National Bank of Canada FI has sold its interest in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP – Free Report) fell 47.5% in the third quarter, the company said in its most recent notice to the Securities & Exchange Commission. The institutional investor owned 1,459 shares of the technology company, after selling 1,318 shares during the quarter. National Bank of Canada FI’s stake in Check Point Software Technologies was worth $281,000 at the time of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA increased its position in shares of Check Point Software Technologies by 2.1% in the second quarter. Massachusetts Financial Services Co. MA now owns 5,527,700 shares of the technology company’s stock worth $912,070,000 after purchasing an additional 114,938 shares during the period. Acadian Asset Management LLC increased its stake in Check Point Software Technologies by 10.5% in the second quarter. Acadian Asset Management LLC now owns 4,108,685 shares of the technology company’s stock worth $677,869,000 after purchasing an additional 391,983 shares in the last quarter. Robeco Institutional Asset Management BV increased its stake in Check Point Software Technologies by 10.7% in the third quarter. Robeco Institutional Asset Management BV now owns 1,836,799 shares of the technology company’s stock worth $354,153,000 after purchasing an additional 177,104 shares during the period. FMR LLC strengthened its position in Check Point Software Technologies by 28.7% during the third quarter. FMR LLC now owns 1,133,175 shares of the technology company’s stock valued at $218,488,000 after acquiring an additional 252,581 shares in the last quarter. Finally, UBS AM, a separate business unit of UBS ASSET MANAGEMENT AMERICAS LLC, grew its stake in shares of Check Point Software Technologies by 73.8% during the third quarter. UBS AM, a separate business unit of UBS ASSET MANAGEMENT AMERICAS LLC, now owns 1,094,887 shares of the technology company’s stock valued at $211,105,000 after acquiring an additional 464,821 shares during the period. Hedge funds and other institutional investors own 98.51% of the company’s shares.
Wall Street analysts weigh in
Several equity research analysts have recently weighed in on CHKP stock. Bank of America downgraded Check Point Software Technologies from a “buy” rating to a “neutral” rating and lowered their price target for the company from $205.00 to $195.00 in a research report on Wednesday, October 30. Barclays lowered their target price on shares of Check Point Software Technologies from $210.00 to $200.00 and set an “equalweight” rating on the stock in a report on Tuesday, October 29. Evercore ISI raised their target price on shares of Check Point Software Technologies from $180.00 to $185.00 and gave the stock an “in-line” rating in a research note on Wednesday, October 30. Mizuho raised their price objective on shares of Check Point Software Technologies from $178.00 to $205.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Check Point Software Technologies in a research note on Wednesday, October 30. Fifteen equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, Check Point Software Technologies has a consensus rating of “Hold” and a consensus price target of $197.74.
Get our latest stock analysis on CHKP
Check Point Software Technologies shares fell 0.9%
CHKP opened at $187.77 on Monday. The stock has a market cap of $20.65 billion, a price-to-earnings ratio of 25.65, a PEG ratio of 3.21 and a beta of 0.63. The company has a 50-day moving average of $188.11 and a 200-day moving average of $180.91. Check Point Software Technologies Ltd. has a twelve month low of $144.66 and a twelve month high of $210.70.
Check Point Software Technologies (NASDAQ:CHKP – Get Free Report) last reported its quarterly results on Tuesday, October 29. 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 return on equity of 31.84% and a net margin of 33.17%. The company had revenue of $635.10 million for the quarter, compared to analyst expectations of $634.96 million. During the same period last year, the company earned $1.80 in earnings per share. The company’s revenue increased by 6.5% compared to the same quarter last year. As a group, analysts expect Check Point Software Technologies Ltd. will post earnings per share of 7.87 for the current year.
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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