Brown Brothers Harriman & Co. Trims Stock Position in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Brown Brothers Harriman & Co. trimmed its stake in Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 39.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 360 shares of the technology company’s stock after selling 238 shares during the period. Brown Brothers Harriman & Co.’s holdings in Check Point Software Technologies were worth $69,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of CHKP. Loomis Sayles & Co. L P raised its position in shares of Check Point Software Technologies by 2.2% in the 3rd quarter. Loomis Sayles & Co. L P now owns 61,734 shares of the technology company’s stock worth $11,903,000 after acquiring an additional 1,313 shares in the last quarter. Independent Advisor Alliance bought a new position in Check Point Software Technologies in the third quarter worth $203,000. Fisher Asset Management LLC lifted its position in Check Point Software Technologies by 143.0% during the third quarter. Fisher Asset Management LLC now owns 3,329 shares of the technology company’s stock valued at $642,000 after buying an additional 1,959 shares during the period. Daiwa Securities Group Inc. lifted its position in Check Point Software Technologies by 4.3% during the third quarter. Daiwa Securities Group Inc. now owns 8,855 shares of the technology company’s stock valued at $1,707,000 after buying an additional 367 shares during the period. Finally, Centaurus Financial Inc. grew its position in shares of Check Point Software Technologies by 36.4% in the 3rd quarter. Centaurus Financial Inc. now owns 2,543 shares of the technology company’s stock worth $490,000 after buying an additional 678 shares during the period. Institutional investors own 87.62% of the company’s stock.

Check Point Software Technologies Price Performance

NASDAQ CHKP opened at $181.55 on Friday. The stock has a market capitalization of $19.97 billion, a price-to-earnings ratio of 24.80, a PEG ratio of 3.12 and a beta of 0.63. Check Point Software Technologies Ltd. has a 1-year low of $143.28 and a 1-year high of $210.70. The business’s fifty day moving average price is $189.48 and its 200-day moving average price is $177.79.

Check Point Software Technologies (NASDAQ:CHKP) last posted its earnings results on Tuesday, October 29th. The technology company reported $2.25 earnings per share for the quarter, meeting analysts’ consensus estimates of $2.25. The company had revenue of $635.10 million for the quarter, compared to the consensus estimate of $634.96 million. Check Point Software Technologies had a return on equity of 31.84% and a net margin of 33.17%. Check Point Software Technologies’s revenue was up 6.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.80 earnings per share. Equities research analysts anticipate that Check Point Software Technologies Ltd. will post 7.87 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on CHKP shares. Needham & Company LLC reissued a “hold” rating on shares of Check Point Software Technologies in a research report on Wednesday, October 30th. Barclays lowered their target price on shares of Check Point Software Technologies from $210.00 to $200.00 and set an “equal weight” rating for the company in a report on Tuesday, October 29th. Royal Bank of Canada reissued a “sector perform” rating and issued a $187.00 price target on shares of Check Point Software Technologies in a research report on Wednesday, October 30th. BMO Capital Markets lifted their price objective on 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 Check Point Software Technologies from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $205.00 to $195.00 in a report on Wednesday, October 30th. Fifteen equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $197.74.

Check Point Software Technologies 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.