Harvey Partners LLC Has $16.82 Million Stock Position in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Harvey Partners LLC cut its holdings in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 9.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 87,250 shares of the technology company’s stock after selling 8,750 shares during the period. Check Point Software Technologies comprises approximately 1.9% of Harvey Partners LLC’s investment portfolio, making the stock its 25th biggest position. Harvey Partners LLC owned 0.08% of Check Point Software Technologies worth $16,823,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Bleakley Financial Group LLC increased its position in Check Point Software Technologies by 3.3% in the third quarter. Bleakley Financial Group LLC now owns 1,797 shares of the technology company’s stock worth $346,000 after buying an additional 57 shares during the last quarter. Brighton Jones LLC raised its holdings in shares of Check Point Software Technologies by 5.2% during the third quarter. Brighton Jones LLC now owns 1,337 shares of the technology company’s stock valued at $258,000 after purchasing an additional 66 shares during the last quarter. Patriot Financial Group Insurance Agency LLC raised its stake in Check Point Software Technologies by 1.2% during the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 5,402 shares of the technology company’s stock worth $1,042,000 after acquiring an additional 66 shares during the period. HF Advisory Group LLC increased its stake in Check Point Software Technologies by 1.2% in the 3rd quarter. HF Advisory Group LLC now owns 6,061 shares of the technology company’s stock worth $1,169,000 after acquiring an additional 73 shares during the last quarter. Finally, Heritage Family Offices LLP grew its stake in shares of Check Point Software Technologies by 1.6% during the third quarter. Heritage Family Offices LLP now owns 4,884 shares of the technology company’s stock valued at $942,000 after buying an additional 77 shares during the last quarter. 87.62% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CHKP has been the subject of several analyst reports. Barclays decreased their price objective on Check Point Software Technologies from $210.00 to $200.00 and set an “equal weight” rating for the company in a report on Tuesday, October 29th. Jefferies Financial Group upped their target price on shares of Check Point Software Technologies from $210.00 to $225.00 and gave the company a “buy” rating in a report on Tuesday, September 24th. Truist Financial boosted their price objective on shares of Check Point Software Technologies from $200.00 to $220.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Mizuho raised their price target on Check Point Software Technologies from $178.00 to $205.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Finally, Evercore ISI boosted their price target on shares of Check Point Software Technologies from $180.00 to $185.00 and gave the company an “in-line” rating in a report on Wednesday, October 30th. Fifteen analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, Check Point Software Technologies presently has an average rating of “Hold” and a consensus target price of $197.74.

Check Point Software Technologies Stock Performance

Shares of Check Point Software Technologies stock opened at $182.18 on Tuesday. The stock’s 50-day simple moving average is $188.97 and its 200 day simple moving average is $178.64. Check Point Software Technologies Ltd. has a 52-week low of $143.28 and a 52-week high of $210.70. The stock has a market capitalization of $20.04 billion, a P/E ratio of 24.89, a P/E/G ratio of 3.11 and a beta of 0.63.

Check Point Software Technologies (NASDAQ:CHKP) last announced its earnings results on Tuesday, October 29th. The technology company reported $2.25 EPS for the quarter, meeting analysts’ consensus estimates of $2.25. The business had revenue of $635.10 million during the quarter, compared to analysts’ expectations of $634.96 million. Check Point Software Technologies had a net margin of 33.17% and a return on equity of 31.84%. The firm’s revenue was up 6.5% on a year-over-year basis. During the same period in the prior year, the company earned $1.80 earnings per share. Equities research analysts forecast that Check Point Software Technologies Ltd. will post 7.86 EPS for the current fiscal year.

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.