Allspring Global Investments Holdings LLC Lowers Stake in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Allspring Global Investments Holdings LLC cut its holdings in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 17.7% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 121,934 shares of the technology company’s stock after selling 26,314 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.11% of Check Point Software Technologies worth $23,510,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of CHKP. Bleakley Financial Group LLC grew its holdings in Check Point Software Technologies by 3.3% in the third quarter. Bleakley Financial Group LLC now owns 1,797 shares of the technology company’s stock valued at $346,000 after purchasing an additional 57 shares during the period. Heritage Family Offices LLP grew its stake in Check Point Software Technologies by 1.6% in the 3rd quarter. Heritage Family Offices LLP now owns 4,884 shares of the technology company’s stock valued at $942,000 after acquiring an additional 77 shares during the period. Argonautica Private Wealth Management Inc. increased its holdings in Check Point Software Technologies by 1.3% in the 2nd quarter. Argonautica Private Wealth Management Inc. now owns 5,928 shares of the technology company’s stock worth $978,000 after acquiring an additional 78 shares in the last quarter. Heron Bay Capital Management raised its position in Check Point Software Technologies by 0.3% during the second quarter. Heron Bay Capital Management now owns 32,873 shares of the technology company’s stock worth $5,424,000 after acquiring an additional 92 shares during the period. Finally, Mather Group LLC. lifted its holdings in Check Point Software Technologies by 5.1% during the second quarter. Mather Group LLC. now owns 2,056 shares of the technology company’s stock valued at $337,000 after purchasing an additional 99 shares in the last quarter. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Check Point Software Technologies Stock Performance

Shares of Check Point Software Technologies stock opened at $205.40 on Friday. The stock has a 50 day moving average of $194.49 and a 200 day moving average of $173.59. The firm has a market capitalization of $23.19 billion, a price-to-earnings ratio of 28.53, a PEG ratio of 3.17 and a beta of 0.62. Check Point Software Technologies Ltd. has a fifty-two week low of $126.57 and a fifty-two week high of $210.70.

Check Point Software Technologies (NASDAQ:CHKP) last released its quarterly earnings results on Wednesday, July 24th. The technology company reported $2.17 earnings per share for the quarter, topping analysts’ consensus estimates of $2.16 by $0.01. The business had revenue of $627.40 million during the quarter, compared to analysts’ expectations of $623.19 million. Check Point Software Technologies had a return on equity of 31.59% and a net margin of 33.61%. The company’s revenue was up 6.6% compared to the same quarter last year. During the same period in the prior year, the business posted $1.74 EPS. Analysts forecast that Check Point Software Technologies Ltd. will post 7.83 EPS for the current year.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. Barclays boosted their target price on shares of Check Point Software Technologies from $175.00 to $192.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 25th. BMO Capital Markets increased their target price on Check Point Software Technologies from $180.00 to $200.00 and gave the company a “market perform” rating in a report on Thursday, July 25th. Susquehanna lifted their price target on Check Point Software Technologies from $200.00 to $215.00 and gave the stock a “positive” rating in a research note on Thursday, July 25th. Deutsche Bank Aktiengesellschaft increased their price objective on Check Point Software Technologies from $175.00 to $185.00 and gave the company a “hold” rating in a research note on Thursday, July 25th. Finally, Evercore ISI raised shares of Check Point Software Technologies to a “hold” rating in a research note on Monday, September 16th. Fifteen equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $192.56.

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.