Check Point Software Technologies Ltd. (NASDAQ:CHKP) Shares Sold by Swedbank AB

Swedbank AB reduced its stake in Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 0.0% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 423,282 shares of the technology company’s stock after selling 99 shares during the quarter. Swedbank AB’s holdings in Check Point Software Technologies were worth $81,613,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the stock. Massachusetts Financial Services Co. MA lifted its holdings in Check Point Software Technologies by 2.1% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 5,527,700 shares of the technology company’s stock worth $912,070,000 after buying an additional 114,938 shares in the last quarter. Acadian Asset Management LLC lifted its holdings in Check Point Software Technologies by 10.5% during the 2nd 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 in the last quarter. Boston Partners lifted its holdings in Check Point Software Technologies by 13.1% during the 1st 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 in the last quarter. Ninety One UK Ltd lifted its holdings in Check Point Software Technologies by 1.1% during the 2nd quarter. Ninety One UK Ltd now owns 3,608,785 shares of the technology company’s stock worth $595,450,000 after buying an additional 39,092 shares in the last quarter. Finally, Nordea Investment Management AB lifted its holdings in Check Point Software Technologies by 3.0% during the 1st quarter. Nordea Investment Management AB now owns 2,674,761 shares of the technology company’s stock worth $440,266,000 after buying an additional 77,849 shares in the last quarter. 87.62% of the stock is currently owned by institutional investors and hedge funds.

Check Point Software Technologies Price Performance

CHKP opened at $207.83 on Wednesday. Check Point Software Technologies Ltd. has a 12-month low of $126.57 and a 12-month high of $210.70. The firm’s fifty day moving average price is $191.52 and its 200 day moving average price is $171.86. The stock has a market capitalization of $23.47 billion, a PE ratio of 28.87, a P/E/G ratio of 3.17 and a beta of 0.62.

Check Point Software Technologies (NASDAQ:CHKP) last released its earnings results on Wednesday, July 24th. The technology company reported $2.17 earnings per share for the quarter, beating the consensus estimate of $2.16 by $0.01. Check Point Software Technologies had a net margin of 33.61% and a return on equity of 31.59%. The firm had revenue of $627.40 million during the quarter, compared to analyst estimates of $623.19 million. During the same quarter in the previous year, the firm earned $1.74 earnings per share. The firm’s revenue for the quarter was up 6.6% compared to the same quarter last year. On average, equities research analysts forecast that Check Point Software Technologies Ltd. will post 7.83 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. JPMorgan Chase & Co. increased their target price on shares of Check Point Software Technologies from $175.00 to $180.00 and gave the stock a “neutral” rating in a report on Thursday, July 25th. BMO Capital Markets increased their target price on shares of Check Point Software Technologies from $180.00 to $200.00 and gave the stock a “market perform” rating in a report on Thursday, July 25th. Royal Bank of Canada increased their price objective on shares of Check Point Software Technologies from $165.00 to $187.00 and gave the company a “sector perform” rating in a research report on Thursday, July 25th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Check Point Software Technologies from $175.00 to $185.00 and gave the company a “hold” rating in a research report on Thursday, July 25th. Finally, Wedbush increased their price objective on shares of Check Point Software Technologies from $200.00 to $230.00 and gave the company an “outperform” rating in a research report on Wednesday, October 9th. Sixteen analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $186.05.

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.