Harvey Partners LLC Sells 8,750 Shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Harvey Partners LLC cut its stake in Check Point Software Technologies Ltd. (NASDAQ:CHKP - Free Report) by 9.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 87,250 shares of the technology company's stock after selling 8,750 shares during the quarter. Check Point Software Technologies accounts for 1.9% of Harvey Partners LLC's holdings, making the stock its 25th biggest position. Harvey Partners LLC owned 0.08% of Check Point Software Technologies worth $16,823,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently modified their holdings of the company. FSA Wealth Management LLC bought a new stake in shares of Check Point Software Technologies in the 3rd quarter valued at about $27,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Check Point Software Technologies in the 2nd quarter valued at about $30,000. Kathleen S. Wright Associates Inc. bought a new stake in Check Point Software Technologies during the 3rd quarter worth approximately $33,000. Concord Wealth Partners bought a new stake in Check Point Software Technologies during the 3rd quarter worth approximately $37,000. Finally, Arrow Financial Corp increased its stake in Check Point Software Technologies by 62.5% during the 3rd quarter. Arrow Financial Corp now owns 260 shares of the technology company's stock worth $50,000 after purchasing an additional 100 shares in the last quarter. 87.62% of the stock is owned by institutional investors.

Check Point Software Technologies Trading Up 2.7 %

CHKP stock traded up $4.91 during trading hours on Tuesday, hitting $187.09. 682,175 shares of the stock were exchanged, compared to its average volume of 691,886. The firm has a market capitalization of $20.58 billion, a P/E ratio of 24.89, a P/E/G ratio of 3.11 and a beta of 0.63. The company has a 50-day simple moving average of $188.97 and a two-hundred day simple moving average of $178.64. Check Point Software Technologies Ltd. has a 12 month low of $143.28 and a 12 month high of $210.70.

Check Point Software Technologies (NASDAQ:CHKP - Get Free Report) last issued its quarterly earnings results on Tuesday, October 29th. The technology company reported $2.25 EPS for the quarter, hitting 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 analysts' expectations of $634.96 million. During the same quarter last year, the business earned $1.80 earnings per share. Check Point Software Technologies's revenue was up 6.5% on a year-over-year basis. On average, equities research analysts predict that Check Point Software Technologies Ltd. will post 7.86 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms recently issued reports on CHKP. JPMorgan Chase & Co. increased 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. Wedbush increased their target price on Check Point Software Technologies from $200.00 to $230.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 9th. Robert W. Baird decreased their price target on shares of Check Point Software Technologies from $210.00 to $205.00 and set a "neutral" rating for the company in a research note on Wednesday, October 30th. Needham & Company LLC reaffirmed a "hold" rating on shares of Check Point Software Technologies in a research note on Wednesday, October 30th. Finally, Truist Financial raised their price target on shares of Check Point Software Technologies from $200.00 to $220.00 and gave the stock a "buy" rating in a research note on Wednesday, October 23rd. Fifteen analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, Check Point Software Technologies currently has a consensus rating of "Hold" and a consensus price target 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.