarter, compared to analyst estimates of $634.96 million. During the same period last year, the business earned $1.80 EPS. Check Point Software Technologies’s quarterly revenue was up 6.5% compared to the same quarter last year. On average, analysts predict that Check Point Software Technologies Ltd. will post 7.87 EPS for the current year.

About Check Point Software Technologies

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.