Check Point Software Technologies (NASDAQ:CHKP) Cut to “Hold” at StockNews.com

StockNews.com downgraded shares of Check Point Software Technologies (NASDAQ:CHKP) from a buy rating to a hold rating in a report published on Saturday morning.

Other equities analysts also recently issued reports about the stock. Piper Sandler raised shares of Check Point Software Technologies from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $220.00 to $260.00 in a research note on Monday, March 3rd. Stifel Nicolaus lifted their target price on shares of Check Point Software Technologies from $190.00 to $220.00 and gave the company a “hold” rating in a report on Friday, January 31st. Jefferies Financial Group boosted their price target on shares of Check Point Software Technologies from $250.00 to $255.00 and gave the stock a “buy” rating in a research note on Thursday, February 27th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $215.00 price objective on shares of Check Point Software Technologies in a research report on Thursday, February 27th. Finally, Arete Research raised Check Point Software Technologies to a “hold” rating in a research report on Monday, February 24th. Sixteen research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $234.18.

Check Point Software Technologies Trading Down 0.2 %

CHKP opened at $227.92 on Friday. The firm has a market capitalization of $25.07 billion, a PE ratio of 30.51, a PEG ratio of 3.41 and a beta of 0.62. The firm’s 50-day moving average price is $218.38 and its 200 day moving average price is $198.86. Check Point Software Technologies has a twelve month low of $145.75 and a twelve month high of $234.36.

Hedge Funds Weigh In On Check Point Software Technologies

Several institutional investors have recently added to or reduced their stakes in CHKP. Norges Bank acquired a new position in Check Point Software Technologies in the 4th quarter valued at $428,820,000. Clearbridge Investments LLC purchased a new stake in Check Point Software Technologies during the fourth quarter worth $100,456,000. Causeway Capital Management LLC boosted its position in shares of Check Point Software Technologies by 33.8% in the 4th quarter. Causeway Capital Management LLC now owns 1,929,604 shares of the technology company’s stock worth $360,257,000 after buying an additional 487,823 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Check Point Software Technologies by 73.8% in 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 valued at $211,105,000 after purchasing an additional 464,821 shares in the last quarter. Finally, Altshuler Shaham Ltd purchased a new stake in Check Point Software Technologies in the 4th quarter valued at approximately $73,186,000. Institutional investors and hedge funds own 98.51% of the company’s stock.

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.