Check Point Software Technologies (NASDAQ:CHKP) Given New $207.00 Price Target at Royal Bank Of Canada

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Check Point Software Technologies (NASDAQ:CHKP - Free Report) had its price objective reduced by Royal Bank Of Canada from $224.00 to $207.00 in a report issued on Thursday morning,Benzinga reports. They currently have a sector perform rating on the technology company's stock.

A number of other analysts also recently issued reports on the company. Wall Street Zen raised Check Point Software Technologies from a "hold" rating to a "buy" rating in a research report on Tuesday, May 13th. Scotiabank cut their price objective on Check Point Software Technologies from $240.00 to $220.00 and set a "sector outperform" rating for the company in a research report on Thursday. UBS Group cut their price objective on Check Point Software Technologies from $220.00 to $210.00 and set a "neutral" rating for the company in a research report on Thursday. Morgan Stanley cut their price objective on Check Point Software Technologies from $235.00 to $220.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 16th. Finally, Stephens dropped their target price on Check Point Software Technologies from $229.00 to $210.00 and set an "equal weight" rating for the company in a research report on Thursday. Fifteen research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $228.08.

Check Point Software Technologies Price Performance

Shares of NASDAQ:CHKP traded up $2.38 during midday trading on Thursday, reaching $188.58. 1,821,631 shares of the company's stock were exchanged, compared to its average volume of 966,519. The firm's 50 day simple moving average is $220.54 and its two-hundred day simple moving average is $217.91. The stock has a market cap of $20.74 billion, a price-to-earnings ratio of 24.55, a P/E/G ratio of 2.71 and a beta of 0.59. Check Point Software Technologies has a fifty-two week low of $169.01 and a fifty-two week high of $234.35.

Check Point Software Technologies (NASDAQ:CHKP - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The technology company reported $2.37 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.36 by $0.01. The firm had revenue of $665.20 million during the quarter, compared to the consensus estimate of $663.10 million. Check Point Software Technologies had a return on equity of 33.21% and a net margin of 32.48%. The company's quarterly revenue was up 6.0% on a year-over-year basis. During the same period last year, the company earned $2.17 EPS. Equities research analysts predict that Check Point Software Technologies will post 8.61 earnings per share for the current fiscal year.

Institutional Trading of Check Point Software Technologies

Several institutional investors have recently modified their holdings of CHKP. American Century Companies Inc. lifted its position in shares of Check Point Software Technologies by 107.2% during the 4th quarter. American Century Companies Inc. now owns 41,616 shares of the technology company's stock worth $7,770,000 after buying an additional 21,532 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of Check Point Software Technologies by 23.8% during the fourth quarter. JPMorgan Chase & Co. now owns 186,177 shares of the technology company's stock worth $34,759,000 after purchasing an additional 35,766 shares during the last quarter. New Age Alpha Advisors LLC purchased a new stake in shares of Check Point Software Technologies during the fourth quarter worth approximately $236,000. Schroder Investment Management Group raised its stake in shares of Check Point Software Technologies by 53.9% during the fourth quarter. Schroder Investment Management Group now owns 4,706 shares of the technology company's stock worth $881,000 after purchasing an additional 1,649 shares during the last quarter. Finally, Wellington Management Group LLP raised its stake in shares of Check Point Software Technologies by 3.4% during the fourth quarter. Wellington Management Group LLP now owns 13,885 shares of the technology company's stock worth $2,592,000 after purchasing an additional 452 shares during the last quarter. Hedge funds and other institutional investors 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.