Prime Capital Investment Advisors LLC Reduces Stock Position in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Prime Capital Investment Advisors LLC lowered its stake in Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 2.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,705 shares of the technology company’s stock after selling 185 shares during the period. Prime Capital Investment Advisors LLC’s holdings in Check Point Software Technologies were worth $1,486,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA grew its holdings in shares of Check Point Software Technologies by 2.1% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 5,527,700 shares of the technology company’s stock worth $912,070,000 after acquiring an additional 114,938 shares during the period. Acadian Asset Management LLC raised its holdings in Check Point Software Technologies by 10.5% in the second 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. Boston Partners lifted its position in Check Point Software Technologies by 13.1% during the first 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 period. Ninety One UK Ltd boosted its holdings in shares of Check Point Software Technologies by 1.1% during the 2nd quarter. Ninety One UK Ltd now owns 3,608,785 shares of the technology company’s stock valued at $595,450,000 after buying an additional 39,092 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. grew its position in shares of Check Point Software Technologies by 10.7% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,836,799 shares of the technology company’s stock worth $354,153,000 after buying an additional 177,104 shares during the period. 87.62% of the stock is owned by hedge funds and other institutional investors.

Check Point Software Technologies Price Performance

NASDAQ CHKP opened at $177.55 on Friday. The stock has a market capitalization of $19.53 billion, a price-to-earnings ratio of 24.21, a PEG ratio of 3.03 and a beta of 0.63. Check Point Software Technologies Ltd. has a 1-year low of $139.55 and a 1-year high of $210.70. The business’s fifty day moving average price is $192.02 and its 200-day moving average price is $175.87.

Check Point Software Technologies (NASDAQ:CHKP) last posted its earnings results on Tuesday, October 29th. The technology company reported $2.25 earnings per share for the quarter, meeting analysts’ consensus estimates of $2.25. The company had revenue of $635.10 million for the quarter, compared to the consensus estimate of $634.96 million. Check Point Software Technologies had a return on equity of 31.84% and a net margin of 33.17%. Check Point Software Technologies’s revenue was up 6.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.80 earnings per share. Equities research analysts anticipate that Check Point Software Technologies Ltd. will post 7.87 EPS for the current year.

Analysts Set New Price Targets

CHKP has been the subject of a number of recent research reports. Barclays lowered their price target on shares of Check Point Software Technologies from $210.00 to $200.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 29th. Royal Bank of Canada reissued a “sector perform” rating and issued a $187.00 price target on shares of Check Point Software Technologies in a research report on Wednesday, October 30th. JPMorgan Chase & Co. raised their price objective on Check Point Software Technologies from $180.00 to $210.00 and gave the company a “neutral” rating in a research report on Monday, October 28th. Bank of America downgraded Check Point Software Technologies from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $205.00 to $195.00 in a report on Wednesday, October 30th. Finally, Jefferies Financial Group raised their price target on Check Point Software Technologies from $210.00 to $225.00 and gave the company a “buy” rating in a report on Tuesday, September 24th. Fifteen research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $197.74.

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.