Handelsbanken Fonder AB Trims Stock Position in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Handelsbanken Fonder AB cut its position in Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 2.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,469 shares of the technology company’s stock after selling 604 shares during the quarter. Handelsbanken Fonder AB’s holdings in Check Point Software Technologies were worth $4,139,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Check Point Software Technologies in the second quarter worth $30,000. Concord Wealth Partners bought a new stake in shares of Check Point Software Technologies during the 1st quarter valued at about $31,000. Richardson Financial Services Inc. purchased a new position in shares of Check Point Software Technologies during the fourth quarter worth about $33,000. Transcendent Capital Group LLC bought a new position in shares of Check Point Software Technologies in the first quarter worth approximately $107,000. Finally, Alaska Permanent Fund Corp purchased a new stake in Check Point Software Technologies in the first quarter valued at approximately $117,000. 87.62% of the stock is owned by institutional investors.

Check Point Software Technologies Price Performance

CHKP opened at $197.54 on Wednesday. The firm has a market capitalization of $22.30 billion, a price-to-earnings ratio of 27.44, a PEG ratio of 3.05 and a beta of 0.62. Check Point Software Technologies Ltd. has a one year low of $126.57 and a one year high of $197.81. The business has a 50 day simple moving average of $188.35 and a two-hundred day simple moving average of $170.11.

Check Point Software Technologies (NASDAQ:CHKP) last announced its quarterly earnings results on Wednesday, July 24th. The technology company reported $2.17 EPS for the quarter, topping analysts’ consensus estimates of $2.16 by $0.01. The company had revenue of $627.40 million during the quarter, compared to analyst estimates of $623.19 million. Check Point Software Technologies had a return on equity of 31.59% and a net margin of 33.61%. The firm’s revenue was up 6.6% on a year-over-year basis. During the same quarter last year, the firm posted $1.74 earnings per share. As a group, sell-side analysts expect that Check Point Software Technologies Ltd. will post 7.83 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have commented on CHKP shares. Robert W. Baird boosted their price target on shares of Check Point Software Technologies from $168.00 to $200.00 and gave the stock a “neutral” rating in a research note on Thursday, July 25th. Royal Bank of Canada increased their target price on Check Point Software Technologies from $165.00 to $187.00 and gave the company a “sector perform” rating in a research note on Thursday, July 25th. Wedbush lifted their price target on Check Point Software Technologies from $185.00 to $200.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. JPMorgan Chase & Co. increased their price objective on Check Point Software Technologies from $175.00 to $180.00 and gave the company a “neutral” rating in a research report on Thursday, July 25th. Finally, Barclays boosted their target price on Check Point Software Technologies from $175.00 to $192.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 25th. Sixteen analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, Check Point Software Technologies currently has a consensus rating of “Hold” and an average target price of $184.47.

About Check Point Software Technologies

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.