Hsbc Holdings PLC Has $10.46 Million Position in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Hsbc Holdings PLC decreased its stake in Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 2.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 63,547 shares of the technology company’s stock after selling 1,902 shares during the period. Hsbc Holdings PLC’s holdings in Check Point Software Technologies were worth $10,462,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Principal Financial Group Inc. lifted its stake in shares of Check Point Software Technologies by 69.3% in the 4th quarter. Principal Financial Group Inc. now owns 27,026 shares of the technology company’s stock valued at $4,129,000 after purchasing an additional 11,064 shares during the period. Norges Bank bought a new position in shares of Check Point Software Technologies during the 4th quarter worth approximately $29,801,000. UBS Group AG grew its position in shares of Check Point Software Technologies by 1.9% during the 4th quarter. UBS Group AG now owns 242,701 shares of the technology company’s stock worth $37,082,000 after buying an additional 4,429 shares during the period. D.A. Davidson & CO. increased its stake in shares of Check Point Software Technologies by 5.8% in the 4th quarter. D.A. Davidson & CO. now owns 2,516 shares of the technology company’s stock valued at $384,000 after acquiring an additional 139 shares in the last quarter. Finally, Corient Private Wealth LLC lifted its position in shares of Check Point Software Technologies by 13.4% during the 4th quarter. Corient Private Wealth LLC now owns 28,460 shares of the technology company’s stock valued at $4,348,000 after acquiring an additional 3,364 shares during the period. 87.62% of the stock is currently owned by institutional investors.

Check Point Software Technologies Stock Performance

CHKP opened at $195.47 on Tuesday. The firm has a market cap of $22.07 billion, a P/E ratio of 27.15, a PEG ratio of 2.96 and a beta of 0.62. Check Point Software Technologies Ltd. has a fifty-two week low of $126.57 and a fifty-two week high of $196.56. The firm has a 50-day moving average of $184.95 and a 200 day moving average of $168.13.

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

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on CHKP shares. Barclays lifted their price target on shares of Check Point Software Technologies from $175.00 to $192.00 and gave the company an “equal weight” rating in a research note on Thursday, July 25th. Wedbush upped their price target on Check Point Software Technologies from $185.00 to $200.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Scotiabank raised their price objective on Check Point Software Technologies from $180.00 to $200.00 and gave the company a “sector outperform” rating in a research note on Thursday, July 25th. Robert W. Baird upped their target price on Check Point Software Technologies from $168.00 to $200.00 and gave the stock a “neutral” rating in a research report on Thursday, July 25th. Finally, BMO Capital Markets lifted their price target on shares of Check Point Software Technologies from $180.00 to $200.00 and gave the company a “market perform” rating in a research report on Thursday, July 25th. Sixteen research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $183.68.

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.