Investors Buy Check Point Software Technologies Ltd. (CHKP) on Weakness

Investors purchased shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP) on weakness during trading on Tuesday. $74.23 million flowed into the stock on the tick-up and $44.02 million flowed out of the stock on the tick-down, for a money net flow of $30.21 million into the stock. Of all stocks tracked, Check Point Software Technologies had the 26th highest net in-flow for the day. Check Point Software Technologies traded down ($0.40) for the day and closed at $102.40

Several equities analysts recently issued reports on the stock. Northland Securities reissued a “hold” rating and set a $120.00 price objective on shares of Check Point Software Technologies in a report on Thursday, September 28th. Oppenheimer Holdings, Inc. reissued a “buy” rating and set a $128.00 price objective on shares of Check Point Software Technologies in a report on Wednesday, November 1st. Cowen and Company lowered 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 report on Wednesday, November 1st. Stephens lowered 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 report on Wednesday, November 1st. Finally, Robert W. Baird reissued a “hold” rating and set a $115.00 price objective on shares of Check Point Software Technologies in a report on Wednesday, November 1st. Twenty analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $113.60.

The company has a market cap of $16,801.93, a price-to-earnings ratio of 21.64, a PEG ratio of 2.21 and a beta of 0.67.

Institutional investors have recently modified their holdings of the stock. AXA raised its holdings in shares of Check Point Software Technologies by 20.6% during the second 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 last quarter. Oppenheimer Asset Management Inc. raised its holdings in shares of Check Point Software Technologies by 7.1% during the second 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 last quarter. JPMorgan Chase & Co. raised its holdings in shares of Check Point Software Technologies by 693.4% during the second 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 last quarter. Martin Investment Management LLC raised its holdings in shares of Check Point Software Technologies by 17.0% during the second 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 last quarter. Finally, Pictet & Cie Europe SA raised its holdings in shares of Check Point Software Technologies by 6.2% during the second 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 last quarter. 68.53% of the stock is owned by hedge funds and other institutional investors.

COPYRIGHT VIOLATION WARNING: This story was first reported by Stock Observer and is the property of of Stock Observer. If you are viewing this story on another publication, it was stolen and reposted in violation of US & international copyright and trademark legislation. The legal version of this story can be read at https://www.thestockobserver.com/2017/11/15/investors-buy-check-point-software-technologies-ltd-chkp-on-weakness.html.

About Check Point Software Technologies

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.

Receive News & Ratings for Check Point Software Technologies Ltd. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Check Point Software Technologies Ltd. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply