Mount Yale Investment Advisors LLC Sells 3,703 Shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Mount Yale Investment Advisors LLC lessened its holdings in Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 41.1% in the second quarter, HoldingsChannel reports. The fund owned 5,311 shares of the technology company’s stock after selling 3,703 shares during the period. Mount Yale Investment Advisors LLC’s holdings in Check Point Software Technologies were worth $876,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of CHKP. Massachusetts Financial Services Co. MA raised its stake in Check Point Software Technologies by 2.1% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 5,527,700 shares of the technology company’s stock worth $912,070,000 after purchasing an additional 114,938 shares in the last quarter. Acadian Asset Management LLC grew its position in shares of Check Point Software Technologies by 10.5% during the 2nd quarter. Acadian Asset Management LLC now owns 4,108,685 shares of the technology company’s stock worth $677,869,000 after purchasing an additional 391,983 shares in the last quarter. Boston Partners increased its holdings in shares of Check Point Software Technologies by 13.1% during the first quarter. Boston Partners now owns 3,623,923 shares of the technology company’s stock worth $594,169,000 after purchasing an additional 419,404 shares during the period. Ninety One UK Ltd raised its position in shares of Check Point Software Technologies by 1.1% in the second quarter. Ninety One UK Ltd now owns 3,608,785 shares of the technology company’s stock valued at $595,450,000 after buying an additional 39,092 shares in the last quarter. Finally, Nordea Investment Management AB boosted its stake in shares of Check Point Software Technologies by 3.0% in the first quarter. Nordea Investment Management AB now owns 2,674,761 shares of the technology company’s stock valued at $440,266,000 after buying an additional 77,849 shares during the period. 87.62% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have commented on CHKP. Scotiabank raised their price objective on Check Point Software Technologies from $180.00 to $200.00 and gave the stock a “sector outperform” rating in a research note on Thursday, July 25th. JPMorgan Chase & Co. raised their price target on Check Point Software Technologies from $175.00 to $180.00 and gave the stock a “neutral” rating in a research report on Thursday, July 25th. Wedbush boosted their price target on Check Point Software Technologies from $185.00 to $200.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Royal Bank of Canada increased their price objective on shares of Check Point Software Technologies from $165.00 to $187.00 and gave the stock a “sector perform” rating in a research note on Thursday, July 25th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of Check Point Software Technologies from $175.00 to $185.00 and gave the company a “hold” rating in a report on Thursday, July 25th. Sixteen analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, Check Point Software Technologies currently has an average rating of “Hold” and a consensus price target of $183.68.

Check Point Software Technologies Trading Up 1.6 %

Check Point Software Technologies stock opened at $194.09 on Monday. The stock has a 50-day moving average price of $184.48 and a two-hundred day moving average price of $167.87. Check Point Software Technologies Ltd. has a 12 month low of $126.57 and a 12 month high of $195.29. The company has a market capitalization of $21.91 billion, a PE ratio of 26.96, a P/E/G ratio of 2.96 and a beta of 0.62.

Check Point Software Technologies (NASDAQ:CHKP) last issued its quarterly earnings data on Wednesday, July 24th. The technology company reported $2.17 earnings per share for the quarter, topping the consensus estimate of $2.16 by $0.01. The company had revenue of $627.40 million for the quarter, compared to analysts’ expectations of $623.19 million. Check Point Software Technologies had a net margin of 33.61% and a return on equity of 31.59%. Check Point Software Technologies’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.74 earnings per share. As a group, analysts predict that Check Point Software Technologies Ltd. will post 7.83 earnings per share for the current fiscal year.

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.