Meitav Investment House Ltd. Decreases Holdings in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Meitav Investment House Ltd. trimmed its position in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 15.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 176,449 shares of the technology company’s stock after selling 33,163 shares during the period. Meitav Investment House Ltd.’s holdings in Check Point Software Technologies were worth $33,997,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of CHKP. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Check Point Software Technologies during the 2nd quarter valued at about $30,000. Kathleen S. Wright Associates Inc. purchased a new position in shares of Check Point Software Technologies during the 3rd quarter valued at about $33,000. Concord Wealth Partners purchased a new position in shares of Check Point Software Technologies during the 3rd quarter valued at about $37,000. FSC Wealth Advisors LLC purchased a new position in shares of Check Point Software Technologies during the 3rd quarter valued at about $60,000. Finally, Sound Income Strategies LLC raised its holdings in shares of Check Point Software Technologies by 654.4% during the 3rd quarter. Sound Income Strategies LLC now owns 430 shares of the technology company’s stock valued at $83,000 after buying an additional 373 shares in the last quarter. 87.62% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. JPMorgan Chase & Co. increased their price objective on Check Point Software Technologies from $180.00 to $210.00 and gave the company a “neutral” rating in a research note on Monday. BMO Capital Markets increased their price objective on Check Point Software Technologies from $200.00 to $238.00 and gave the company a “market perform” rating in a research note on Friday, October 25th. Evercore ISI increased their price objective on Check Point Software Technologies from $180.00 to $185.00 and gave the company an “in-line” rating in a research note on Wednesday. Mizuho increased their price objective 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, Bank of America lowered Check Point Software Technologies from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $205.00 to $195.00 in a research note on Wednesday. Fifteen equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $197.74.

Check Point Software Technologies Trading Down 2.2 %

CHKP opened at $173.89 on Thursday. Check Point Software Technologies Ltd. has a 12-month low of $129.13 and a 12-month high of $210.70. The company has a market cap of $19.12 billion, a price-to-earnings ratio of 24.02, a price-to-earnings-growth ratio of 3.17 and a beta of 0.62. The stock has a fifty day simple moving average of $195.21 and a two-hundred day simple moving average of $174.67.

Check Point Software Technologies (NASDAQ:CHKP) last released its earnings results on Tuesday, October 29th. The technology company reported $2.25 EPS for the quarter, hitting analysts’ consensus estimates of $2.25. Check Point Software Technologies had a return on equity of 31.59% and a net margin of 33.61%. The firm had revenue of $635.10 million for the quarter, compared to analysts’ expectations of $634.96 million. During the same period in the prior year, the firm posted $1.80 earnings per share. The company’s quarterly revenue was up 6.5% on a year-over-year basis. On average, analysts predict that Check Point Software Technologies Ltd. will post 7.83 EPS for the current year.

Check Point Software Technologies Company 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.