Bank of New York Mellon Corp Lowers Stock Holdings in Check Point Software Technologies Ltd. $CHKP

Bank of New York Mellon Corp lowered its stake in Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 3.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 614,147 shares of the technology company’s stock after selling 24,578 shares during the period. Bank of New York Mellon Corp’s holdings in Check Point Software Technologies were worth $127,073,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of CHKP. Massachusetts Financial Services Co. MA raised its position in Check Point Software Technologies by 27.1% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 6,170,455 shares of the technology company’s stock worth $1,276,729,000 after buying an additional 1,317,167 shares during the last quarter. Norges Bank acquired a new position in shares of Check Point Software Technologies during the second quarter worth about $714,801,000. Ninety One UK Ltd increased its stake in shares of Check Point Software Technologies by 0.3% during the third quarter. Ninety One UK Ltd now owns 2,601,592 shares of the technology company’s stock worth $538,295,000 after acquiring an additional 8,814 shares during the period. Ameriprise Financial Inc. raised its holdings in Check Point Software Technologies by 9.3% during the second quarter. Ameriprise Financial Inc. now owns 2,001,247 shares of the technology company’s stock worth $442,733,000 after purchasing an additional 170,373 shares in the last quarter. Finally, First Trust Advisors LP lifted its position in Check Point Software Technologies by 9.6% in the second quarter. First Trust Advisors LP now owns 1,899,862 shares of the technology company’s stock valued at $420,344,000 after purchasing an additional 166,092 shares during the period. 98.51% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CHKP has been the topic of several recent analyst reports. Scotiabank reiterated a “sector perform” rating and set a $195.00 target price on shares of Check Point Software Technologies in a research report on Wednesday, January 21st. Roth Mkm reaffirmed a “neutral” rating on shares of Check Point Software Technologies in a report on Monday, October 27th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $220.00 price objective on shares of Check Point Software Technologies in a research report on Wednesday, October 22nd. Mizuho set a $225.00 target price on shares of Check Point Software Technologies in a research report on Wednesday, October 29th. Finally, Weiss Ratings raised shares of Check Point Software Technologies from a “hold (c)” rating to a “buy (b-)” rating in a research note on Thursday, October 30th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and twelve have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $226.62.

Check Point Software Technologies Stock Up 0.7%

Shares of CHKP stock opened at $179.51 on Friday. The stock has a market cap of $19.74 billion, a P/E ratio of 19.66, a P/E/G ratio of 2.86 and a beta of 0.59. Check Point Software Technologies Ltd. has a fifty-two week low of $173.56 and a fifty-two week high of $234.35. The business has a fifty day simple moving average of $187.10 and a 200-day simple moving average of $193.50.

About Check Point Software Technologies

Check Point Software Technologies Ltd. is an Israeli-founded cybersecurity company that develops, markets and supports a broad portfolio of network, cloud and endpoint security products. Founded in 1993, the company was an early pioneer of stateful inspection firewall technology and later developed a modular “software blade” approach that allowed customers to combine protection capabilities. Check Point’s product set spans physical and virtual security appliances, software and cloud-native services designed to prevent cyberattacks, protect data and simplify security management for enterprises and service providers.

Key product families include Quantum Security Gateways (on-premises and hybrid appliances), CloudGuard (cloud security posture and workload protection), Harmony (endpoint, remote access and unified endpoint security), and SandBlast (advanced threat prevention and sandboxing).