Concentric Capital Strategies LP Has $2.32 Million Holdings in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Concentric Capital Strategies LP cut its holdings in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP - Free Report) by 83.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,028 shares of the technology company's stock after selling 59,769 shares during the period. Concentric Capital Strategies LP's holdings in Check Point Software Technologies were worth $2,319,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the business. Massachusetts Financial Services Co. MA raised its stake in shares of Check Point Software Technologies by 2.1% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 5,527,700 shares of the technology company's stock worth $912,070,000 after buying an additional 114,938 shares in the last quarter. Acadian Asset Management LLC boosted its stake in shares of Check Point Software Technologies by 10.5% during the second quarter. Acadian Asset Management LLC now owns 4,108,685 shares of the technology company's stock valued at $677,869,000 after acquiring an additional 391,983 shares during the last quarter. Ninety One UK Ltd grew its stake in Check Point Software Technologies by 1.1% in the 2nd quarter. Ninety One UK Ltd now owns 3,608,785 shares of the technology company's stock worth $595,450,000 after acquiring an additional 39,092 shares during the period. Robeco Institutional Asset Management B.V. boosted its position in shares of Check Point Software Technologies by 10.7% in the third quarter. Robeco Institutional Asset Management B.V. now owns 1,836,799 shares of the technology company's stock worth $354,153,000 after acquiring an additional 177,104 shares during the last quarter. Finally, FMR LLC grew its position in Check Point Software Technologies by 28.7% during the third quarter. FMR LLC now owns 1,133,175 shares of the technology company's stock valued at $218,488,000 after acquiring an additional 252,581 shares during the period. 87.62% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently commented on CHKP shares. Robert W. Baird dropped their target price on Check Point Software Technologies from $210.00 to $205.00 and set a "neutral" rating on the stock in a report on Wednesday, October 30th. Truist Financial raised their target price on Check Point Software Technologies from $200.00 to $220.00 and gave the company a "buy" rating in a research note on Wednesday, October 23rd. Royal Bank of Canada reissued a "sector perform" rating and issued a $187.00 price target on shares of Check Point Software Technologies in a report on Wednesday, October 30th. Jefferies Financial Group boosted their target price on shares of Check Point Software Technologies from $210.00 to $225.00 and gave the stock a "buy" rating in a research report on Tuesday, September 24th. Finally, Evercore ISI raised their price objective on Check Point Software Technologies from $180.00 to $185.00 and gave the stock an "in-line" rating in a research note on Wednesday, October 30th. Fifteen analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $197.74.

Check Point Software Technologies Stock Up 2.5 %

NASDAQ CHKP traded up $4.48 on Tuesday, reaching $186.66. 224,568 shares of the stock traded hands, compared to its average volume of 690,953. Check Point Software Technologies Ltd. has a 12 month low of $143.28 and a 12 month high of $210.70. The company has a market cap of $20.53 billion, a price-to-earnings ratio of 24.89, a P/E/G ratio of 3.11 and a beta of 0.63. The firm's fifty day simple moving average is $188.97 and its 200 day simple moving average is $178.64.

Check Point Software Technologies (NASDAQ:CHKP - Get Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The technology company reported $2.25 earnings per share for the quarter, meeting the consensus estimate of $2.25. Check Point Software Technologies had a net margin of 33.17% and a return on equity of 31.84%. The company had revenue of $635.10 million during the quarter, compared to analyst estimates of $634.96 million. During the same quarter last year, the firm posted $1.80 EPS. The business's revenue for the quarter was up 6.5% on a year-over-year basis. As a group, equities research analysts forecast that Check Point Software Technologies Ltd. will post 7.86 EPS for the current fiscal 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.