Check Point Software Technologies (NASDAQ:CHKP) Lowered to Hold Rating by StockNews.com

StockNews.com cut shares of Check Point Software Technologies (NASDAQ:CHKP - Free Report) from a buy rating to a hold rating in a research note published on Tuesday.

Other research analysts have also issued research reports about the stock. Scotiabank raised their price objective on shares of Check Point Software Technologies from $215.00 to $250.00 and gave the company a "sector outperform" rating in a report on Friday, January 31st. Robert W. Baird set a $235.00 target price on shares of Check Point Software Technologies in a research report on Friday, January 31st. Jefferies Financial Group increased their target price on shares of Check Point Software Technologies from $220.00 to $225.00 and gave the company a "buy" rating in a research report on Thursday, December 19th. Bank of America downgraded shares of Check Point Software Technologies from a "buy" rating to a "neutral" rating and decreased their target price for the company from $205.00 to $195.00 in a research report on Wednesday, October 30th. Finally, Royal Bank of Canada increased their target price on shares of Check Point Software Technologies from $187.00 to $215.00 and gave the company a "sector perform" rating in a research report on Friday, January 31st. Nineteen investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $221.91.

Check Point Software Technologies Price Performance

NASDAQ CHKP traded up $3.57 during trading hours on Tuesday, reaching $220.26. The company's stock had a trading volume of 1,092,734 shares, compared to its average volume of 914,147. The firm has a fifty day simple moving average of $201.38 and a 200-day simple moving average of $193.31. The stock has a market cap of $24.22 billion, a P/E ratio of 29.49, a P/E/G ratio of 3.41 and a beta of 0.65. Check Point Software Technologies has a 52 week low of $145.75 and a 52 week high of $226.02.

Hedge Funds Weigh In On Check Point Software Technologies

Several large investors have recently bought and sold shares of CHKP. Menard Financial Group LLC bought a new stake in shares of Check Point Software Technologies during the 4th quarter worth $41,000. Brucke Financial Inc. bought a new stake in shares of Check Point Software Technologies during the 4th quarter worth $214,000. Bernard Wealth Management Corp. bought a new stake in shares of Check Point Software Technologies during the 4th quarter worth $76,000. Capital A Wealth Management LLC bought a new stake in shares of Check Point Software Technologies during the 4th quarter worth $29,000. Finally, Mackenzie Financial Corp raised its stake in shares of Check Point Software Technologies by 2.5% during the 4th quarter. Mackenzie Financial Corp now owns 20,730 shares of the technology company's stock worth $3,870,000 after purchasing an additional 506 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.