Penserra Capital Management LLC Sells 62,742 Shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Penserra Capital Management LLC cut its stake in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP - Free Report) by 15.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 351,919 shares of the technology company's stock after selling 62,742 shares during the quarter. Check Point Software Technologies accounts for about 1.5% of Penserra Capital Management LLC's holdings, making the stock its 12th biggest holding. Penserra Capital Management LLC owned approximately 0.32% of Check Point Software Technologies worth $67,851,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of CHKP. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Check Point Software Technologies during the second quarter valued at about $30,000. Kathleen S. Wright Associates Inc. purchased a new position in Check Point Software Technologies in the 3rd quarter worth approximately $33,000. Concord Wealth Partners bought a new stake in Check Point Software Technologies in the third quarter valued at approximately $37,000. Arrow Financial Corp boosted its stake in shares of Check Point Software Technologies by 62.5% during 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 during the period. Finally, FSC Wealth Advisors LLC bought a new position in shares of Check Point Software Technologies in the third quarter worth approximately $60,000. Hedge funds and other institutional investors own 87.62% of the company's stock.

Check Point Software Technologies Price Performance

Shares of NASDAQ:CHKP traded down $0.24 during midday trading on Friday, hitting $181.75. The company had a trading volume of 388,198 shares, compared to its average volume of 893,121. The company has a market cap of $19.99 billion, a price-to-earnings ratio of 24.83, a PEG ratio of 3.10 and a beta of 0.63. The company has a fifty day moving average of $190.21 and a two-hundred day moving average of $177.15. 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 released its earnings results on Tuesday, October 29th. The technology company reported $2.25 EPS for the quarter, hitting the consensus estimate of $2.25. The firm had revenue of $635.10 million for the quarter, compared to the consensus estimate of $634.96 million. Check Point Software Technologies had a net margin of 33.17% and a return on equity of 31.84%. The company's quarterly revenue was up 6.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.80 earnings per share. Research analysts expect that Check Point Software Technologies Ltd. will post 7.87 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. JPMorgan Chase & Co. upped their price target on shares of Check Point Software Technologies from $180.00 to $210.00 and gave the company a "neutral" rating in a report on Monday, October 28th. Robert W. Baird dropped their price objective on Check Point Software Technologies from $210.00 to $205.00 and set a "neutral" rating for the company in a report on Wednesday, October 30th. Bank of America lowered Check Point Software Technologies from a "buy" rating to a "neutral" rating and dropped their price target for the stock from $205.00 to $195.00 in a research note on Wednesday, October 30th. Jefferies Financial Group boosted their price target on shares of Check Point Software Technologies from $210.00 to $225.00 and gave the company a "buy" rating in a research report on Tuesday, September 24th. Finally, Truist Financial upped their target price on Check Point Software Technologies from $200.00 to $220.00 and gave the stock a "buy" rating in a report on Wednesday, October 23rd. 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, the company has an average rating of "Hold" and an average target price of $197.74.

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.