Massachusetts Financial Services Co. MA Sells 209,427 Shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Massachusetts Financial Services Co. MA cut its holdings in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP - Free Report) by 3.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,318,273 shares of the technology company's stock after selling 209,427 shares during the period. Massachusetts Financial Services Co. MA owned approximately 4.84% of Check Point Software Technologies worth $1,025,416,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Foundry Partners LLC boosted its stake in shares of Check Point Software Technologies by 45.0% during the 3rd quarter. Foundry Partners LLC now owns 3,144 shares of the technology company's stock worth $606,000 after acquiring an additional 975 shares in the last quarter. Banque Cantonale Vaudoise increased its stake in Check Point Software Technologies by 1.4% in the 3rd quarter. Banque Cantonale Vaudoise now owns 13,981 shares of the technology company's stock worth $2,696,000 after purchasing an additional 196 shares in the last quarter. Bruni J V & Co. Co. lifted its stake in Check Point Software Technologies by 103.4% during the third quarter. Bruni J V & Co. Co. now owns 117,344 shares of the technology company's stock valued at $22,625,000 after buying an additional 59,646 shares in the last quarter. Caprock Group LLC boosted its holdings in shares of Check Point Software Technologies by 3.4% in the third quarter. Caprock Group LLC now owns 4,225 shares of the technology company's stock worth $815,000 after buying an additional 138 shares during the period. Finally, Pathstone Holdings LLC increased its position in shares of Check Point Software Technologies by 138.3% in the third quarter. Pathstone Holdings LLC now owns 19,232 shares of the technology company's stock worth $3,708,000 after acquiring an additional 11,160 shares in the last quarter. 87.62% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

CHKP has been the topic of several research analyst reports. Truist Financial lifted 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 research report on Wednesday, October 23rd. Needham & Company LLC reissued a "hold" rating on shares of Check Point Software Technologies in a research report on Wednesday, October 30th. Scotiabank increased their target price on shares of Check Point Software Technologies from $180.00 to $200.00 and gave the stock a "sector outperform" rating in a research report on Thursday, July 25th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Check Point Software Technologies from $175.00 to $185.00 and gave the company a "hold" rating in a report on Thursday, July 25th. Finally, Bank of America cut Check Point Software Technologies from a "buy" rating to a "neutral" rating and reduced their price objective for the company from $205.00 to $195.00 in a research report on Wednesday, October 30th. Fifteen research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $197.74.

Check Point Software Technologies Price Performance

Shares of CHKP traded up $5.16 during trading hours on Thursday, hitting $181.99. The stock had a trading volume of 752,842 shares, compared to its average volume of 694,848. The stock has a market capitalization of $20.02 billion, a price-to-earnings ratio of 24.16, a P/E/G ratio of 2.97 and a beta of 0.63. The company's fifty day moving average is $190.65 and its two-hundred day moving average is $176.76. Check Point Software Technologies Ltd. has a 52 week low of $143.28 and a 52 week high of $210.70.

Check Point Software Technologies (NASDAQ:CHKP - Get Free Report) last posted its earnings results on Tuesday, October 29th. The technology company reported $2.25 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates 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 analysts' expectations of $634.96 million. During the same quarter in the previous year, the company posted $1.80 earnings per share. Check Point Software Technologies's quarterly revenue was up 6.5% compared to the same quarter last year. Equities analysts predict that Check Point Software Technologies Ltd. will post 7.87 EPS for the current fiscal year.

Check Point Software Technologies 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.