Penserra Capital Management LLC Sells 62,742 Shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Penserra Capital Management LLC lowered its position in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 15.1% in the 3rd quarter, Holdings Channel.com reports. The fund owned 351,919 shares of the technology company’s stock after selling 62,742 shares during the quarter. Check Point Software Technologies comprises approximately 1.5% of Penserra Capital Management LLC’s investment portfolio, making the stock its 12th largest position. Penserra Capital Management LLC’s holdings in Check Point Software Technologies were worth $67,851,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Kathleen S. Wright Associates Inc. purchased a new position in Check Point Software Technologies in the 3rd quarter worth about $33,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Check Point Software Technologies during the second quarter valued at approximately $30,000. Concord Wealth Partners bought a new position in Check Point Software Technologies during the third quarter valued at approximately $37,000. Arrow Financial Corp boosted its holdings in Check Point Software Technologies by 62.5% in the third quarter. Arrow Financial Corp now owns 260 shares of the technology company’s stock worth $50,000 after purchasing an additional 100 shares during the last quarter. Finally, FSC Wealth Advisors LLC bought a new stake in Check Point Software Technologies in the 3rd quarter worth approximately $60,000. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Wedbush increased their price target on Check Point Software Technologies from $200.00 to $230.00 and gave the company an “outperform” rating in a report on Wednesday, October 9th. 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 research report on Wednesday, October 30th. Mizuho upped their price target on shares of Check Point Software Technologies from $178.00 to $205.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. BMO Capital Markets increased their price objective on shares of Check Point Software Technologies from $200.00 to $238.00 and gave the stock a “market perform” rating in a research note on Friday, October 25th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $187.00 target price on shares of Check Point Software Technologies in a research report on Wednesday, October 30th. Fifteen investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $197.74.

Check Point Software Technologies Stock Down 0.1 %

Shares of Check Point Software Technologies stock opened at $181.75 on Friday. The company has a market capitalization of $19.99 billion, a price-to-earnings ratio of 24.83, a PEG ratio of 3.10 and a beta of 0.63. The stock’s 50-day simple moving average is $190.21 and its 200-day simple moving average is $177.15. Check Point Software Technologies Ltd. has a 52 week low of $143.28 and a 52 week high of $210.70.

Check Point Software Technologies (NASDAQ:CHKP) last posted its quarterly earnings results on Tuesday, October 29th. The technology company reported $2.25 EPS for the quarter, hitting analysts’ consensus estimates of $2.25. Check Point Software Technologies had a return on equity of 31.84% and a net margin of 33.17%. The company had revenue of $635.10 million for the quarter, compared to analysts’ expectations of $634.96 million. During the same period in the previous year, the firm earned $1.80 EPS. The firm’s revenue was up 6.5% compared to the same quarter last year. On average, equities analysts expect that Check Point Software Technologies Ltd. will post 7.87 earnings per share for the current year.

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.