The Manufacturers Life Insurance Company Sells 2,789 Shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP)

The Manufacturers Life Insurance Company reduced its position in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 6.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 42,759 shares of the technology company’s stock after selling 2,789 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Check Point Software Technologies were worth $8,244,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Bleakley Financial Group LLC raised its holdings in Check Point Software Technologies by 3.3% during the 3rd quarter. Bleakley Financial Group LLC now owns 1,797 shares of the technology company’s stock worth $346,000 after purchasing an additional 57 shares during the last quarter. Brighton Jones LLC increased its stake in shares of Check Point Software Technologies by 5.2% in the 3rd quarter. Brighton Jones LLC now owns 1,337 shares of the technology company’s stock valued at $258,000 after acquiring an additional 66 shares during the last quarter. Patriot Financial Group Insurance Agency LLC increased its stake in shares of Check Point Software Technologies by 1.2% in the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 5,402 shares of the technology company’s stock valued at $1,042,000 after acquiring an additional 66 shares during the last quarter. HF Advisory Group LLC increased its stake in shares of Check Point Software Technologies by 1.2% in the 3rd quarter. HF Advisory Group LLC now owns 6,061 shares of the technology company’s stock valued at $1,169,000 after acquiring an additional 73 shares during the last quarter. Finally, Heritage Family Offices LLP increased its stake in shares of Check Point Software Technologies by 1.6% in the 3rd quarter. Heritage Family Offices LLP now owns 4,884 shares of the technology company’s stock valued at $942,000 after acquiring an additional 77 shares during the last quarter. 87.62% of the stock is owned by institutional investors.

Check Point Software Technologies Stock Up 2.7 %

NASDAQ:CHKP opened at $187.09 on Wednesday. Check Point Software Technologies Ltd. has a twelve month low of $143.28 and a twelve month high of $210.70. The business has a 50 day moving average price of $188.80 and a two-hundred day moving average price of $178.89. The company has a market cap of $20.58 billion, a P/E ratio of 25.56, a price-to-earnings-growth ratio of 3.11 and a beta of 0.63.

Check Point Software Technologies (NASDAQ:CHKP) last released its quarterly earnings data on Tuesday, October 29th. The technology company reported $2.25 EPS for the quarter, meeting the consensus estimate of $2.25. The company had revenue of $635.10 million during the quarter, compared to the consensus estimate of $634.96 million. Check Point Software Technologies had a return on equity of 31.84% and a net margin of 33.17%. The firm’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.80 EPS. As a group, analysts anticipate that Check Point Software Technologies Ltd. will post 7.86 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on CHKP shares. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $187.00 price target on shares of Check Point Software Technologies in a research note on Wednesday, October 30th. Wedbush upped their price target on Check Point Software Technologies from $200.00 to $230.00 and gave the company an “outperform” rating in a research note on Wednesday, October 9th. Jefferies Financial Group upped their price target on Check Point Software Technologies from $210.00 to $225.00 and gave the company a “buy” rating in a research note on Tuesday, September 24th. Truist Financial increased 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, October 23rd. Finally, Evercore ISI increased their target price on Check Point Software Technologies from $180.00 to $185.00 and gave the stock an “in-line” rating in a research note on Wednesday, October 30th. Fifteen analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $197.74.

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.