Raymond James & Associates Sells 684 Shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Raymond James & Associates lowered its stake in Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 0.5% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 138,136 shares of the technology company’s stock after selling 684 shares during the period. Raymond James & Associates’ holdings in Check Point Software Technologies were worth $26,634,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Massachusetts Financial Services Co. MA grew its holdings in shares of Check Point Software Technologies by 2.1% during the second quarter. Massachusetts Financial Services Co. MA now owns 5,527,700 shares of the technology company’s stock worth $912,070,000 after buying an additional 114,938 shares in the last quarter. Acadian Asset Management LLC raised its holdings in shares of 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 valued at $677,869,000 after purchasing an additional 391,983 shares during the last quarter. Boston Partners lifted its position in shares of Check Point Software Technologies by 13.1% in the first quarter. Boston Partners now owns 3,623,923 shares of the technology company’s stock worth $594,169,000 after purchasing an additional 419,404 shares in the last quarter. Ninety One UK Ltd grew its position in Check Point Software Technologies by 1.1% in the second quarter. Ninety One UK Ltd now owns 3,608,785 shares of the technology company’s stock valued at $595,450,000 after purchasing an additional 39,092 shares in the last quarter. Finally, Nordea Investment Management AB increased its stake in Check Point Software Technologies by 3.0% in the 1st quarter. Nordea Investment Management AB now owns 2,674,761 shares of the technology company’s stock valued at $440,266,000 after buying an additional 77,849 shares during the last quarter. Institutional investors own 87.62% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Scotiabank raised their price objective on Check Point Software Technologies from $180.00 to $200.00 and gave the company a “sector outperform” rating in a report on Thursday, July 25th. Evercore ISI raised Check Point Software Technologies to a “hold” rating in a research report on Monday, September 16th. Royal Bank of Canada increased their price objective on Check Point Software Technologies from $165.00 to $187.00 and gave the company a “sector perform” rating in a report on Thursday, July 25th. Barclays boosted 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. Finally, Wedbush increased their price target on shares of Check Point Software Technologies from $200.00 to $230.00 and gave the company an “outperform” rating in a research note on Wednesday, October 9th. Fifteen analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $192.56.

Check Point Software Technologies Stock Performance

Shares of Check Point Software Technologies stock opened at $205.40 on Friday. The firm has a 50-day moving average of $194.49 and a 200-day moving average of $173.59. Check Point Software Technologies Ltd. has a 52-week low of $126.57 and a 52-week high of $210.70. The stock has a market cap of $23.19 billion, a PE ratio of 28.53, a PEG ratio of 3.17 and a beta of 0.62.

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

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.