California Public Employees Retirement System Sells 17,398 Shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP)

California Public Employees Retirement System reduced its holdings in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 4.3% during the fourth quarter, HoldingsChannel.com reports. The fund owned 388,023 shares of the technology company’s stock after selling 17,398 shares during the quarter. California Public Employees Retirement System’s holdings in Check Point Software Technologies were worth $72,444,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of CHKP. FSA Wealth Management LLC bought a new stake in shares of Check Point Software Technologies during the 3rd quarter worth $27,000. GAMMA Investing LLC raised its position in Check Point Software Technologies by 53.1% in the fourth quarter. GAMMA Investing LLC now owns 173 shares of the technology company’s stock worth $32,000 after acquiring an additional 60 shares during the period. Golden State Wealth Management LLC purchased a new position in Check Point Software Technologies in the fourth quarter valued at about $35,000. Strategic Financial Concepts LLC bought a new position in shares of Check Point Software Technologies during the 4th quarter valued at approximately $35,000. Finally, Exchange Traded Concepts LLC increased its stake in shares of 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. Hedge funds and other institutional investors own 98.51% of the company’s stock.

Check Point Software Technologies Price Performance

Shares of CHKP opened at $227.92 on Tuesday. The firm’s 50 day simple moving average is $218.38 and its 200 day simple moving average is $198.86. The company has a market capitalization of $25.07 billion, a P/E ratio of 30.51, a P/E/G ratio of 3.41 and a beta of 0.62. Check Point Software Technologies Ltd. has a 1-year low of $145.75 and a 1-year high of $234.36.

Analysts Set New Price Targets

CHKP has been the topic of several research analyst reports. Stifel Nicolaus upped their price objective on Check Point Software Technologies from $190.00 to $220.00 and gave the company a “hold” rating in a research note on Friday, January 31st. Guggenheim reiterated a “neutral” rating on shares of Check Point Software Technologies in a research note on Friday, January 31st. Bank of America upgraded Check Point Software Technologies from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $230.00 to $260.00 in a research note on Thursday, March 27th. JPMorgan Chase & Co. upgraded shares of Check Point Software Technologies from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $221.00 to $255.00 in a research report on Wednesday, February 26th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Check Point Software Technologies in a research report on Thursday, February 27th. Sixteen analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Check Point Software Technologies has an average rating of “Hold” and a consensus price target of $234.18.

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.