Citigroup Inc. has acquired its stake in Check Point Software Technologies Ltd. (NASDAQ:CHKP – Free Report) fell 41.8% in the third quarter, the company said in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 56,461 shares of the technology company, after selling 40,525 shares during the period. Citigroup Inc. owned about 0.05% of Check Point Software Technologies worth $10,886,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in CHKP. Kathleen S. Wright Associates Inc. bought a new position in shares of Check Point Software Technologies in the third quarter worth $33,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in Check Point Software Technologies in the second quarter worth approximately $30,000. Concord Wealth Partners acquired a new stake in shares of Check Point Software Technologies during the third quarter worth approximately $37,000. Arrow Financial Corp grew its holdings in shares of Check Point Software Technologies by 62.5% in the third quarter. Arrow Financial Corp now owns 260 shares of the technology company’s stock worth $50,000 after purchasing an additional 100 shares in the last quarter. Finally, FSC Wealth Advisors LLC acquired a new position in shares of Check Point Software Technologies in the 3rd quarter valued at approximately $60,000. Institutional investors and hedge funds own 87.62% of the company’s shares.
Check Point Software Technologies Price-Performance
Shares of Check Point Software Technologies opened at $181.55 on Friday. The stock has a fifty-day moving average of $189.48 and a 200-day moving average of $177.79. The company has a market cap of $19.97 billion, a price-to-earnings ratio of 24.80, a price-to-earnings ratio of 3.12, and a beta of 0.63. Check Point Software Technologies Ltd. has a 1-year low of $143.28 and a 1-year high of $210.70.
Check Point Software Technologies (NASDAQ:CHKP – Get Free Report) last reported its quarterly earnings data on Tuesday, October 29th. The technology company reported $2.25 earnings per share for the quarter, meeting 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 for the quarter, compared to analyst estimates of $634.96 million. In the same quarter of the previous year, the company posted earnings per share of $1.80. The company’s revenue rose 6.5% year over year this quarter. As a group, equity analysts expect Check Point Software Technologies Ltd. will record a profit per share of 7.87 for the current financial year.
Wall Street analysts weigh in
Several analysts have recently expressed their opinions on the stock. Mizuho raised their price objective on shares of Check Point Software Technologies from $178.00 to $205.00 and gave the company a “neutral” rating in a research note on Thursday, October 17. BMO Capital Markets lifted their price objective on shares of Check Point Software Technologies from $200.00 to $238.00 and gave the company a “market perform” rating in a report on Friday, October 25. JPMorgan Chase & Co. raised their price target on Check Point Software Technologies from $180.00 to $210.00 and gave the company a “neutral” rating in a research note on Monday, October 28. Bank of America downgraded Check Point Software Technologies from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $205.00 to $195.00 in a research note on Wednesday, October 30. Finally, Royal Bank of Canada reissued a “sector perform” rating and $187.00 price target on shares of Check Point Software Technologies in a research note on Wednesday, October 30. Fifteen investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of ‘Hold’ and a consensus price of $197.74.
Check out our latest analysis on CHKP
Check Point Software Technologies Company Profile
(Free report)
Check Point Software Technologies Ltd. develops, sells and supports a range of IT security products and services worldwide. The company offers multi-level security architecture, cloud, network, mobile, endpoint intelligence and IoT solutions. It offers Check Point Infinity Architecture, a cybersecurity architecture that protects against fifth-generation cyber attacks across networks, endpoints, cloud, workloads, Internet of Things and mobile.
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