Meitav Investment House Ltd. cut its position in Check Point Software Technologies Ltd. (NASDAQ:CHKP - Free Report) by 15.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 176,449 shares of the technology company's stock after selling 33,163 shares during the quarter. Meitav Investment House Ltd. owned about 0.16% of Check Point Software Technologies worth $33,997,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Tidal Investments LLC bought a new position in shares of Check Point Software Technologies in the first quarter valued at $6,558,000. Quantbot Technologies LP bought a new position in Check Point Software Technologies during the first quarter worth $1,095,000. Allspring Global Investments Holdings LLC boosted its position in Check Point Software Technologies by 8.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 97,434 shares of the technology company's stock worth $15,980,000 after purchasing an additional 7,357 shares during the period. M&G Plc boosted its position in Check Point Software Technologies by 10.0% during the second quarter. M&G Plc now owns 108,449 shares of the technology company's stock worth $17,894,000 after purchasing an additional 9,830 shares during the period. Finally, Quadrature Capital Ltd bought a new position in Check Point Software Technologies during the first quarter worth $2,928,000. 87.62% of the stock is owned by institutional investors.
Check Point Software Technologies Price Performance
CHKP stock traded down $0.68 during midday trading on Thursday, reaching $173.21. The company had a trading volume of 916,935 shares, compared to its average volume of 693,706. The company has a market capitalization of $19.05 billion, a price-to-earnings ratio of 23.91, a price-to-earnings-growth ratio of 3.17 and a beta of 0.62. The stock has a 50 day moving average price of $195.21 and a 200-day moving average price of $174.67. Check Point Software Technologies Ltd. has a 1-year low of $129.13 and a 1-year high of $210.70.
Check Point Software Technologies (NASDAQ:CHKP - Get Free Report) last released 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 return on equity of 31.59% and a net margin of 33.61%. The firm had revenue of $635.10 million for the quarter, compared to analysts' expectations of $634.96 million. During the same quarter in the previous year, the business posted $1.80 earnings per share. The business's revenue for the quarter was up 6.5% on a year-over-year basis. As a group, research analysts anticipate that Check Point Software Technologies Ltd. will post 7.83 earnings per share for the current year.
Wall Street Analysts Forecast Growth
A number of equities analysts have commented on CHKP shares. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $187.00 price objective on shares of Check Point Software Technologies in a research report on Wednesday. JPMorgan Chase & Co. lifted their price objective on shares of Check Point Software Technologies from $180.00 to $210.00 and gave the stock a "neutral" rating in a research report on Monday. Jefferies Financial Group lifted their price objective 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. Mizuho lifted their price objective on shares of Check Point Software Technologies from $178.00 to $205.00 and gave the stock a "neutral" rating in a research report on Thursday, October 17th. Finally, BMO Capital Markets lifted their price objective on shares of Check Point Software Technologies from $200.00 to $238.00 and gave the stock a "market perform" rating in a research report on Friday, October 25th. Fifteen investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $197.74.
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About Check Point Software Technologies
(
Free Report)
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.
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