MAI Capital Management Sells 544 Shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP)

MAI Capital Management trimmed its stake in Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 17.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,638 shares of the technology company’s stock after selling 544 shares during the period. MAI Capital Management’s holdings in Check Point Software Technologies were worth $509,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of CHKP. Bleakley Financial Group LLC increased its position in Check Point Software Technologies by 3.3% in the third quarter. Bleakley Financial Group LLC now owns 1,797 shares of the technology company’s stock worth $346,000 after buying an additional 57 shares in the last quarter. Brighton Jones LLC increased its holdings in Check Point Software Technologies by 5.2% in the 3rd quarter. Brighton Jones LLC now owns 1,337 shares of the technology company’s stock worth $258,000 after acquiring an additional 66 shares in the last quarter. Patriot Financial Group Insurance Agency LLC raised its stake in Check Point Software Technologies by 1.2% during the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 5,402 shares of the technology company’s stock worth $1,042,000 after acquiring an additional 66 shares during the period. HF Advisory Group LLC lifted its holdings in Check Point Software Technologies by 1.2% during the third quarter. HF Advisory Group LLC now owns 6,061 shares of the technology company’s stock valued at $1,169,000 after purchasing an additional 73 shares in the last quarter. Finally, Heritage Family Offices LLP boosted its position in shares of Check Point Software Technologies by 1.6% in the third quarter. Heritage Family Offices LLP now owns 4,884 shares of the technology company’s stock worth $942,000 after purchasing an additional 77 shares during the period. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CHKP has been the topic of several recent analyst reports. Wedbush raised their price objective on shares of Check Point Software Technologies from $200.00 to $230.00 and gave the company an “outperform” rating in a research report on Wednesday, October 9th. BMO Capital Markets upped their price objective on Check Point Software Technologies from $200.00 to $238.00 and gave the stock a “market perform” rating in a research note on Friday, October 25th. Evercore ISI increased their target price on Check Point Software Technologies from $180.00 to $185.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. boosted their price target on Check Point Software Technologies from $180.00 to $210.00 and gave the stock a “neutral” rating in a report on Monday, October 28th. Finally, Robert W. Baird cut their price objective on shares of Check Point Software Technologies from $210.00 to $205.00 and set a “neutral” rating for the company in a report on Wednesday, October 30th. Fifteen research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, Check Point Software Technologies presently has a consensus rating of “Hold” and a consensus target price of $197.74.

Check Point Software Technologies Stock Down 0.1 %

Shares of CHKP opened at $181.75 on Friday. The business has a fifty day moving average of $190.21 and a 200 day moving average of $177.00. The company has a market cap of $19.99 billion, a PE ratio of 24.83, a P/E/G ratio of 2.97 and a beta of 0.63. Check Point Software Technologies Ltd. has a 52-week low of $143.28 and a 52-week high of $210.70.

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

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.