The Manufacturers Life Insurance Company Sells 2,789 Shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP)

The Manufacturers Life Insurance Company lessened its stake in Check Point Software Technologies Ltd. (NASDAQ:CHKP - Free Report) by 6.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,759 shares of the technology company's stock after selling 2,789 shares during the period. The Manufacturers Life Insurance Company's holdings in Check Point Software Technologies were worth $8,244,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of CHKP. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Check Point Software Technologies in the 2nd quarter worth approximately $30,000. Kathleen S. Wright Associates Inc. purchased a new stake in shares of Check Point Software Technologies in the 3rd quarter valued at $33,000. Concord Wealth Partners purchased a new stake in shares of Check Point Software Technologies in the 3rd quarter valued at $37,000. Arrow Financial Corp boosted its stake in shares of 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 purchasing an additional 100 shares in the last quarter. Finally, FSC Wealth Advisors LLC purchased a new stake in shares of Check Point Software Technologies in the 3rd quarter valued at $60,000. Hedge funds and other institutional investors own 87.62% of the company's stock.

Analyst Ratings Changes

CHKP has been the subject of a number of research reports. Robert W. Baird cut their price objective on shares of Check Point Software Technologies from $210.00 to $205.00 and set a "neutral" rating for the company in a research note on Wednesday, October 30th. Jefferies Financial Group upped their price objective on shares of Check Point Software Technologies from $210.00 to $225.00 and gave the company a "buy" rating in a research note on Tuesday, September 24th. Bank of America cut shares of Check Point Software Technologies from a "buy" rating to a "neutral" rating and cut their price objective for the company from $205.00 to $195.00 in a research note on Wednesday, October 30th. Truist Financial increased their price target on shares of Check Point Software Technologies from $200.00 to $220.00 and gave the company a "buy" rating in a research report on Wednesday, October 23rd. Finally, Royal Bank of Canada reissued a "sector perform" rating and set a $187.00 price target on shares of Check Point Software Technologies 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 stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $197.74.

Check Point Software Technologies Stock Performance

Shares of Check Point Software Technologies stock traded up $3.13 during trading on Wednesday, hitting $190.22. The company's stock had a trading volume of 570,207 shares, compared to its average volume of 692,412. The company has a fifty day simple moving average of $188.73 and a two-hundred day simple moving average of $178.97. The company has a market capitalization of $20.92 billion, a PE ratio of 25.99, a P/E/G ratio of 3.11 and a beta of 0.63. Check Point Software Technologies Ltd. has a 52 week low of $143.28 and a 52 week high of $210.70.

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