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

StockNews.com cut shares of Check Point Software Technologies (NASDAQ:CHKP) from a buy rating to a hold rating in a research report released on Tuesday morning.

Several other research analysts have also weighed in on CHKP. Barclays lifted their price objective on Check Point Software Technologies from $200.00 to $230.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 30th. Stifel Nicolaus lifted their price objective on Check Point Software Technologies from $190.00 to $220.00 and gave the stock a “hold” rating in a research report on Friday, January 31st. BMO Capital Markets raised their target price on Check Point Software Technologies from $215.00 to $245.00 and gave the company a “market perform” rating in a research note on Monday, February 3rd. Royal Bank of Canada raised their target price on Check Point Software Technologies from $187.00 to $215.00 and gave the company a “sector perform” rating in a research note on Friday, January 31st. Finally, Jefferies Financial Group raised their target price on Check Point Software Technologies from $220.00 to $225.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Twenty research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $216.95.

Check Point Software Technologies Trading Up 1.6 %

CHKP stock opened at $218.63 on Tuesday. The stock has a 50-day moving average price of $199.35 and a 200-day moving average price of $192.67. Check Point Software Technologies has a 1-year low of $145.75 and a 1-year high of $226.02. The firm has a market cap of $24.05 billion, a PE ratio of 29.27, a price-to-earnings-growth ratio of 3.41 and a beta of 0.65.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Mackenzie Financial Corp grew its position in Check Point Software Technologies by 2.5% in the fourth quarter. Mackenzie Financial Corp now owns 20,730 shares of the technology company’s stock worth $3,870,000 after acquiring an additional 506 shares in the last quarter. WCG Wealth Advisors LLC boosted its position in Check Point Software Technologies by 6.4% during the fourth quarter. WCG Wealth Advisors LLC now owns 13,472 shares of the technology company’s stock valued at $2,515,000 after buying an additional 814 shares during the period. Public Employees Retirement System of Ohio purchased a new stake in Check Point Software Technologies during the fourth quarter valued at about $40,160,000. Vise Technologies Inc. boosted its position in Check Point Software Technologies by 62.4% during the fourth quarter. Vise Technologies Inc. now owns 2,251 shares of the technology company’s stock valued at $420,000 after buying an additional 865 shares during the period. Finally, Glen Eagle Advisors LLC boosted its position in Check Point Software Technologies by 3.0% during the fourth quarter. Glen Eagle Advisors LLC now owns 14,159 shares of the technology company’s stock valued at $2,643,000 after buying an additional 418 shares during the period. 98.51% of the stock is currently owned by hedge funds and other institutional investors.

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.