King Luther Capital Management Corp Has $511,000 Stock Position in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

King Luther Capital Management Corp cut its stake in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 10.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,650 shares of the technology company’s stock after selling 312 shares during the period. King Luther Capital Management Corp’s holdings in Check Point Software Technologies were worth $511,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Swedbank AB bought a new stake in Check Point Software Technologies in the first quarter valued at approximately $69,487,000. Boston Partners grew its holdings in shares of 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 buying an additional 419,404 shares during the period. Acadian Asset Management LLC increased its position in shares of Check Point Software Technologies by 10.5% in 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 buying an additional 391,983 shares in the last quarter. Marshall Wace LLP acquired a new stake in Check Point Software Technologies during the 2nd quarter worth $47,244,000. Finally, Meitav Investment House Ltd. lifted its holdings in Check Point Software Technologies by 1,295.8% during the second quarter. Meitav Investment House Ltd. now owns 209,612 shares of the technology company’s stock worth $34,557,000 after acquiring an additional 194,595 shares in the last quarter. Institutional investors own 87.62% of the company’s stock.

Check Point Software Technologies Trading Down 0.1 %

Shares of CHKP opened at $181.75 on Friday. The company has a market cap of $19.99 billion, a price-to-earnings ratio of 24.83, a PEG ratio of 3.10 and a beta of 0.63. The company’s fifty day simple moving average is $190.21 and its 200 day simple moving average is $177.15. Check Point Software Technologies Ltd. has a 1-year low of $143.28 and a 1-year high of $210.70.

Check Point Software Technologies (NASDAQ:CHKP) last issued its earnings results on Tuesday, October 29th. The technology company reported $2.25 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $2.25. The company had revenue of $635.10 million for the quarter, compared to analysts’ expectations of $634.96 million. Check Point Software Technologies had a net margin of 33.17% and a return on equity of 31.84%. Check Point Software Technologies’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.80 EPS. As a group, research analysts forecast that Check Point Software Technologies Ltd. will post 7.87 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on CHKP shares. Needham & Company LLC reaffirmed a “hold” rating on shares of Check Point Software Technologies in a research report on Wednesday, October 30th. JPMorgan Chase & Co. lifted their price target on shares of Check Point Software Technologies from $180.00 to $210.00 and gave the company a “neutral” rating in a research note on Monday, October 28th. Evercore ISI increased their price objective on shares of Check Point Software Technologies from $180.00 to $185.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 30th. Robert W. Baird cut their price objective on shares of Check Point Software Technologies from $210.00 to $205.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 30th. Finally, Mizuho upped their target price on shares of Check Point Software Technologies from $178.00 to $205.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Fifteen equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $197.74.

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.