Check Point Software Technologies (NASDAQ:CHKP) Lowered to Hold at Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft lowered shares of Check Point Software Technologies (NASDAQ:CHKPGet Rating) from a buy rating to a hold rating in a research note issued to investors on Monday morning, MarketBeat Ratings reports. Deutsche Bank Aktiengesellschaft currently has $150.00 price objective on the technology company’s stock, down from their previous price objective of $160.00.

CHKP has been the subject of a number of other research reports. Robert W. Baird reissued a neutral rating and issued a $136.00 price target on shares of Check Point Software Technologies in a report on Wednesday, October 19th. Morgan Stanley increased their price target on Check Point Software Technologies from $120.00 to $125.00 and gave the company an underweight rating in a report on Friday, October 28th. StockNews.com began coverage on Check Point Software Technologies in a report on Wednesday, October 12th. They set a buy rating on the stock. Wells Fargo & Company raised Check Point Software Technologies from an underweight rating to an equal weight rating and set a $130.00 target price on the stock in a report on Tuesday, January 17th. Finally, Piper Sandler increased their target price on Check Point Software Technologies from $125.00 to $130.00 in a report on Thursday, January 5th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, Check Point Software Technologies has a consensus rating of Hold and a consensus target price of $138.86.

Check Point Software Technologies Stock Performance

CHKP stock opened at $129.03 on Monday. Check Point Software Technologies has a 1 year low of $107.54 and a 1 year high of $149.62. The firm has a market cap of $16.18 billion, a P/E ratio of 21.12, a price-to-earnings-growth ratio of 2.59 and a beta of 0.68. The stock has a 50-day simple moving average of $129.30 and a 200-day simple moving average of $123.47.

Check Point Software Technologies (NASDAQ:CHKPGet Rating) last issued its quarterly earnings results on Thursday, October 27th. The technology company reported $1.51 EPS for the quarter, beating analysts’ consensus estimates of $1.45 by $0.06. The firm had revenue of $577.60 million during the quarter, compared to the consensus estimate of $571.78 million. Check Point Software Technologies had a return on equity of 26.20% and a net margin of 34.35%. Check Point Software Technologies’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.44 earnings per share. On average, equities research analysts predict that Check Point Software Technologies will post 6.37 EPS for the current year.

Institutional Trading of Check Point Software Technologies

Several large investors have recently added to or reduced their stakes in CHKP. Massachusetts Financial Services Co. MA increased its position in Check Point Software Technologies by 20.2% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 7,631,197 shares of the technology company’s stock valued at $854,846,000 after acquiring an additional 1,280,868 shares during the period. Nordea Investment Management AB increased its position in Check Point Software Technologies by 31.9% in the 3rd quarter. Nordea Investment Management AB now owns 3,256,416 shares of the technology company’s stock valued at $370,677,000 after acquiring an additional 786,647 shares during the period. Clal Insurance Enterprises Holdings Ltd increased its position in Check Point Software Technologies by 116.2% in the 2nd quarter. Clal Insurance Enterprises Holdings Ltd now owns 1,060,810 shares of the technology company’s stock valued at $129,185,000 after acquiring an additional 570,233 shares during the period. Allspring Global Investments Holdings LLC increased its position in Check Point Software Technologies by 79.2% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 900,204 shares of the technology company’s stock valued at $109,626,000 after acquiring an additional 397,986 shares during the period. Finally, Great West Life Assurance Co. Can acquired a new stake in Check Point Software Technologies in the 3rd quarter valued at approximately $35,461,000. 64.76% of the stock is currently owned by institutional investors and hedge funds.

About Check Point Software Technologies

(Get Rating)

Check Point Software Technologies Ltd. is engaged in the development and marketing of software and hardware solutions for information technology security. Its products include Quantum, CloudGuard, Harmony, and Infinity-Vision. The company was founded by Gil Shwed, Marius Nacht, and Shlomo Kramer in July 1993 and is headquartered in Tel Aviv, Israel.

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