State Street Corp Has $412.26 Million Stake in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

State Street Corp lessened its stake in Check Point Software Technologies Ltd. (NASDAQ:CHKP - Free Report) by 2.1% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,138,173 shares of the technology company's stock after selling 46,480 shares during the quarter. State Street Corp owned 1.94% of Check Point Software Technologies worth $412,261,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CHKP. Bank of Montreal Can increased its stake in shares of Check Point Software Technologies by 32.2% in the third quarter. Bank of Montreal Can now owns 85,639 shares of the technology company's stock worth $16,532,000 after acquiring an additional 20,866 shares during the last quarter. CWA Asset Management Group LLC purchased a new stake in shares of Check Point Software Technologies during the 3rd quarter worth about $1,599,000. M&G Plc raised its stake in shares of Check Point Software Technologies by 10.0% during the 2nd quarter. M&G Plc now owns 108,449 shares of the technology company's stock worth $17,894,000 after purchasing an additional 9,830 shares in the last quarter. Milestone Asset Management LLC acquired a new stake in shares of Check Point Software Technologies during the 2nd quarter valued at about $1,357,000. Finally, Assenagon Asset Management S.A. grew its stake in shares of Check Point Software Technologies by 110.1% in the 2nd quarter. Assenagon Asset Management S.A. now owns 55,903 shares of the technology company's stock valued at $9,224,000 after buying an additional 29,298 shares in the last quarter. Hedge funds and other institutional investors own 87.62% of the company's stock.

Check Point Software Technologies Stock Performance

Shares of NASDAQ:CHKP traded down $1.04 during midday trading on Tuesday, reaching $186.85. 656,440 shares of the company's stock were exchanged, compared to its average volume of 689,494. The firm has a market capitalization of $20.55 billion, a PE ratio of 25.53, a price-to-earnings-growth ratio of 3.18 and a beta of 0.63. The company's 50 day simple moving average is $188.37 and its two-hundred day simple moving average is $179.90. 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 data on Tuesday, October 29th. The technology company reported $2.25 earnings per share for the quarter, meeting analysts' consensus estimates 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 the consensus estimate of $634.96 million. During the same period in the previous year, the business earned $1.80 earnings per share. The company's quarterly revenue was up 6.5% on a year-over-year basis. On average, research analysts anticipate that Check Point Software Technologies Ltd. will post 7.87 earnings per share for the current year.

Analyst Upgrades and Downgrades

CHKP has been the topic of several recent research reports. JPMorgan Chase & Co. raised their price objective on shares of Check Point Software Technologies from $180.00 to $210.00 and gave the company a "neutral" rating in a research report on Monday, October 28th. Truist Financial upped their price objective on shares of Check Point Software Technologies from $200.00 to $220.00 and gave the stock a "buy" rating in a report on Wednesday, October 23rd. Evercore ISI raised their target price on Check Point Software Technologies from $180.00 to $185.00 and gave the company an "in-line" rating in a report on Wednesday, October 30th. Mizuho upped their price target on Check Point Software Technologies from $178.00 to $205.00 and gave the stock a "neutral" rating in a research note on Thursday, October 17th. Finally, Robert W. Baird cut their price objective on Check Point Software Technologies from $210.00 to $205.00 and set a "neutral" rating on the stock in a research note on Wednesday, October 30th. 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 stock currently has a consensus rating of "Hold" and a consensus target price of $197.74.

Check Point Software Technologies Company 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.