Diamond Hill Capital Management Inc. Sells 122 Shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Diamond Hill Capital Management Inc. lowered its position in Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 0.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 50,526 shares of the technology company’s stock after selling 122 shares during the quarter. Diamond Hill Capital Management Inc.’s holdings in Check Point Software Technologies were worth $9,742,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Kathleen S. Wright Associates Inc. bought a new stake in shares of Check Point Software Technologies in the 3rd quarter worth approximately $33,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Check Point Software Technologies in the 2nd quarter worth approximately $30,000. Concord Wealth Partners acquired a new position in shares of Check Point Software Technologies in the 3rd quarter worth approximately $37,000. Arrow Financial Corp raised its holdings in shares of Check Point Software Technologies by 62.5% in the 3rd quarter. Arrow Financial Corp now owns 260 shares of the technology company’s stock worth $50,000 after buying an additional 100 shares in the last quarter. Finally, FSC Wealth Advisors LLC acquired a new position in shares of Check Point Software Technologies in the 3rd quarter worth approximately $60,000. Institutional investors own 87.62% of the company’s stock.

Check Point Software Technologies Stock Performance

Shares of CHKP opened at $178.26 on Tuesday. The firm has a market capitalization of $19.61 billion, a price-to-earnings ratio of 24.35, a PEG ratio of 3.00 and a beta of 0.63. The business’s fifty day moving average price is $192.81 and its two-hundred day moving average price is $175.49. Check Point Software Technologies Ltd. has a 52 week low of $139.55 and a 52 week high of $210.70.

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, hitting the consensus estimate of $2.25. The firm had revenue of $635.10 million for the quarter, compared to analyst estimates of $634.96 million. Check Point Software Technologies had a return on equity of 31.84% and a net margin of 33.17%. The company’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same period in the previous year, the company posted $1.80 earnings per share. As a group, research analysts forecast that Check Point Software Technologies Ltd. will post 7.87 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on CHKP shares. Needham & Company LLC reissued a “hold” rating on shares of Check Point Software Technologies in a report on Wednesday, October 30th. Bank of America cut 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. Truist Financial increased their target price on Check Point Software Technologies from $200.00 to $220.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft increased their target price on Check Point Software Technologies from $175.00 to $185.00 and gave the stock a “hold” rating in a report on Thursday, July 25th. Finally, Scotiabank increased their target price on Check Point Software Technologies from $180.00 to $200.00 and gave the stock a “sector outperform” rating in a report on Thursday, July 25th. Fifteen equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $197.74.

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.