Needham & Company LLC Reiterates Hold Rating for Check Point Software Technologies (NASDAQ:CHKP)

Check Point Software Technologies (NASDAQ:CHKP)‘s stock had its “hold” rating reiterated by equities research analysts at Needham & Company LLC in a research note issued to investors on Thursday,Benzinga reports.

Other analysts have also recently issued reports about the company. Barclays upped their price target on Check Point Software Technologies from $200.00 to $230.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 30th. Evercore ISI upped their price target on shares of Check Point Software Technologies from $180.00 to $185.00 and gave the stock an “in-line” rating in a report on Wednesday, October 30th. Royal Bank of Canada reissued a “sector perform” rating and issued a $215.00 price target on shares of Check Point Software Technologies in a research report on Thursday. StockNews.com downgraded Check Point Software Technologies from a “buy” rating to a “hold” rating in a research report on Tuesday. Finally, Citigroup boosted their target price on shares of Check Point Software Technologies from $185.00 to $190.00 and gave the stock a “neutral” rating in a report on Friday, January 17th. Eighteen analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, Check Point Software Technologies currently has a consensus rating of “Hold” and an average target price of $221.91.

Check Point Software Technologies Stock Performance

Shares of NASDAQ CHKP traded down $0.97 during mid-day trading on Thursday, hitting $219.96. 410,483 shares of the stock traded hands, compared to its average volume of 892,332. The stock has a fifty day moving average price of $200.15 and a 200-day moving average price of $192.87. The company has a market cap of $24.19 billion, a price-to-earnings ratio of 29.42, a PEG ratio of 3.41 and a beta of 0.65. Check Point Software Technologies has a 52 week low of $145.75 and a 52 week high of $226.02.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in CHKP. Norges Bank purchased a new position in shares of Check Point Software Technologies in the 4th quarter valued at about $428,820,000. Clearbridge Investments LLC acquired a new stake in shares of Check Point Software Technologies during the fourth quarter worth about $100,456,000. Causeway Capital Management LLC boosted its stake in shares of Check Point Software Technologies by 33.8% in the fourth quarter. Causeway Capital Management LLC now owns 1,929,604 shares of the technology company’s stock valued at $360,257,000 after buying an additional 487,823 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Check Point Software Technologies by 73.8% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,094,887 shares of the technology company’s stock valued at $211,105,000 after purchasing an additional 464,821 shares in the last quarter. Finally, Altshuler Shaham Ltd acquired a new stake in shares of Check Point Software Technologies in the fourth quarter valued at about $73,186,000. Hedge funds and other institutional investors own 98.51% of the company’s stock.

Check Point Software Technologies Company 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.