Check Point Software Technologies Ltd. (NASDAQ:CHKP) Shares Sold by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA lowered its position in Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 3.8% in the third quarter, HoldingsChannel reports. The firm owned 5,318,273 shares of the technology company’s stock after selling 209,427 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Check Point Software Technologies were worth $1,025,416,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Swedbank AB purchased a new position in shares of Check Point Software Technologies during the 1st quarter worth $69,487,000. Boston Partners boosted its stake in Check Point Software Technologies by 13.1% during the first quarter. Boston Partners now owns 3,623,923 shares of the technology company’s stock worth $594,169,000 after buying an additional 419,404 shares during the period. Acadian Asset Management LLC boosted its stake in Check Point Software Technologies by 10.5% during the second quarter. Acadian Asset Management LLC now owns 4,108,685 shares of the technology company’s stock worth $677,869,000 after buying an additional 391,983 shares during the period. Marshall Wace LLP acquired a new stake in shares of Check Point Software Technologies during the second quarter valued at about $47,244,000. Finally, Meitav Investment House Ltd. lifted its holdings in shares of Check Point Software Technologies by 1,295.8% in the 2nd quarter. Meitav Investment House Ltd. now owns 209,612 shares of the technology company’s stock worth $34,557,000 after acquiring an additional 194,595 shares during the last quarter. 87.62% of the stock is currently owned by institutional investors and hedge funds.

Check Point Software Technologies Stock Up 1.3 %

Shares of NASDAQ CHKP opened at $176.83 on Thursday. The business has a 50-day moving average price of $190.65 and a 200 day moving average price of $176.76. The stock has a market cap of $19.45 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 Ltd. has a 52-week low of $142.60 and a 52-week high of $210.70.

Check Point Software Technologies (NASDAQ:CHKP) last announced its earnings results on Tuesday, October 29th. The technology company reported $2.25 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $2.25. The business had revenue of $635.10 million for 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%. The company’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same period last year, the firm posted $1.80 earnings per share. Sell-side analysts anticipate that Check Point Software Technologies Ltd. will post 7.87 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have issued reports on CHKP shares. Scotiabank boosted their target price on Check Point Software Technologies from $180.00 to $200.00 and gave the company a “sector outperform” rating in a research report on Thursday, July 25th. Susquehanna raised their target price on Check Point Software Technologies from $200.00 to $215.00 and gave the company a “positive” rating in a report on Thursday, July 25th. 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 research note on Wednesday, October 30th. Bank of America lowered shares of Check Point Software Technologies from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $205.00 to $195.00 in a research note on Wednesday, October 30th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on shares of Check Point Software Technologies from $175.00 to $185.00 and gave the stock a “hold” rating in a report on Thursday, July 25th. Fifteen analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target 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.