Check Point Software Technologies (NASDAQ:CHKP) Lowered to “Hold” Rating by StockNews.com

Check Point Software Technologies (NASDAQ:CHKP) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday.

Other equities research analysts have also issued reports about the company. Bank of America lowered Check Point Software Technologies from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $205.00 to $195.00 in a research note on Wednesday, October 30th. Piper Sandler upped their price target on Check Point Software Technologies from $185.00 to $195.00 and gave the company a “neutral” rating in a research report on Monday, January 6th. Guggenheim reiterated a “neutral” rating on shares of Check Point Software Technologies in a research note on Friday, January 31st. Evercore ISI boosted their target price on shares of Check Point Software Technologies from $180.00 to $185.00 and gave the company an “in-line” rating in a research note on Wednesday, October 30th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Check Point Software Technologies in a report on Friday, January 31st. Twenty equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Check Point Software Technologies presently has a consensus rating of “Hold” and an average target price of $216.95.

Check Point Software Technologies Trading Up 1.6 %

NASDAQ CHKP traded up $3.42 on Tuesday, reaching $218.63. The company’s stock had a trading volume of 727,006 shares, compared to its average volume of 908,645. Check Point Software Technologies has a 52 week low of $145.75 and a 52 week high of $226.02. The firm has a market cap of $24.05 billion, a PE ratio of 29.27, a price-to-earnings-growth ratio of 3.41 and a beta of 0.65. The business has a 50-day moving average price of $199.35 and a 200 day moving average price of $192.67.

Institutional Investors Weigh In On Check Point Software Technologies

Several institutional investors have recently modified their holdings of the business. Gitterman Wealth Management LLC boosted its stake in Check Point Software Technologies by 3.2% in the fourth quarter. Gitterman Wealth Management LLC now owns 1,533 shares of the technology company’s stock valued at $286,000 after acquiring an additional 48 shares during the last quarter. TD Waterhouse Canada Inc. lifted its stake in shares of Check Point Software Technologies by 1.7% in the 4th quarter. TD Waterhouse Canada Inc. now owns 3,095 shares of the technology company’s stock valued at $578,000 after purchasing an additional 52 shares during the period. Argonautica Private Wealth Management Inc. lifted its stake in shares of Check Point Software Technologies by 0.9% in the 4th quarter. Argonautica Private Wealth Management Inc. now owns 6,002 shares of the technology company’s stock valued at $1,121,000 after purchasing an additional 56 shares during the period. Regatta Capital Group LLC boosted its position in shares of Check Point Software Technologies by 4.9% in the 4th quarter. Regatta Capital Group LLC now owns 1,229 shares of the technology company’s stock worth $229,000 after purchasing an additional 57 shares during the last quarter. Finally, Kingsview Wealth Management LLC grew its stake in shares of Check Point Software Technologies by 3.1% during the fourth quarter. Kingsview Wealth Management LLC now owns 1,891 shares of the technology company’s stock worth $353,000 after purchasing an additional 57 shares during the period. Institutional investors and hedge funds own 98.51% 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.