Short Interest in Check Point Software Technologies Ltd. (NASDAQ:CHKP) Rises By 12.0%

Check Point Software Technologies Ltd. (NASDAQ:CHKP) saw a significant increase in short interest during the month of November. As of November 15th, there was short interest totalling 3,180,000 shares, an increase of 12.0% from the October 31st total of 2,840,000 shares. Based on an average trading volume of 688,600 shares, the days-to-cover ratio is currently 4.6 days. Approximately 3.7% of the company’s shares are short sold.

Check Point Software Technologies Stock Performance

NASDAQ:CHKP opened at $182.00 on Monday. The stock has a 50-day simple moving average of $189.23 and a 200 day simple moving average of $178.42. Check Point Software Technologies has a 52-week low of $143.28 and a 52-week high of $210.70. The company has a market cap of $20.02 billion, a PE ratio of 24.86, a PEG ratio of 3.11 and a beta of 0.63.

Check Point Software Technologies (NASDAQ:CHKP) last issued its quarterly earnings results on Tuesday, October 29th. The technology company reported $2.25 earnings per share for the quarter, hitting the consensus estimate of $2.25. The company had revenue of $635.10 million during the quarter, compared to analysts’ expectations of $634.96 million. Check Point Software Technologies had a net margin of 33.17% and a return on equity of 31.84%. The business’s quarterly revenue was up 6.5% on a year-over-year basis. During the same period last year, the business earned $1.80 EPS. On average, research analysts predict that Check Point Software Technologies will post 7.86 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

CHKP has been the topic of several recent research reports. Robert W. Baird decreased their price target on Check Point Software Technologies from $210.00 to $205.00 and set a “neutral” rating on the stock in a report on Wednesday, October 30th. Jefferies Financial Group lifted their price target on shares of Check Point Software Technologies from $210.00 to $225.00 and gave the stock a “buy” rating in a research report on Tuesday, September 24th. JPMorgan Chase & Co. boosted their price target on shares of Check Point Software Technologies from $180.00 to $210.00 and gave the stock a “neutral” rating in a research note on Monday, October 28th. Needham & Company LLC reaffirmed a “hold” rating on shares of Check Point Software Technologies in a research note on Wednesday, October 30th. Finally, Truist Financial upped their target price 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. Fifteen investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $197.74.

Hedge Funds Weigh In On Check Point Software Technologies

A number of large investors have recently modified their holdings of the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Check Point Software Technologies by 73.8% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,094,887 shares of the technology company’s stock worth $211,105,000 after acquiring an additional 464,821 shares in the last quarter. Acadian Asset Management LLC raised its stake in shares of 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 purchasing an additional 391,983 shares in the last quarter. Marshall Wace LLP acquired a new stake in shares of Check Point Software Technologies in the 2nd quarter valued at approximately $47,244,000. World Investment Advisors LLC acquired a new stake in shares of Check Point Software Technologies in the 3rd quarter valued at approximately $51,922,000. Finally, FMR LLC increased its holdings in Check Point Software Technologies by 28.7% during the third quarter. FMR LLC now owns 1,133,175 shares of the technology company’s stock worth $218,488,000 after buying an additional 252,581 shares during the last quarter. 87.62% of the stock is currently owned by institutional investors and hedge funds.

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.