Check Point Software Technologies Ltd. (CHKP) Price Target Lowered to $121.00 at J P Morgan Chase & Co

Check Point Software Technologies Ltd. (NASDAQ:CHKP) had its price target lowered by J P Morgan Chase & Co from $123.00 to $121.00 in a research note issued to investors on Wednesday. J P Morgan Chase & Co currently has a neutral rating on the technology company’s stock.

Other equities research analysts have also recently issued research reports about the stock. Royal Bank Of Canada reduced their price target on shares of Check Point Software Technologies from $120.00 to $115.00 and set a sector perform rating on the stock in a research report on Wednesday. Stephens cut shares of Check Point Software Technologies from an overweight rating to an equal weight rating and set a $110.00 price objective on the stock. in a research report on Wednesday. Cowen and Company cut shares of Check Point Software Technologies from an outperform rating to a market perform rating and set a $112.00 price objective on the stock. in a research report on Wednesday. Credit Suisse Group reiterated a neutral rating and set a $105.00 price objective (down previously from $110.00) on shares of Check Point Software Technologies in a research report on Wednesday. Finally, Northland Securities set a $120.00 price objective on shares of Check Point Software Technologies and gave the company a hold rating in a research report on Wednesday. Twenty analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The company currently has an average rating of Hold and an average target price of $113.60.

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Hedge funds and other institutional investors have recently modified their holdings of the company. AXA grew its stake in shares of Check Point Software Technologies by 20.6% during the 2nd quarter. AXA now owns 187,805 shares of the technology company’s stock worth $20,486,000 after purchasing an additional 32,118 shares during the period. Oppenheimer Asset Management Inc. grew its stake in shares of Check Point Software Technologies by 7.1% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 89,147 shares of the technology company’s stock worth $9,725,000 after purchasing an additional 5,914 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Check Point Software Technologies by 693.4% during the 2nd quarter. JPMorgan Chase & Co. now owns 467,485 shares of the technology company’s stock worth $50,993,000 after purchasing an additional 408,560 shares during the period. Martin Investment Management LLC grew its stake in shares of Check Point Software Technologies by 17.0% during the 2nd quarter. Martin Investment Management LLC now owns 118,581 shares of the technology company’s stock worth $12,935,000 after purchasing an additional 17,204 shares during the period. Finally, Pictet & Cie Europe SA grew its stake in shares of Check Point Software Technologies by 6.2% during the 2nd quarter. Pictet & Cie Europe SA now owns 17,163 shares of the technology company’s stock worth $1,872,000 after purchasing an additional 1,000 shares during the period. 68.07% of the stock is currently owned by institutional investors and hedge funds.

Check Point Software Technologies Company Profile

Check Point Software Technologies Ltd. (Check point) develops, markets and supports a range of products and services for information technology (IT) security. The Company’s products and services are sold to enterprises, service providers, small and medium sized businesses and consumers. It offers enterprises a platform to deploy independent, modular and interoperable security applications (Software Blades), such as firewall, virtual private network (VPN), intrusion prevention system (IPS), Application Control, Anti-Bot, antivirus, data loss prevention (DLP), policy management, event analysis or multi-domain management.

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