Northwest & Ethical Investments L.P. Cuts Stake in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Northwest & Ethical Investments L.P. cut its stake in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP - Free Report) by 17.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,085 shares of the technology company's stock after selling 2,958 shares during the period. Northwest & Ethical Investments L.P.'s holdings in Check Point Software Technologies were worth $2,716,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Kathleen S. Wright Associates Inc. acquired a new position in shares of Check Point Software Technologies in the third quarter valued at approximately $33,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Check Point Software Technologies in the second quarter valued at approximately $30,000. Concord Wealth Partners acquired a new position in shares of Check Point Software Technologies in the third quarter valued at approximately $37,000. Arrow Financial Corp grew its holdings in shares of Check Point Software Technologies by 62.5% in the third quarter. Arrow Financial Corp now owns 260 shares of the technology company's stock valued at $50,000 after purchasing an additional 100 shares in the last quarter. Finally, FSC Wealth Advisors LLC acquired a new position in shares of Check Point Software Technologies in the third quarter valued at approximately $60,000. 87.62% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have commented on CHKP shares. Needham & Company LLC reiterated a "hold" rating on shares of Check Point Software Technologies in a report on Wednesday, October 30th. BMO Capital Markets boosted their price target on shares of Check Point Software Technologies from $200.00 to $238.00 and gave the stock a "market perform" rating in a report on Friday, October 25th. Barclays lowered their price target on shares of Check Point Software Technologies from $210.00 to $200.00 and set an "equal weight" rating for the company in a report on Tuesday, October 29th. Evercore ISI boosted their price target on shares of Check Point Software Technologies from $180.00 to $185.00 and gave the stock an "in-line" rating in a report on Wednesday, October 30th. Finally, Mizuho boosted their price target on shares of Check Point Software Technologies from $178.00 to $205.00 and gave the stock a "neutral" rating in a report on Thursday, October 17th. Fifteen analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $197.74.

Check Point Software Technologies Stock Performance

NASDAQ CHKP traded up $0.45 during trading hours on Friday, reaching $182.00. The company's stock had a trading volume of 246,764 shares, compared to its average volume of 693,062. The stock has a market cap of $20.02 billion, a PE ratio of 24.86, a PEG ratio of 3.10 and a beta of 0.63. Check Point Software Technologies Ltd. has a fifty-two week low of $143.28 and a fifty-two week high of $210.70. The company's 50-day moving average is $189.23 and its two-hundred day moving average is $178.01.

Check Point Software Technologies (NASDAQ:CHKP - Get Free Report) last issued its quarterly earnings data on Tuesday, October 29th. The technology company reported $2.25 EPS for the quarter, meeting analysts' consensus estimates of $2.25. The firm had revenue of $635.10 million for the quarter, compared to analysts' expectations of $634.96 million. Check Point Software Technologies had a net margin of 33.17% and a return on equity of 31.84%. The firm's revenue was up 6.5% on a year-over-year basis. During the same period in the prior year, the company earned $1.80 EPS. Equities analysts expect that Check Point Software Technologies Ltd. will post 7.86 earnings per share 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.