Te Ahumairangi Investment Management Ltd cut its position in Check Point Software Technologies Ltd. (NASDAQ:CHKP - Free Report) by 12.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 68,312 shares of the technology company's stock after selling 9,610 shares during the period. Check Point Software Technologies accounts for 2.3% of Te Ahumairangi Investment Management Ltd's holdings, making the stock its 7th largest position. Te Ahumairangi Investment Management Ltd owned about 0.06% of Check Point Software Technologies worth $13,097,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. FSA Wealth Management LLC acquired a new stake in shares of Check Point Software Technologies in the third quarter worth approximately $27,000. Kathleen S. Wright Associates Inc. acquired a new position in Check Point Software Technologies during the third quarter worth $33,000. Concord Wealth Partners acquired a new position in Check Point Software Technologies during the third quarter worth $37,000. Arrow Financial Corp boosted its stake in Check Point Software Technologies by 62.5% during the third quarter. Arrow Financial Corp now owns 260 shares of the technology company's stock worth $50,000 after buying an additional 100 shares during the last quarter. Finally, FSC Wealth Advisors LLC acquired a new position in Check Point Software Technologies during the third quarter worth $60,000. 87.62% of the stock is owned by institutional investors and hedge funds.
CHKP stock opened at $188.10 on Thursday. The business's fifty day moving average price is $188.32 and its 200 day moving average price is $180.12. Check Point Software Technologies Ltd. has a 12-month low of $144.66 and a 12-month high of $210.70. The company has a market capitalization of $20.69 billion, a PE ratio of 25.70, a P/E/G ratio of 3.18 and a beta of 0.63.
Check Point Software Technologies (NASDAQ:CHKP - Get Free Report) last issued its quarterly earnings results on Tuesday, October 29th. The technology company reported $2.25 earnings per share for the quarter, hitting the consensus estimate of $2.25. Check Point Software Technologies had a return on equity of 31.84% and a net margin of 33.17%. The company had revenue of $635.10 million for the quarter, compared to the consensus estimate of $634.96 million. During the same quarter in the prior year, the business earned $1.80 EPS. Check Point Software Technologies's revenue was up 6.5% on a year-over-year basis. Research analysts predict that Check Point Software Technologies Ltd. will post 7.87 EPS for the current fiscal year.
A number of equities analysts have weighed in on the company. Mizuho boosted their price objective on Check Point Software Technologies from $178.00 to $205.00 and gave the stock a "neutral" rating in a research note on Thursday, October 17th. Robert W. Baird lowered their price objective on Check Point Software Technologies from $210.00 to $205.00 and set a "neutral" rating on the stock in a research note on Wednesday, October 30th. Evercore ISI boosted their price objective on Check Point Software Technologies from $180.00 to $185.00 and gave the stock an "in-line" rating in a research note on Wednesday, October 30th. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $187.00 price target on shares of Check Point Software Technologies in a research note on Wednesday, October 30th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Check Point Software Technologies in a research note 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. Based on data from MarketBeat, Check Point Software Technologies currently has an average rating of "Hold" and a consensus price target of $197.74.
View Our Latest Report on CHKP
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.
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