Meitav Investment House Ltd. Has $34 Million Stake in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Meitav Investment House Ltd. trimmed its position in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 15.8% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 176,449 shares of the technology company’s stock after selling 33,163 shares during the quarter. Meitav Investment House Ltd. owned 0.16% of Check Point Software Technologies worth $33,997,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of CHKP. Bleakley Financial Group LLC raised its position in Check Point Software Technologies by 3.3% in the 3rd quarter. Bleakley Financial Group LLC now owns 1,797 shares of the technology company’s stock valued at $346,000 after buying an additional 57 shares during the last quarter. Brighton Jones LLC raised its position 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 valued at $258,000 after buying an additional 66 shares during the last quarter. Patriot Financial Group Insurance Agency LLC raised its position in Check Point Software Technologies by 1.2% in the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 5,402 shares of the technology company’s stock valued at $1,042,000 after buying an additional 66 shares during the last quarter. Heritage Family Offices LLP grew its stake in Check Point Software Technologies by 1.6% in the 3rd quarter. Heritage Family Offices LLP now owns 4,884 shares of the technology company’s stock valued at $942,000 after purchasing an additional 77 shares during the period. Finally, Argonautica Private Wealth Management Inc. grew its stake in Check Point Software Technologies by 1.3% in the 2nd quarter. Argonautica Private Wealth Management Inc. now owns 5,928 shares of the technology company’s stock valued at $978,000 after purchasing an additional 78 shares during the period. 87.62% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CHKP. Jefferies Financial Group upped their price objective on Check Point Software Technologies from $210.00 to $225.00 and gave the company a “buy” rating in a research note on Tuesday, September 24th. Royal Bank of Canada restated a “sector perform” rating and issued a $187.00 price objective on shares of Check Point Software Technologies in a research note on Wednesday. Bank of America downgraded Check Point Software Technologies from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $205.00 to $195.00 in a research note on Wednesday. Scotiabank upped their price objective on Check Point Software Technologies from $180.00 to $200.00 and gave the company a “sector outperform” rating in a research note on Thursday, July 25th. Finally, Truist Financial increased their price target on Check Point Software Technologies from $200.00 to $220.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Fifteen investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, Check Point Software Technologies currently has a consensus rating of “Hold” and an average price target of $197.74.

Check Point Software Technologies Stock Down 2.2 %

NASDAQ:CHKP opened at $173.89 on Thursday. The business’s 50-day moving average price is $195.21 and its two-hundred day moving average price is $174.67. Check Point Software Technologies Ltd. has a twelve month low of $129.13 and a twelve month high of $210.70. The stock has a market cap of $19.12 billion, a P/E ratio of 24.02, a PEG ratio of 3.17 and a beta of 0.62.

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 for the quarter, meeting the consensus estimate of $2.25. Check Point Software Technologies had a return on equity of 31.59% and a net margin of 33.61%. The firm had revenue of $635.10 million for the quarter, compared to analysts’ expectations of $634.96 million. During the same quarter last year, the firm posted $1.80 EPS. The company’s revenue was up 6.5% compared to the same quarter last year. On average, equities research analysts expect that Check Point Software Technologies Ltd. will post 7.83 EPS 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.