Check Point Software Technologies Ltd. (NASDAQ:CHKP) Shares Sold by M&T Bank Corp

M&T Bank Corp lowered its stake in Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 6.9% in the third quarter, HoldingsChannel reports. The institutional investor owned 7,263 shares of the technology company’s stock after selling 536 shares during the period. M&T Bank Corp’s holdings in Check Point Software Technologies were worth $1,400,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Check Point Software Technologies by 73.8% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,094,887 shares of the technology company’s stock worth $211,105,000 after acquiring an additional 464,821 shares during the last quarter. Acadian Asset Management LLC increased its holdings in shares of Check Point Software Technologies by 10.5% in the second quarter. Acadian Asset Management LLC now owns 4,108,685 shares of the technology company’s stock valued at $677,869,000 after purchasing an additional 391,983 shares during the period. Marshall Wace LLP purchased a new position in shares of Check Point Software Technologies in the second quarter worth about $47,244,000. World Investment Advisors LLC acquired a new stake in shares of Check Point Software Technologies during the third quarter worth about $51,922,000. Finally, FMR LLC lifted its holdings 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 purchasing an additional 252,581 shares during the period. 98.51% of the stock is currently owned by institutional investors and hedge funds.

Check Point Software Technologies Stock Performance

Shares of NASDAQ CHKP opened at $187.77 on Monday. The firm has a market cap of $20.65 billion, a PE ratio of 25.65, a PEG ratio of 3.21 and a beta of 0.63. Check Point Software Technologies Ltd. has a one year low of $144.66 and a one year high of $210.70. The firm has a fifty day moving average of $188.11 and a 200 day moving average of $180.91.

Check Point Software Technologies (NASDAQ:CHKP) last issued its quarterly earnings results on Tuesday, October 29th. The technology company reported $2.25 earnings per share for the quarter, meeting analysts’ consensus estimates of $2.25. Check Point Software Technologies had a net margin of 33.17% and a return on equity of 31.84%. 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 company posted $1.80 EPS. Check Point Software Technologies’s quarterly revenue was up 6.5% compared to the same quarter last year. On average, equities analysts predict that Check Point Software Technologies Ltd. will post 7.87 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on CHKP. Truist Financial raised their price target on shares of Check Point Software Technologies from $200.00 to $220.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Bank of America cut shares of Check Point Software Technologies from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $205.00 to $195.00 in a report on Wednesday, October 30th. Robert W. Baird lowered their price target on shares of Check Point Software Technologies from $210.00 to $205.00 and set a “neutral” rating on the stock in a report on Wednesday, October 30th. BMO Capital Markets lifted their price objective on Check Point Software Technologies from $200.00 to $238.00 and gave the company a “market perform” rating in a research note on Friday, October 25th. Finally, Barclays lowered their target price on Check Point Software Technologies from $210.00 to $200.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 29th. Fifteen analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, Check Point Software Technologies currently has an average rating of “Hold” and a consensus price target of $197.74.

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.