King Luther Capital Management Corp Has $511,000 Stock Position in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

King Luther Capital Management Corp cut its stake in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 10.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,650 shares of the technology company’s stock after selling 312 shares during the period. King Luther Capital Management Corp’s holdings in Check Point Software Technologies were worth $511,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in CHKP. Tidal Investments LLC acquired a new stake in Check Point Software Technologies during the 1st quarter worth approximately $6,558,000. CWA Asset Management Group LLC acquired a new stake in shares of Check Point Software Technologies during the third quarter worth $1,599,000. M&G Plc boosted its position in shares of Check Point Software Technologies by 10.0% in the second quarter. M&G Plc now owns 108,449 shares of the technology company’s stock valued at $17,894,000 after acquiring an additional 9,830 shares during the period. California State Teachers Retirement System grew its stake in shares of Check Point Software Technologies by 11.6% in the first quarter. California State Teachers Retirement System now owns 149,989 shares of the technology company’s stock valued at $24,600,000 after acquiring an additional 15,647 shares in the last quarter. Finally, Milestone Asset Management LLC bought a new position in Check Point Software Technologies during the second quarter worth about $1,357,000. Institutional investors own 87.62% of the company’s stock.

Analysts Set New Price Targets

CHKP has been the topic of a number of analyst reports. Needham & Company LLC restated a “hold” rating on shares of Check Point Software Technologies in a research report on Wednesday, October 30th. Jefferies Financial Group increased their price target on Check Point Software Technologies from $210.00 to $225.00 and gave the stock a “buy” rating in a research report on Tuesday, September 24th. Mizuho lifted their price objective on Check Point Software Technologies from $178.00 to $205.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Wedbush increased their target price on Check Point Software Technologies from $200.00 to $230.00 and gave the stock an “outperform” rating in a report on Wednesday, October 9th. Finally, Bank of America cut Check Point Software Technologies from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $205.00 to $195.00 in a research report on Wednesday, October 30th. Fifteen research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $197.74.

Check Point Software Technologies Stock Down 0.1 %

Shares of CHKP stock opened at $181.75 on Friday. Check Point Software Technologies Ltd. has a twelve month low of $143.28 and a twelve month high of $210.70. The stock’s fifty day simple moving average is $190.21 and its 200 day simple moving average is $177.15. The firm has a market capitalization of $19.99 billion, a P/E ratio of 24.83, a P/E/G ratio of 3.10 and a beta of 0.63.

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