Check Point Software Technologies (NASDAQ:CHKP) Rating Increased to Hold at Evercore ISI

Evercore ISI upgraded shares of Check Point Software Technologies (NASDAQ:CHKP) to a hold rating in a research report released on Monday, Zacks.com reports.

A number of other analysts have also recently commented on the company. Needham & Company LLC reaffirmed a hold rating on shares of Check Point Software Technologies in a research note on Thursday, July 25th. JPMorgan Chase & Co. upped their target price on shares of Check Point Software Technologies from $175.00 to $180.00 and gave the company a neutral rating in a research note on Thursday, July 25th. Barclays increased their target price on shares of Check Point Software Technologies from $175.00 to $192.00 and gave the stock an equal weight rating in a report on Thursday, July 25th. Robert W. Baird boosted their price target on shares of Check Point Software Technologies from $168.00 to $200.00 and gave the company a neutral rating in a report on Thursday, July 25th. Finally, Jefferies Financial Group raised their price objective on Check Point Software Technologies from $185.00 to $210.00 and gave the stock a buy rating in a research note on Thursday, July 25th. Sixteen investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, Check Point Software Technologies currently has an average rating of Hold and a consensus price target of $183.68.

Check Point Software Technologies Stock Performance

CHKP opened at $191.70 on Monday. The company has a fifty day moving average price of $183.24 and a two-hundred day moving average price of $167.17. The firm has a market capitalization of $21.64 billion, a PE ratio of 26.63, a P/E/G ratio of 2.96 and a beta of 0.62. Check Point Software Technologies has a 52 week low of $126.57 and a 52 week high of $195.29.

Check Point Software Technologies (NASDAQ:CHKP) last announced its quarterly earnings data on Wednesday, July 24th. The technology company reported $2.17 EPS for the quarter, topping analysts’ consensus estimates of $2.16 by $0.01. The business had revenue of $627.40 million during the quarter, compared to analysts’ expectations of $623.19 million. Check Point Software Technologies had a return on equity of 31.59% and a net margin of 33.61%. The firm’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.74 earnings per share. Equities analysts forecast that Check Point Software Technologies will post 7.83 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Morningstar Investment Services LLC increased its holdings in shares of Check Point Software Technologies by 98.5% in the fourth quarter. Morningstar Investment Services LLC now owns 970,634 shares of the technology company’s stock valued at $148,080,000 after purchasing an additional 481,626 shares during the last quarter. Swedbank AB bought a new stake in shares of Check Point Software Technologies during the 1st quarter worth about $69,487,000. Boston Partners grew its stake in Check Point Software Technologies by 13.1% in the 1st quarter. Boston Partners now owns 3,623,923 shares of the technology company’s stock valued at $594,169,000 after buying an additional 419,404 shares during the last quarter. Acadian Asset Management LLC raised its holdings in Check Point Software Technologies by 10.5% in the 2nd quarter. Acadian Asset Management LLC now owns 4,108,685 shares of the technology company’s stock valued at $677,869,000 after acquiring an additional 391,983 shares during the period. Finally, Marshall Wace LLP bought a new position in Check Point Software Technologies in the 2nd quarter valued at about $47,244,000. 87.62% of the stock is 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.