Brown Capital Management LLC Cuts Position in Check Point Software Technologies Ltd. $CHKP

Brown Capital Management LLC lowered its position in Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 5.1% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 62,853 shares of the technology company’s stock after selling 3,348 shares during the quarter. Brown Capital Management LLC owned approximately 0.06% of Check Point Software Technologies worth $13,005,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Davis Capital Management purchased a new position in shares of Check Point Software Technologies in the third quarter valued at $1,276,000. Ninety One UK Ltd lifted its holdings in shares of Check Point Software Technologies by 0.3% in the third quarter. Ninety One UK Ltd now owns 2,601,592 shares of the technology company’s stock valued at $538,295,000 after purchasing an additional 8,814 shares in the last quarter. Triton Financial Group Inc acquired a new stake in shares of Check Point Software Technologies in the second quarter valued at approximately $2,296,000. Meyer Handelman Co. increased its stake in shares of Check Point Software Technologies by 11.9% during the 3rd quarter. Meyer Handelman Co. now owns 52,291 shares of the technology company’s stock worth $10,820,000 after purchasing an additional 5,552 shares in the last quarter. Finally, Aberdeen Group plc raised its position in shares of Check Point Software Technologies by 4.9% during the 2nd quarter. Aberdeen Group plc now owns 39,850 shares of the technology company’s stock worth $8,817,000 after purchasing an additional 1,848 shares during the last quarter. Institutional investors and hedge funds own 98.51% of the company’s stock.

Analysts Set New Price Targets

CHKP has been the subject of several recent research reports. KeyCorp raised Check Point Software Technologies to a “hold” rating in a research report on Monday, January 12th. Cantor Fitzgerald reissued a “neutral” rating and issued a $220.00 target price on shares of Check Point Software Technologies in a research note on Wednesday, October 22nd. Roth Mkm restated a “neutral” rating on shares of Check Point Software Technologies in a report on Monday, October 27th. Barclays lowered their price target on shares of Check Point Software Technologies from $235.00 to $220.00 and set an “equal weight” rating for the company in a report on Monday, January 5th. Finally, Citigroup cut their price objective on shares of Check Point Software Technologies from $210.00 to $200.00 and set a “neutral” rating for the company in a research report on Tuesday, January 13th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and twelve have issued a Hold rating to the company. According to MarketBeat, Check Point Software Technologies presently has a consensus rating of “Moderate Buy” and an average target price of $226.62.

Check Point Software Technologies Stock Up 0.4%

NASDAQ:CHKP opened at $180.21 on Tuesday. The company has a market cap of $19.82 billion, a P/E ratio of 19.74, a P/E/G ratio of 2.89 and a beta of 0.59. The firm’s 50 day moving average is $187.03 and its two-hundred day moving average is $193.06. Check Point Software Technologies Ltd. has a fifty-two week low of $173.56 and a fifty-two week high of $234.35.

Check Point Software Technologies Profile

Check Point Software Technologies Ltd. is an Israeli-founded cybersecurity company that develops, markets and supports a broad portfolio of network, cloud and endpoint security products. Founded in 1993, the company was an early pioneer of stateful inspection firewall technology and later developed a modular “software blade” approach that allowed customers to combine protection capabilities. Check Point’s product set spans physical and virtual security appliances, software and cloud-native services designed to prevent cyberattacks, protect data and simplify security management for enterprises and service providers.

Key product families include Quantum Security Gateways (on-premises and hybrid appliances), CloudGuard (cloud security posture and workload protection), Harmony (endpoint, remote access and unified endpoint security), and SandBlast (advanced threat prevention and sandboxing).