Check Point Software Technologies (NASDAQ:CHKP) Share Price Crosses Above 200 Day Moving Average - Here's What Happened

Check Point Software Technologies Ltd. (NASDAQ:CHKP - Get Free Report)'s share price passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $183.56 and traded as high as $187.79. Check Point Software Technologies shares last traded at $187.26, with a volume of 312,527 shares.

Analysts Set New Price Targets

A number of research firms have weighed in on CHKP. Stifel Nicolaus increased their target price on shares of Check Point Software Technologies from $182.00 to $190.00 and gave the company a "hold" rating in a research report on Wednesday, December 18th. Barclays decreased their price objective on shares of Check Point Software Technologies from $210.00 to $200.00 and set an "equal weight" rating for the company in a research report on Tuesday, October 29th. Needham & Company LLC restated a "hold" rating on shares of Check Point Software Technologies in a report on Wednesday, October 30th. JPMorgan Chase & Co. increased their price target on Check Point Software Technologies from $180.00 to $210.00 and gave the stock a "neutral" rating in a report on Monday, October 28th. Finally, Bank of America downgraded Check Point Software Technologies from a "buy" rating to a "neutral" rating and dropped their price objective for the company from $205.00 to $195.00 in a research note on Wednesday, October 30th. Fifteen analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, Check Point Software Technologies currently has an average rating of "Hold" and a consensus target price of $199.05.

Check Point Software Technologies Stock Down 0.3 %

The company has a market capitalization of $20.53 billion, a P/E ratio of 25.51, a P/E/G ratio of 3.21 and a beta of 0.63. The firm's 50-day moving average price is $184.04 and its 200 day moving average price is $183.77.

Check Point Software Technologies (NASDAQ:CHKP - Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The technology company reported $2.25 earnings per share (EPS) for the quarter, hitting the consensus estimate of $2.25. The business 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%. Check Point Software Technologies's 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 earnings per share. As a group, equities research analysts expect that Check Point Software Technologies Ltd. will post 7.87 EPS for the current year.

Institutional Trading of Check Point Software Technologies

Hedge funds have recently bought and sold shares of the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Check Point Software Technologies by 73.8% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,094,887 shares of the technology company's stock worth $211,105,000 after buying an additional 464,821 shares during the last quarter. Acadian Asset Management LLC increased its stake in shares of Check Point Software Technologies by 10.5% during the 2nd 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 during the last quarter. Marshall Wace LLP bought a new stake in shares of Check Point Software Technologies in the 2nd quarter worth approximately $47,244,000. World Investment Advisors LLC bought a new position in Check Point Software Technologies during the third quarter valued at $51,922,000. Finally, FMR LLC raised its stake in shares of Check Point Software Technologies by 28.7% in the third quarter. FMR LLC now owns 1,133,175 shares of the technology company's stock valued at $218,488,000 after buying an additional 252,581 shares during the period. 98.51% of the stock is currently owned by institutional investors.

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.