Check Point Software Technologies Ltd. (NASDAQ:CHKP) Stake Reduced by Mcrae Capital Management Inc.

Mcrae Capital Management Inc. lowered its position in Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 1.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 121,325 shares of the technology company’s stock after selling 1,620 shares during the period. Check Point Software Technologies makes up approximately 4.6% of Mcrae Capital Management Inc.’s investment portfolio, making the stock its 6th largest holding. Mcrae Capital Management Inc. owned 0.11% of Check Point Software Technologies worth $23,393,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Check Point Software Technologies in the 2nd quarter worth approximately $30,000. Concord Wealth Partners purchased a new stake in Check Point Software Technologies in the 1st quarter worth approximately $31,000. Kathleen S. Wright Associates Inc. purchased a new stake in Check Point Software Technologies in the 3rd quarter worth approximately $33,000. FSC Wealth Advisors LLC purchased a new stake in Check Point Software Technologies in the 3rd quarter worth approximately $60,000. Finally, Sound Income Strategies LLC boosted its position in Check Point Software Technologies by 654.4% in the 3rd quarter. Sound Income Strategies LLC now owns 430 shares of the technology company’s stock worth $83,000 after purchasing an additional 373 shares in the last quarter. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Analysts Set New Price Targets

CHKP has been the subject of several research analyst reports. Robert W. Baird upped their target price on Check Point Software Technologies from $200.00 to $210.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. Evercore ISI raised Check Point Software Technologies to a “hold” rating in a research note on Monday, September 16th. Royal Bank of Canada upped their target price on Check Point Software Technologies from $165.00 to $187.00 and gave the stock a “sector perform” rating in a research note on Thursday, July 25th. Scotiabank upped their target price on Check Point Software Technologies from $180.00 to $200.00 and gave the stock a “sector outperform” rating in a research note on Thursday, July 25th. Finally, Truist Financial upped their target price on Check Point Software Technologies from $200.00 to $220.00 and gave the stock a “buy” rating in a research note on Wednesday. Fifteen equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, Check Point Software Technologies has a consensus rating of “Hold” and an average price target of $194.67.

Check Point Software Technologies Stock Up 0.9 %

Shares of CHKP opened at $207.16 on Friday. Check Point Software Technologies Ltd. has a 52-week low of $126.57 and a 52-week high of $210.70. The company has a market capitalization of $23.39 billion, a PE ratio of 28.77, a price-to-earnings-growth ratio of 3.17 and a beta of 0.62. The stock has a fifty day simple moving average of $195.32 and a two-hundred day simple moving average of $174.18.

Check Point Software Technologies (NASDAQ:CHKP) last issued its earnings results on Wednesday, July 24th. The technology company reported $2.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business had revenue of $627.40 million during the quarter, compared to the consensus estimate of $623.19 million. During the same period last year, the company earned $1.74 EPS. The company’s revenue for the quarter was up 6.6% on a year-over-year basis. As a group, equities analysts anticipate that Check Point Software Technologies Ltd. will post 7.83 earnings per share for the current fiscal year.

Check Point Software Technologies 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.