Check Point Software Technologies Ltd. (NASDAQ:CHKP) Short Interest Down 6.8% in December

Check Point Software Technologies Ltd. (NASDAQ:CHKP) was the target of a significant drop in short interest in the month of December. As of December 15th, there was short interest totalling 3,020,000 shares, a drop of 6.8% from the November 30th total of 3,240,000 shares. Based on an average trading volume of 704,800 shares, the short-interest ratio is currently 4.3 days. Approximately 3.6% of the company’s stock are sold short.

Analysts Set New Price Targets

CHKP has been the subject of a number of research analyst reports. Robert W. Baird reduced their target price on shares of Check Point Software Technologies from $210.00 to $205.00 and set a “neutral” rating for the company in a research note on Wednesday, October 30th. BMO Capital Markets increased their price objective on Check Point Software Technologies from $200.00 to $238.00 and gave the stock a “market perform” rating in a report on Friday, October 25th. Mizuho lifted their target price on Check Point Software Technologies from $178.00 to $205.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. JPMorgan Chase & Co. upped their price target on Check Point Software Technologies from $180.00 to $210.00 and gave the stock a “neutral” rating in a research report on Monday, October 28th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Check Point Software Technologies in a report on Wednesday, October 30th. Fifteen analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $199.05.

Check Point Software Technologies Stock Down 0.3 %

Check Point Software Technologies stock opened at $187.26 on Tuesday. Check Point Software Technologies has a twelve month low of $145.75 and a twelve month high of $210.70. The stock has a market cap of $20.60 billion, a P/E ratio of 25.58, a P/E/G ratio of 3.21 and a beta of 0.63. The company’s 50-day moving average price is $184.46 and its two-hundred day moving average price is $183.56.

Check Point Software Technologies (NASDAQ:CHKP) last released its quarterly earnings results on Tuesday, October 29th. The technology company reported $2.25 earnings per share for the quarter, hitting the consensus estimate of $2.25. The business had revenue of $635.10 million during the quarter, compared to analysts’ expectations 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 period last year, the firm posted $1.80 EPS. Equities analysts anticipate that Check Point Software Technologies will post 7.87 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Check Point Software Technologies

Several institutional investors and hedge funds have recently modified their holdings of CHKP. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Check Point Software Technologies by 73.8% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,094,887 shares of the technology company’s stock valued at $211,105,000 after acquiring an additional 464,821 shares in the last quarter. Acadian Asset Management LLC raised its stake in Check Point Software Technologies by 10.5% in the second quarter. Acadian Asset Management LLC now owns 4,108,685 shares of the technology company’s stock valued at $677,869,000 after purchasing an additional 391,983 shares in the last quarter. Marshall Wace LLP bought a new stake in Check Point Software Technologies during the second quarter worth about $47,244,000. World Investment Advisors LLC bought a new position in Check Point Software Technologies in the 3rd quarter valued at about $51,922,000. Finally, FMR LLC raised its position in shares of Check Point Software Technologies by 28.7% in the 3rd quarter. FMR LLC now owns 1,133,175 shares of the technology company’s stock valued at $218,488,000 after buying an additional 252,581 shares in the last quarter. 98.51% of the stock is currently owned by institutional investors and hedge funds.

Check Point Software Technologies Company 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.