Check Point Software Technologies Ltd. (NASDAQ:CHKP) Position Cut by Harvey Partners LLC

Harvey Partners LLC trimmed its position in Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 9.1% during the third quarter, HoldingsChannel.com reports. The firm owned 87,250 shares of the technology company’s stock after selling 8,750 shares during the quarter. Check Point Software Technologies accounts for approximately 1.9% of Harvey Partners LLC’s investment portfolio, making the stock its 25th biggest holding. Harvey Partners LLC’s holdings in Check Point Software Technologies were worth $16,823,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. grew its holdings in Check Point Software Technologies by 1.3% during the first quarter. Vanguard Group Inc. now owns 335,251 shares of the technology company’s stock valued at $54,985,000 after purchasing an additional 4,194 shares during the period. Price T Rowe Associates Inc. MD grew its position in Check Point Software Technologies by 18.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 19,139 shares of the technology company’s stock worth $3,140,000 after purchasing an additional 3,008 shares during the period. Cetera Investment Advisers increased its stake in shares of Check Point Software Technologies by 1,020.7% in the first quarter. Cetera Investment Advisers now owns 56,551 shares of the technology company’s stock worth $9,275,000 after purchasing an additional 51,505 shares in the last quarter. Cetera Advisors LLC grew its holdings in shares of Check Point Software Technologies by 53.0% in the first quarter. Cetera Advisors LLC now owns 4,299 shares of the technology company’s stock valued at $705,000 after purchasing an additional 1,490 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new position in Check Point Software Technologies in the 2nd quarter valued at $30,000. Institutional investors and hedge funds own 87.62% of the company’s stock.

Check Point Software Technologies Trading Up 0.1 %

Check Point Software Technologies stock opened at $182.18 on Tuesday. The business’s 50 day simple moving average is $188.97 and its 200 day simple moving average is $178.64. The company has a market cap of $20.04 billion, a price-to-earnings ratio of 24.89, a PEG ratio of 3.11 and a beta of 0.63. Check Point Software Technologies Ltd. has a 12 month low of $143.28 and a 12 month high of $210.70.

Check Point Software Technologies (NASDAQ:CHKP) last released its earnings results on Tuesday, October 29th. The technology company reported $2.25 earnings per share (EPS) for the quarter, hitting the consensus estimate of $2.25. The business had revenue of $635.10 million for 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 company’s quarterly revenue was up 6.5% on a year-over-year basis. During the same period last year, the company earned $1.80 earnings per share. As a group, equities research analysts forecast that Check Point Software Technologies Ltd. will post 7.86 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $187.00 target price on shares of Check Point Software Technologies in a report on Wednesday, October 30th. 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. Evercore ISI lifted their target price on shares of Check Point Software Technologies from $180.00 to $185.00 and gave the company an “in-line” rating in a report on Wednesday, October 30th. Mizuho lifted their target price on Check Point Software Technologies from $178.00 to $205.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Finally, Robert W. Baird dropped their target price on shares of Check Point Software Technologies from $210.00 to $205.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 30th. Fifteen research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Check Point Software Technologies currently has a consensus rating of “Hold” and an average target price of $197.74.

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.