Check Point Software Technologies (NASDAQ:CHKP) Cut to Hold at StockNews.com

StockNews.com lowered shares of Check Point Software Technologies (NASDAQ:CHKP) from a buy rating to a hold rating in a research report report published on Tuesday morning.

CHKP has been the topic of a number of other reports. Susquehanna lifted their price target on Check Point Software Technologies from $215.00 to $255.00 and gave the company a “positive” rating in a research note on Friday, January 31st. Royal Bank of Canada lifted their price target on Check Point Software Technologies from $187.00 to $215.00 and gave the company a “sector perform” rating in a research note on Friday, January 31st. UBS Group lifted their price target on Check Point Software Technologies from $200.00 to $230.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. BMO Capital Markets boosted their target price on Check Point Software Technologies from $215.00 to $245.00 and gave the stock a “market perform” rating in a research report on Monday, February 3rd. Finally, Scotiabank boosted their target price on Check Point Software Technologies from $215.00 to $250.00 and gave the stock a “sector outperform” rating in a research report on Friday, January 31st. Eighteen investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $221.91.

Check Point Software Technologies Trading Down 1.9 %

NASDAQ:CHKP opened at $216.69 on Tuesday. The firm has a market cap of $23.83 billion, a P/E ratio of 29.01, a PEG ratio of 3.41 and a beta of 0.65. The stock’s 50 day simple moving average is $200.74 and its 200-day simple moving average is $193.03. Check Point Software Technologies has a 12-month low of $145.75 and a 12-month high of $226.02.

Institutional Investors Weigh In On Check Point Software Technologies

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Bank of Montreal Can grew its holdings in shares of Check Point Software Technologies by 32.2% during the third quarter. Bank of Montreal Can now owns 85,639 shares of the technology company’s stock valued at $16,532,000 after buying an additional 20,866 shares in the last quarter. CWA Asset Management Group LLC purchased a new position in shares of Check Point Software Technologies during the third quarter valued at $1,599,000. Truist Financial Corp grew its holdings in shares of Check Point Software Technologies by 2.6% during the fourth quarter. Truist Financial Corp now owns 119,504 shares of the technology company’s stock valued at $22,311,000 after buying an additional 3,080 shares in the last quarter. MML Investors Services LLC grew its holdings in shares of Check Point Software Technologies by 3.7% during the third quarter. MML Investors Services LLC now owns 103,507 shares of the technology company’s stock valued at $19,957,000 after buying an additional 3,655 shares in the last quarter. Finally, McHugh Group LLC purchased a new position in shares of Check Point Software Technologies during the fourth quarter valued at $241,000. 98.51% of the stock is owned by institutional investors and hedge funds.

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.