Check Point Software Technologies Ltd. (NASDAQ:CHKP) Shares Sold by Royal London Asset Management Ltd.

Royal London Asset Management Ltd. cut its holdings in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 6.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 45,424 shares of the technology company’s stock after selling 3,269 shares during the period. Royal London Asset Management Ltd.’s holdings in Check Point Software Technologies were worth $8,758,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Massachusetts Financial Services Co. MA grew its position 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 acquiring an additional 114,938 shares during the last quarter. Acadian Asset Management LLC grew its position in shares of Check Point Software Technologies by 10.5% during the second quarter. Acadian Asset Management LLC now owns 4,108,685 shares of the technology company’s stock worth $677,869,000 after acquiring an additional 391,983 shares during the last quarter. Ninety One UK Ltd grew its position in shares of Check Point Software Technologies by 1.1% during the second quarter. Ninety One UK Ltd now owns 3,608,785 shares of the technology company’s stock worth $595,450,000 after acquiring an additional 39,092 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its position in shares of Check Point Software Technologies by 10.7% during the third quarter. Robeco Institutional Asset Management B.V. now owns 1,836,799 shares of the technology company’s stock worth $354,153,000 after acquiring an additional 177,104 shares during the last quarter. Finally, FMR LLC grew its position in shares of Check Point Software Technologies by 28.7% during the third quarter. FMR LLC now owns 1,133,175 shares of the technology company’s stock worth $218,488,000 after acquiring an additional 252,581 shares during the last quarter. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on CHKP shares. Mizuho raised their target price on shares of Check Point Software Technologies from $178.00 to $205.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Bank of America lowered shares of Check Point Software Technologies from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $205.00 to $195.00 in a research report on Wednesday, October 30th. Barclays lowered their price objective on shares of Check Point Software Technologies from $210.00 to $200.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 29th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $187.00 price objective on shares of Check Point Software Technologies in a research report on Wednesday, October 30th. Finally, Truist Financial lifted their price objective on shares of Check Point Software Technologies from $200.00 to $220.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Fifteen 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.com, the stock currently has an average rating of “Hold” and a consensus price target of $197.74.

Check Point Software Technologies Stock Down 0.7 %

NASDAQ:CHKP opened at $186.82 on Friday. The company has a market capitalization of $20.55 billion, a PE ratio of 25.52, a price-to-earnings-growth ratio of 3.25 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. The stock has a fifty day simple moving average of $188.46 and a 200-day simple moving average of $179.47.

Check Point Software Technologies (NASDAQ:CHKP) last released its quarterly 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 business had revenue of $635.10 million during 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%. The business’s revenue was up 6.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.80 EPS. As a group, equities analysts anticipate that Check Point Software Technologies Ltd. will post 7.86 earnings per share 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.