Check Point Software Technologies Ltd. (CHKP) Downgraded by Stephens

Stephens cut shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP) from an overweight rating to an equal weight rating in a report released on Wednesday morning, MarketBeat reports. The brokerage currently has $110.00 price target on the technology company’s stock.

A number of other analysts have also commented on the company. Cowen and Company lowered Check Point Software Technologies from an outperform rating to a market perform rating and set a $112.00 price target on the stock. in a report on Wednesday. Northland Securities set a $120.00 price target on Check Point Software Technologies and gave the company a hold rating in a report on Wednesday. BTIG Research lowered Check Point Software Technologies from a buy rating to a neutral rating in a report on Wednesday. KeyCorp restated a hold rating on shares of Check Point Software Technologies in a report on Friday, October 27th. Finally, Jefferies Group LLC reiterated a buy rating and set a $126.00 target price on shares of Check Point Software Technologies in a report on Thursday, October 19th. Twenty analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus price target of $113.60.

Check Point Software Technologies (NASDAQ CHKP) traded up $2.64 during midday trading on Wednesday, hitting $105.65. 1,926,874 shares of the stock were exchanged, compared to its average volume of 1,462,889. The firm has a market cap of $17.54 billion, a P/E ratio of 22.45, a P/E/G ratio of 2.29 and a beta of 0.67. Check Point Software Technologies has a one year low of $80.78 and a one year high of $119.20.

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Several institutional investors have recently bought and sold shares of the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its position in shares of Check Point Software Technologies by 1.4% in the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,425 shares of the technology company’s stock valued at $151,000 after purchasing an additional 20 shares during the last quarter. Gateway Investment Advisers LLC grew its position in shares of Check Point Software Technologies by 1.3% in the second quarter. Gateway Investment Advisers LLC now owns 2,407 shares of the technology company’s stock valued at $263,000 after purchasing an additional 31 shares during the last quarter. Baldwin Investment Management LLC grew its position in shares of Check Point Software Technologies by 0.7% in the second quarter. Baldwin Investment Management LLC now owns 4,665 shares of the technology company’s stock valued at $509,000 after purchasing an additional 34 shares during the last quarter. Trust Co. of Vermont grew its position in shares of Check Point Software Technologies by 2.2% in the second quarter. Trust Co. of Vermont now owns 1,814 shares of the technology company’s stock valued at $198,000 after purchasing an additional 39 shares during the last quarter. Finally, Wetherby Asset Management Inc. grew its position in shares of Check Point Software Technologies by 0.8% in the second quarter. Wetherby Asset Management Inc. now owns 5,314 shares of the technology company’s stock valued at $580,000 after purchasing an additional 41 shares during the last quarter. 68.07% of the stock is currently owned by institutional investors.

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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