StockNews.com Downgrades Check Point Software Technologies (NASDAQ:CHKP) to Hold

Check Point Software Technologies (NASDAQ:CHKP) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Saturday.

Several other equities research analysts have also issued reports on CHKP. Guggenheim reaffirmed a “neutral” rating on shares of Check Point Software Technologies in a research note on Friday, January 31st. Arete Research raised Check Point Software Technologies to a “hold” rating in a research report on Monday, February 24th. Barclays raised their price objective on Check Point Software Technologies from $200.00 to $230.00 and gave the company an “equal weight” rating in a research note on Thursday, January 30th. BMO Capital Markets upgraded Check Point Software Technologies from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $245.00 to $275.00 in a report on Friday. Finally, Morgan Stanley began coverage on Check Point Software Technologies in a report on Tuesday, March 18th. They set an “equal weight” rating and a $235.00 price target on the stock. Sixteen analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $234.18.

Check Point Software Technologies Stock Performance

Shares of CHKP opened at $228.37 on Friday. The firm has a market cap of $25.12 billion, a PE ratio of 30.57, a PEG ratio of 3.41 and a beta of 0.62. The firm’s 50 day moving average price is $217.58 and its 200 day moving average price is $198.60. Check Point Software Technologies has a twelve month low of $145.75 and a twelve month high of $234.36.

Hedge Funds Weigh In On Check Point Software Technologies

Hedge funds have recently made changes to their positions in the business. Norges Bank bought a new stake in Check Point Software Technologies in the fourth quarter valued at about $428,820,000. Clearbridge Investments LLC acquired a new stake in Check Point Software Technologies during the fourth quarter valued at approximately $100,456,000. Causeway Capital Management LLC grew its stake in shares of Check Point Software Technologies by 33.8% in the 4th quarter. Causeway Capital Management LLC now owns 1,929,604 shares of the technology company’s stock valued at $360,257,000 after purchasing an additional 487,823 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of 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 buying an additional 464,821 shares in the last quarter. Finally, Altshuler Shaham Ltd bought a new position in shares of Check Point Software Technologies during the 4th quarter worth approximately $73,186,000. Institutional investors and hedge funds own 98.51% of the company’s stock.

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.