Swiss National Bank Decreases Stake in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Swiss National Bank lowered its stake in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP - Free Report) by 1.2% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 265,000 shares of the technology company's stock after selling 3,200 shares during the period. Swiss National Bank owned approximately 0.24% of Check Point Software Technologies worth $51,095,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the business. Kathleen S. Wright Associates Inc. bought a new stake in shares of Check Point Software Technologies during the third quarter valued at approximately $33,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Check Point Software Technologies during the second quarter worth $30,000. Concord Wealth Partners bought a new position in shares of Check Point Software Technologies during the third quarter worth $37,000. Arrow Financial Corp lifted its position in Check Point Software Technologies by 62.5% in the 3rd quarter. Arrow Financial Corp now owns 260 shares of the technology company's stock valued at $50,000 after acquiring an additional 100 shares in the last quarter. Finally, FSC Wealth Advisors LLC bought a new stake in Check Point Software Technologies in the 3rd quarter valued at $60,000. Institutional investors and hedge funds own 87.62% of the company's stock.

Analysts Set New Price Targets

CHKP has been the topic of several analyst reports. 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 research report on Thursday, October 17th. Royal Bank of Canada reiterated a "sector perform" rating and issued a $187.00 price target on shares of Check Point Software Technologies in a research note on Wednesday, October 30th. 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 research note on Monday, October 28th. BMO Capital Markets increased their target price 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. Finally, Evercore ISI increased their target price on shares of Check Point Software Technologies from $180.00 to $185.00 and gave the stock an "in-line" rating in a research report on Wednesday, October 30th. Fifteen investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $197.74.

Check Point Software Technologies Stock Up 3.1 %

CHKP traded up $5.41 during midday trading on Thursday, hitting $182.24. 158,525 shares of the company traded hands, compared to its average volume of 692,198. The company's 50-day moving average is $190.65 and its 200 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. The firm has a market capitalization of $20.04 billion, a PE ratio of 24.16, a price-to-earnings-growth ratio of 2.97 and a beta of 0.63.

Check Point Software Technologies (NASDAQ:CHKP - Get Free Report) last announced its quarterly earnings data 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 business had revenue of $635.10 million during the quarter, compared to analyst estimates of $634.96 million. During the same period last year, the firm posted $1.80 EPS. The company's revenue was up 6.5% on a year-over-year basis. On average, sell-side analysts predict that Check Point Software Technologies Ltd. will post 7.87 earnings per share for the current fiscal year.

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.