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

Bank of New York Mellon Corp cut its stake in Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 3.8% in 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 owned about 0.56% of Check Point Software Technologies worth $127,073,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of CHKP. Legacy Investment Solutions LLC purchased a new stake in shares of Check Point Software Technologies during the second quarter worth approximately $25,000. Louisbourg Investments Inc. acquired a new position in Check Point Software Technologies during the 3rd quarter worth approximately $29,000. First Horizon Corp purchased a new stake in shares of Check Point Software Technologies in the 3rd quarter valued at approximately $38,000. Heartwood Wealth Advisors LLC acquired a new stake in shares of Check Point Software Technologies in the 3rd quarter valued at $42,000. Finally, Richardson Financial Services Inc. lifted its position in shares of Check Point Software Technologies by 63.2% during the 3rd quarter. Richardson Financial Services Inc. now owns 204 shares of the technology company’s stock worth $42,000 after purchasing an additional 79 shares during the last quarter. Hedge funds and other institutional investors own 98.51% of the company’s stock.

Check Point Software Technologies Trading Up 0.7%

CHKP stock opened at $179.51 on Friday. The company has a market capitalization of $19.74 billion, a P/E ratio of 19.66, a PEG ratio of 2.86 and a beta of 0.59. The business has a 50 day simple moving average of $187.10 and a 200-day simple moving average of $193.50. Check Point Software Technologies Ltd. has a twelve month low of $173.56 and a twelve month high of $234.35.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. KeyCorp upgraded Check Point Software Technologies to a “hold” rating in a research note on Monday, January 12th. Truist Financial set a $225.00 target price on Check Point Software Technologies in a research report on Tuesday, January 20th. UBS Group boosted their target price on Check Point Software Technologies from $210.00 to $215.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 29th. Roth Mkm reiterated a “neutral” rating on shares of Check Point Software Technologies in a research note on Monday, October 27th. Finally, Royal Bank Of Canada cut their price objective on shares of Check Point Software Technologies from $215.00 to $195.00 and set a “sector perform” rating on the stock in a report on Monday, January 5th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and twelve have given a Hold rating to the company. According to MarketBeat, Check Point Software Technologies has a consensus rating of “Moderate Buy” and an average price target of $226.62.

Check Point Software Technologies Profile

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).