Kovitz Investment Group Partners LLC Lowers Position in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Kovitz Investment Group Partners LLC reduced its stake in Check Point Software Technologies Ltd. (NASDAQ:CHKP - Free Report) by 55.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,530 shares of the technology company's stock after selling 3,146 shares during the period. Kovitz Investment Group Partners LLC's holdings in Check Point Software Technologies were worth $488,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. FSA Wealth Management LLC acquired a new position in shares of Check Point Software Technologies during the third quarter valued at about $27,000. Kathleen S. Wright Associates Inc. purchased a new stake in shares of Check Point Software Technologies in the third quarter worth approximately $33,000. Concord Wealth Partners bought a new position in shares of Check Point Software Technologies in the third quarter valued at approximately $37,000. Arrow Financial Corp grew its holdings in Check Point Software Technologies by 62.5% during the third quarter. Arrow Financial Corp now owns 260 shares of the technology company's stock worth $50,000 after buying an additional 100 shares in the last quarter. Finally, FSC Wealth Advisors LLC bought a new position in Check Point Software Technologies during the 3rd quarter valued at $60,000. Institutional investors and hedge funds own 98.51% of the company's stock.

Check Point Software Technologies Stock Performance

CHKP traded down $1.50 on Friday, hitting $188.00. 220,659 shares of the company were exchanged, compared to its average volume of 685,875. The firm has a fifty day simple moving average of $188.23 and a two-hundred day simple moving average of $180.24. The stock has a market capitalization of $20.68 billion, a PE ratio of 25.89, a price-to-earnings-growth ratio of 3.21 and a beta of 0.63. Check Point Software Technologies Ltd. has a 12 month low of $144.66 and a 12 month high of $210.70.

Check Point Software Technologies (NASDAQ:CHKP - Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The technology company reported $2.25 EPS for the quarter, meeting analysts' consensus estimates of $2.25. The business had revenue of $635.10 million during the quarter, compared to analyst estimates of $634.96 million. Check Point Software Technologies had a return on equity of 31.84% and a net margin of 33.17%. Check Point Software Technologies's quarterly revenue was up 6.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.80 EPS. On average, equities analysts expect that Check Point Software Technologies Ltd. will post 7.87 earnings per share for the current year.

Wall Street Analyst Weigh In

CHKP has been the subject of several recent analyst reports. Robert W. Baird reduced their target price on Check Point Software Technologies from $210.00 to $205.00 and set a "neutral" rating for the company in a report on Wednesday, October 30th. JPMorgan Chase & Co. lifted their target price on 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. 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 research note on Friday, October 25th. Bank of America cut Check Point Software Technologies from a "buy" rating to a "neutral" rating and reduced their price target for the company from $205.00 to $195.00 in a research report on Wednesday, October 30th. Finally, Wedbush increased their price objective on Check Point Software Technologies from $200.00 to $230.00 and gave the stock an "outperform" rating in a report on Wednesday, October 9th. Fifteen analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $197.74.

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.