Royal London Asset Management Ltd. lowered its position in Check Point Software Technologies Ltd. (NASDAQ:CHKP - Free Report) by 6.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 45,424 shares of the technology company's stock after selling 3,269 shares during the quarter. Royal London Asset Management Ltd.'s holdings in Check Point Software Technologies were worth $8,758,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. Bank of Montreal Can grew its holdings in shares of Check Point Software Technologies by 32.2% in the third quarter. Bank of Montreal Can now owns 85,639 shares of the technology company's stock valued at $16,532,000 after purchasing an additional 20,866 shares during the period. CWA Asset Management Group LLC purchased a new position in Check Point Software Technologies during the third quarter worth about $1,599,000. M&G Plc boosted its stake in Check Point Software Technologies by 10.0% during the second quarter. M&G Plc now owns 108,449 shares of the technology company's stock worth $17,894,000 after buying an additional 9,830 shares during the period. Milestone Asset Management LLC purchased a new position in Check Point Software Technologies during the second quarter worth about $1,357,000. Finally, Assenagon Asset Management S.A. boosted its stake in Check Point Software Technologies by 110.1% during the second quarter. Assenagon Asset Management S.A. now owns 55,903 shares of the technology company's stock worth $9,224,000 after buying an additional 29,298 shares during the period. Hedge funds and other institutional investors own 87.62% of the company's stock.
Shares of NASDAQ:CHKP opened at $186.82 on Friday. The firm's 50 day moving average price is $188.46 and its 200 day moving average price is $179.47. The stock has a market cap of $20.55 billion, a price-to-earnings ratio of 25.52, a price-to-earnings-growth ratio of 3.25 and a beta of 0.63. Check Point Software Technologies Ltd. has a fifty-two week low of $143.28 and a fifty-two week high of $210.70.
Check Point Software Technologies (NASDAQ:CHKP - Get Free Report) last released its quarterly earnings data on Tuesday, October 29th. The technology company reported $2.25 earnings per share for the quarter, hitting analysts' consensus estimates of $2.25. Check Point Software Technologies had a net margin of 33.17% and a return on equity of 31.84%. The company had revenue of $635.10 million for the quarter, compared to analysts' expectations of $634.96 million. During the same quarter last year, the company earned $1.80 earnings per share. The firm's revenue for the quarter was up 6.5% on a year-over-year basis. On average, equities analysts anticipate that Check Point Software Technologies Ltd. will post 7.86 EPS for the current year.
Several research analysts have weighed in on the stock. Truist Financial increased their target price on shares of Check Point Software Technologies from $200.00 to $220.00 and gave the stock a "buy" rating in a research note on Wednesday, October 23rd. Barclays lowered their target price on shares of Check Point Software Technologies from $210.00 to $200.00 and set an "equal weight" rating for the company in a research note on Tuesday, October 29th. Wedbush increased their target price on shares of Check Point Software Technologies from $200.00 to $230.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 9th. Bank of America lowered shares of Check Point Software Technologies from a "buy" rating to a "neutral" rating and lowered their target price for the stock from $205.00 to $195.00 in a research note on Wednesday, October 30th. Finally, Royal Bank of Canada reissued a "sector perform" rating and set a $187.00 price target on shares of Check Point Software Technologies in a research report on Wednesday, October 30th. Fifteen research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $197.74.
Read Our Latest Stock Analysis on 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.
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