Check Point Software Technologies (NASDAQ:CHKP) Upgraded to Hold by Evercore ISI

Check Point Software Technologies (NASDAQ:CHKP) was upgraded by analysts at Evercore ISI to a “hold” rating in a research note issued on Monday, Zacks.com reports.

A number of other equities analysts have also commented on CHKP. Barclays raised their price objective 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 lifted their target price on Check Point Software Technologies from $180.00 to $200.00 and gave the company a “market perform” rating in a research note on Thursday, July 25th. Scotiabank increased their price objective on Check Point Software Technologies from $180.00 to $200.00 and gave the stock a “sector outperform” rating in a report on Thursday, July 25th. Deutsche Bank Aktiengesellschaft boosted their target price 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, Jefferies Financial Group raised their price target on Check Point Software Technologies from $185.00 to $210.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Sixteen analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $183.68.

Check Point Software Technologies Stock Down 0.7 %

Shares of Check Point Software Technologies stock opened at $191.70 on Monday. Check Point Software Technologies has a 12-month low of $126.57 and a 12-month high of $195.29. The firm has a market capitalization of $21.64 billion, a PE ratio of 26.63, a price-to-earnings-growth ratio of 2.96 and a beta of 0.62. The stock’s fifty day moving average is $183.24 and its 200-day moving average is $167.17.

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

Hedge Funds Weigh In On Check Point Software Technologies

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Massachusetts Financial Services Co. MA increased its holdings in Check Point Software Technologies by 2.1% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 5,527,700 shares of the technology company’s stock valued at $912,070,000 after buying an additional 114,938 shares during the period. Acadian Asset Management LLC increased its holdings in Check Point Software Technologies by 10.5% during the 2nd quarter. Acadian Asset Management LLC now owns 4,108,685 shares of the technology company’s stock valued at $677,869,000 after purchasing an additional 391,983 shares in the last quarter. Boston Partners raised its position in Check Point Software Technologies by 13.1% in the 1st quarter. Boston Partners now owns 3,623,923 shares of the technology company’s stock valued at $594,169,000 after purchasing an additional 419,404 shares during the last quarter. Ninety One UK Ltd boosted its stake in Check Point Software Technologies by 1.1% in the second quarter. Ninety One UK Ltd now owns 3,608,785 shares of the technology company’s stock worth $595,450,000 after purchasing an additional 39,092 shares in the last quarter. Finally, Nordea Investment Management AB boosted its stake in Check Point Software Technologies by 3.0% in the first quarter. Nordea Investment Management AB now owns 2,674,761 shares of the technology company’s stock worth $440,266,000 after purchasing an additional 77,849 shares in the last quarter. Institutional investors own 87.62% of the company’s stock.

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.