Charles Schwab Investment Management Inc. Sells 4,358 Shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Charles Schwab Investment Management Inc. trimmed its stake in Check Point Software Technologies Ltd. (NASDAQ:CHKP - Free Report) by 3.4% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 122,746 shares of the technology company's stock after selling 4,358 shares during the period. Charles Schwab Investment Management Inc. owned 0.11% of Check Point Software Technologies worth $23,667,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CHKP. CWA Asset Management Group LLC bought a new position in shares of Check Point Software Technologies in the third quarter valued at approximately $1,599,000. M&G Plc raised its holdings in Check Point Software Technologies by 10.0% in the 2nd quarter. M&G Plc now owns 108,449 shares of the technology company's stock worth $17,894,000 after acquiring an additional 9,830 shares during the period. Milestone Asset Management LLC acquired a new position in shares of Check Point Software Technologies during the 2nd quarter worth about $1,357,000. Assenagon Asset Management S.A. lifted its position in shares of Check Point Software Technologies by 110.1% during the 2nd quarter. Assenagon Asset Management S.A. now owns 55,903 shares of the technology company's stock worth $9,224,000 after purchasing an additional 29,298 shares during the last quarter. Finally, Martin Investment Management LLC boosted its stake in Check Point Software Technologies by 2.0% during the 3rd quarter. Martin Investment Management LLC now owns 163,357 shares of the technology company's stock valued at $31,497,000 after purchasing an additional 3,225 shares during the period. 87.62% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

CHKP has been the topic of several research analyst reports. Bank of America downgraded shares of Check Point Software Technologies from a "buy" rating to a "neutral" rating and lowered their price objective for the stock from $205.00 to $195.00 in a research note on Wednesday, October 30th. Royal Bank of Canada reiterated a "sector perform" rating and issued a $187.00 target price on shares of Check Point Software Technologies in a research note on Wednesday, October 30th. Jefferies Financial Group lifted their price objective on Check Point Software Technologies from $210.00 to $225.00 and gave the stock a "buy" rating in a report on Tuesday, September 24th. Robert W. Baird cut their target price on Check Point Software Technologies from $210.00 to $205.00 and set a "neutral" rating for the company in a research note on Wednesday, October 30th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Check Point Software Technologies from $180.00 to $210.00 and gave the stock a "neutral" rating in a research note on Monday, October 28th. Fifteen research analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat, Check Point Software Technologies presently has a consensus rating of "Hold" and a consensus target price of $197.74.

Check Point Software Technologies Trading Down 0.7 %

Shares of Check Point Software Technologies stock traded down $1.23 during midday trading on Friday, reaching $186.82. The company had a trading volume of 466,712 shares, compared to its average volume of 689,864. The stock has a fifty day simple moving average of $188.59 and a 200 day simple moving average of $179.03. Check Point Software Technologies Ltd. has a 1-year low of $143.28 and a 1-year high of $210.70. The company has a market capitalization of $20.55 billion, a price-to-earnings ratio of 25.64, a price-to-earnings-growth ratio of 3.19 and a beta of 0.63.

Check Point Software Technologies (NASDAQ:CHKP - Get Free Report) last released its earnings results on Tuesday, October 29th. The technology company reported $2.25 earnings per share for the quarter, hitting analysts' consensus estimates of $2.25. The company had revenue of $635.10 million during the quarter, compared to the consensus estimate of $634.96 million. Check Point Software Technologies had a return on equity of 31.84% and a net margin of 33.17%. The firm's quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.80 earnings per share. Sell-side analysts expect that Check Point Software Technologies Ltd. will post 7.86 earnings per share 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.