Check Point Software Technologies Ltd. (NASDAQ:CHKP) is Te Ahumairangi Investment Management Ltd's 7th Largest Position

Te Ahumairangi Investment Management Ltd decreased its holdings in Check Point Software Technologies Ltd. (NASDAQ:CHKP - Free Report) by 12.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 68,312 shares of the technology company's stock after selling 9,610 shares during the period. Check Point Software Technologies accounts for approximately 2.3% of Te Ahumairangi Investment Management Ltd's holdings, making the stock its 7th biggest holding. Te Ahumairangi Investment Management Ltd owned 0.06% of Check Point Software Technologies worth $13,097,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. FSA Wealth Management LLC bought a new position in Check Point Software Technologies during the third quarter valued at $27,000. Kathleen S. Wright Associates Inc. bought a new position in Check Point Software Technologies during the 3rd quarter valued at about $33,000. Concord Wealth Partners purchased a new stake in Check Point Software Technologies in the 3rd quarter worth about $37,000. Arrow Financial Corp lifted its stake in Check Point Software Technologies by 62.5% in the third quarter. Arrow Financial Corp now owns 260 shares of the technology company's stock worth $50,000 after purchasing an additional 100 shares during the last quarter. Finally, FSC Wealth Advisors LLC purchased a new position in shares of Check Point Software Technologies during the third quarter valued at approximately $60,000. Hedge funds and other institutional investors own 87.62% of the company's stock.

Analyst Ratings Changes

CHKP has been the topic of several recent analyst reports. Wedbush increased their price target on Check Point Software Technologies from $200.00 to $230.00 and gave the stock an "outperform" rating in a report on Wednesday, October 9th. Bank of America downgraded Check Point Software Technologies from a "buy" rating to a "neutral" rating and decreased their target price for the stock from $205.00 to $195.00 in a research report on Wednesday, October 30th. Mizuho upped 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. Barclays decreased their price objective 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. Finally, Jefferies Financial Group upped their target price on shares of Check Point Software Technologies from $210.00 to $225.00 and gave the stock a "buy" rating in a research note on Tuesday, September 24th. Fifteen analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $197.74.

Check Point Software Technologies Stock Performance

CHKP traded up $1.40 on Thursday, hitting $189.50. The company had a trading volume of 435,695 shares, compared to its average volume of 687,848. The stock has a market capitalization of $20.84 billion, a price-to-earnings ratio of 25.91, a P/E/G ratio of 3.18 and a beta of 0.63. The stock has a fifty day moving average price of $188.26 and a 200-day moving average price of $180.18. Check Point Software Technologies Ltd. has a 12-month low of $144.66 and a 12-month high of $210.70.

Check Point Software Technologies (NASDAQ:CHKP - Get Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The technology company reported $2.25 EPS for the quarter, hitting the consensus estimate of $2.25. Check Point Software Technologies had a net margin of 33.17% and a return on equity of 31.84%. The firm had revenue of $635.10 million during the quarter, compared to analyst estimates of $634.96 million. During the same quarter in the previous year, the business posted $1.80 EPS. Check Point Software Technologies's revenue was up 6.5% on a year-over-year basis. Analysts forecast 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.