Nisa Investment Advisors LLC Cuts Stock Holdings in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Nisa Investment Advisors LLC lowered its position in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 5.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,973 shares of the technology company’s stock after selling 686 shares during the period. Nisa Investment Advisors LLC’s holdings in Check Point Software Technologies were worth $2,309,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of CHKP. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Check Point Software Technologies during the second quarter worth $30,000. Kathleen S. Wright Associates Inc. acquired a new position in shares of Check Point Software Technologies during the third quarter worth $33,000. Concord Wealth Partners acquired a new position in shares of Check Point Software Technologies during the third quarter worth $37,000. FSC Wealth Advisors LLC acquired a new position in shares of Check Point Software Technologies during the third quarter worth $60,000. Finally, Sound Income Strategies LLC boosted its stake in Check Point Software Technologies by 654.4% in the third quarter. Sound Income Strategies LLC now owns 430 shares of the technology company’s stock valued at $83,000 after acquiring an additional 373 shares in the last quarter. Institutional investors and hedge funds own 87.62% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on CHKP. Wedbush upped their price objective on shares of 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. Susquehanna upped their price objective on shares of Check Point Software Technologies from $200.00 to $215.00 and gave the company a “positive” rating in a research note on Thursday, July 25th. Needham & Company LLC restated a “hold” rating on shares of Check Point Software Technologies in a research note on Wednesday. BMO Capital Markets upped their price objective on shares of Check Point Software Technologies from $200.00 to $238.00 and gave the company a “market perform” rating in a research note on Friday, October 25th. Finally, Bank of America downgraded shares of Check Point Software Technologies from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $205.00 to $195.00 in a research note on Wednesday. Fifteen equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $197.74.

Check Point Software Technologies Stock Down 1.6 %

NASDAQ CHKP opened at $170.50 on Friday. The stock has a market capitalization of $18.75 billion, a P/E ratio of 23.29, a P/E/G ratio of 2.71 and a beta of 0.63. Check Point Software Technologies Ltd. has a 52-week low of $134.72 and a 52-week high of $210.70. The firm has a 50-day moving average price of $194.47 and a 200 day moving average price of $174.87.

Check Point Software Technologies (NASDAQ:CHKP) last posted its quarterly earnings results on Tuesday, October 29th. The technology company reported $2.25 earnings per share (EPS) for the quarter, hitting the consensus estimate of $2.25. The firm had revenue of $635.10 million during the quarter, compared to analysts’ expectations of $634.96 million. Check Point Software Technologies had a net margin of 33.17% and a return on equity of 31.84%. The firm’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same period in the prior year, the company posted $1.80 earnings per share. On average, equities research analysts expect that Check Point Software Technologies Ltd. will post 7.84 earnings per share for the current fiscal year.

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.