Mount Yale Investment Advisors LLC Decreases Stake in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Mount Yale Investment Advisors LLC decreased its holdings in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 7.1% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,933 shares of the technology company’s stock after selling 378 shares during the quarter. Mount Yale Investment Advisors LLC’s holdings in Check Point Software Technologies were worth $951,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Kathleen S. Wright Associates Inc. purchased a new stake in Check Point Software Technologies during the 3rd quarter valued at about $33,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Check Point Software Technologies in the second quarter valued at approximately $30,000. Concord Wealth Partners acquired a new stake in shares of Check Point Software Technologies in the first quarter valued at approximately $31,000. FSC Wealth Advisors LLC purchased a new position in Check Point Software Technologies during the third quarter worth approximately $60,000. Finally, Sound Income Strategies LLC boosted its stake in Check Point Software Technologies by 654.4% during the third quarter. Sound Income Strategies LLC now owns 430 shares of the technology company’s stock worth $83,000 after buying an additional 373 shares during the last quarter. 87.62% of the stock is currently owned by institutional investors and hedge funds.

Check Point Software Technologies Stock Performance

Shares of CHKP stock opened at $207.16 on Friday. The stock has a market capitalization of $23.39 billion, a P/E ratio of 28.77, a price-to-earnings-growth ratio of 3.17 and a beta of 0.62. Check Point Software Technologies Ltd. has a fifty-two week low of $126.57 and a fifty-two week high of $210.70. The company has a 50 day moving average price of $194.88 and a 200 day moving average price of $173.81.

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 for the quarter, topping analysts’ consensus estimates of $2.16 by $0.01. The business had revenue of $627.40 million for the quarter, compared to analyst estimates of $623.19 million. Check Point Software Technologies had a return on equity of 31.59% and a net margin of 33.61%. The company’s revenue was up 6.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.74 earnings per share. On average, research analysts forecast that Check Point Software Technologies Ltd. will post 7.83 EPS for the current fiscal year.

Wall Street Analyst Weigh In

CHKP has been the topic of several analyst reports. Robert W. Baird lifted their price target on Check Point Software Technologies from $200.00 to $210.00 and gave the stock a “neutral” rating in a report on Tuesday. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Check Point Software Technologies from $175.00 to $185.00 and gave the company a “hold” rating in a report on Thursday, July 25th. Truist Financial increased their price target on shares of Check Point Software Technologies from $200.00 to $220.00 and gave the company a “buy” rating in a research note on Wednesday. Needham & Company LLC reaffirmed a “hold” rating on shares of Check Point Software Technologies in a research report on Thursday, July 25th. Finally, Barclays increased their price objective on Check Point Software Technologies from $175.00 to $192.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 25th. Fifteen analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, Check Point Software Technologies has an average rating of “Hold” and a consensus target price of $194.67.

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.