Check Point Software Technologies Ltd. $CHKP Stock: Compass Capital Management Inc. Decreases Holdings

Key Points

• Compass Capital Management cut its Check Point stake by 89.3% in the third quarter, selling 310,588 shares; it retained 37,200 shares valued at about $4.8 million.
• Analyst consensus was Hold, with 10 Buy and 20 Hold ratings and an average price target of $151.32.
• Check Point reported quarterly EPS of $2.49, slightly above estimates, while revenue of $669.8 million missed forecasts and fell 1.1% year over year.

Compass Capital Management Inc. cut its stake in Check Point Software Technologies Ltd. (NASDAQ:CHKP - Free Report) by 89.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 37,200 shares of the technology company's stock after selling 310,588 shares during the quarter. Compass Capital Management Inc.'s holdings in Check Point Software Technologies were worth $4,775,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of CHKP. William Blair Investment Management LLC bought a new position in Check Point Software Technologies in the 3rd quarter valued at about $542,000. Allworth Financial LP lifted its position in Check Point Software Technologies by 59.4% during the third quarter. Allworth Financial LP now owns 545 shares of the technology company's stock worth $72,000 after acquiring an additional 203 shares during the last quarter. Fifth Third Bancorp lifted its position in Check Point Software Technologies by 22.9% during the third quarter. Fifth Third Bancorp now owns 563 shares of the technology company's stock worth $72,000 after acquiring an additional 105 shares during the last quarter. Ritholtz Wealth Management boosted its holdings in shares of Check Point Software Technologies by 10.6% during the third quarter. Ritholtz Wealth Management now owns 2,751 shares of the technology company's stock worth $353,000 after acquiring an additional 264 shares during the period. Finally, Jacobi Capital Management LLC bought a new stake in shares of Check Point Software Technologies during the third quarter worth approximately $42,000. Institutional investors and hedge funds own 98.51% of the company's stock.

Wall Street Analyst Weigh In

CHKP has been the topic of several recent research reports. Mizuho increased their price objective on Check Point Software Technologies from $135.00 to $145.00 and gave the stock a "neutral" rating in a research report on Thursday, October 15th. Weiss Ratings raised shares of Check Point Software Technologies from a "hold (c-)" rating to a "hold (c)" rating in a research report on Friday, October 23rd. Bank of America upped their price target on shares of Check Point Software Technologies from $120.00 to $140.00 and gave the company a "neutral" rating in a research note on Monday, July 27th. Barclays upped their price target on shares of Check Point Software Technologies from $140.00 to $155.00 and gave the company an "equal weight" rating in a research note on Tuesday, November 3rd. Finally, Jefferies Financial Group lowered their price target on shares of Check Point Software Technologies from $185.00 to $175.00 and set a "buy" rating on the stock in a research report on Tuesday, November 3rd. Ten investment analysts have rated the stock with a Buy rating and twenty have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $151.32.

Check Point Software Technologies Price Performance

Check Point Software Technologies stock opened at $147.18 on Friday. The stock's fifty day moving average price is $139.74 and its two-hundred day moving average price is $139.87. Check Point Software Technologies Ltd. has a one year low of $112.23 and a one year high of $200.20. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.60 and a quick ratio of 1.60. The firm has a market cap of $15.03 billion, a PE ratio of 16.48, a price-to-earnings-growth ratio of 4.26 and a beta of 0.43.

Check Point Software Technologies (NASDAQ:CHKP - Get Free Report) last released its earnings results on Monday, November 2nd. The technology company reported $2.49 earnings per share for the quarter, beating analysts' consensus estimates of $2.48 by $0.01. The firm had revenue of $669.80 million during the quarter, compared to the consensus estimate of $672.06 million. Check Point Software Technologies had a return on equity of 34.08% and a net margin of 31.74%. The company's revenue was down 1.1% compared to the same quarter last year. During the same period in the prior year, the company posted $3.94 EPS. As a group, research analysts expect that Check Point Software Technologies Ltd. will post 8.37 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Nataly Kremer sold 3,185 shares of the company's stock in a transaction dated Thursday, October 22nd. The shares were sold at an average price of $150.08, for a total transaction of $478,004.80. Following the completion of the sale, the insider owned 19,347 shares of the company's stock, valued at $2,903,597.76. This represents a 14.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 29.00% of the stock is currently owned by company insiders.

Check Point Software Technologies Company Profile

Check Point Software Technologies is a cybersecurity company that develops products and services to protect organizations' networks, cloud environments, devices, and users. Its offerings include network security appliances and software, cloud security tools, endpoint and workspace protection, and centralized security management. The company's product families include Quantum for network security, CloudGuard for cloud security, and Harmony for user and endpoint protection. Check Point also provides threat prevention, security research, and related support services to businesses and other organizations around the world.

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