Check Point Software Technologies (NASDAQ:CHKP) Cut to “Hold” at StockNews.com

Check Point Software Technologies (NASDAQ:CHKP) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Thursday.

Several other equities research analysts have also issued reports on CHKP. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $200.00 target price on shares of Check Point Software Technologies in a research report on Monday, January 27th. Guggenheim restated a “neutral” rating on shares of Check Point Software Technologies in a report on Friday, January 31st. Citigroup boosted their target price on shares of Check Point Software Technologies from $185.00 to $190.00 and gave the company a “neutral” rating in a research note on Friday, January 17th. Arete Research upgraded shares of Check Point Software Technologies to a “hold” rating in a research note on Monday, February 24th. Finally, UBS Group lifted their price target on shares of Check Point Software Technologies from $200.00 to $230.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. Eighteen analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $227.26.

Check Point Software Technologies Trading Up 4.6 %

Shares of CHKP opened at $224.84 on Thursday. The stock has a 50 day moving average of $208.38 and a 200 day moving average of $195.74. The company has a market capitalization of $24.73 billion, a price-to-earnings ratio of 30.10, a PEG ratio of 3.41 and a beta of 0.62. Check Point Software Technologies has a 12 month low of $145.75 and a 12 month high of $230.65.

Institutional Investors Weigh In On Check Point Software Technologies

Several large investors have recently added to or reduced their stakes in the business. Lansforsakringar Fondforvaltning AB publ purchased a new stake in shares of Check Point Software Technologies in the 4th quarter valued at about $3,756,000. Centaurus Financial Inc. increased its position in shares of Check Point Software Technologies by 48.5% in the fourth quarter. Centaurus Financial Inc. now owns 3,777 shares of the technology company’s stock worth $705,000 after purchasing an additional 1,234 shares during the last quarter. Capstone Triton Financial Group LLC raised its stake in Check Point Software Technologies by 1.3% in the fourth quarter. Capstone Triton Financial Group LLC now owns 10,863 shares of the technology company’s stock valued at $2,028,000 after purchasing an additional 138 shares in the last quarter. Siemens Fonds Invest GmbH bought a new stake in Check Point Software Technologies during the fourth quarter valued at approximately $1,373,000. Finally, Menard Financial Group LLC purchased a new position in Check Point Software Technologies in the 4th quarter worth approximately $41,000. 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.