J P Morgan Chase & Co Lowers Check Point Software Technologies (CHKP) to Neutral

Check Point Software Technologies (NASDAQ:CHKP) was downgraded by equities research analysts at J P Morgan Chase & Co from an “overweight” rating to a “neutral” rating in a report issued on Tuesday, MarketBeat.com reports. They currently have a $121.00 price target on the technology company’s stock. J P Morgan Chase & Co’s target price indicates a potential upside of 12.85% from the stock’s current price.

Other research analysts also recently issued reports about the company. BidaskClub upgraded Check Point Software Technologies from a “hold” rating to a “buy” rating in a research note on Thursday, August 24th. Cowen restated a “buy” rating and issued a $113.00 price target on shares of Check Point Software Technologies in a research note on Friday, September 8th. Oppenheimer restated a “buy” rating and issued a $128.00 price target on shares of Check Point Software Technologies in a research note on Monday, October 2nd. Jefferies Group restated a “buy” rating and issued a $126.00 price target on shares of Check Point Software Technologies in a research note on Thursday, October 19th. Finally, Stephens downgraded Check Point Software Technologies from an “overweight” rating to an “equal weight” rating and set a $110.00 price target for the company. in a research note on Wednesday, November 1st. Twenty analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Check Point Software Technologies currently has a consensus rating of “Hold” and a consensus target price of $113.60.

Check Point Software Technologies (NASDAQ:CHKP) traded up $0.92 during mid-day trading on Tuesday, reaching $107.22. The company’s stock had a trading volume of 1,780,000 shares, compared to its average volume of 962,988. The company has a market capitalization of $17,524.36, a P/E ratio of 22.57, a price-to-earnings-growth ratio of 2.30 and a beta of 0.62. Check Point Software Technologies has a 12-month low of $84.00 and a 12-month high of $119.20.

Several institutional investors and hedge funds have recently added to or reduced their stakes in CHKP. Harding Loevner LP lifted its holdings in Check Point Software Technologies by 3,559.4% during the 3rd quarter. Harding Loevner LP now owns 214,296,110 shares of the technology company’s stock worth $495,041,000 after purchasing an additional 208,440,017 shares during the last quarter. Schroder Investment Management Group lifted its holdings in Check Point Software Technologies by 4.2% during the 3rd quarter. Schroder Investment Management Group now owns 5,513,142 shares of the technology company’s stock worth $619,512,000 after purchasing an additional 220,009 shares during the last quarter. Veritas Asset Management LLP acquired a new stake in Check Point Software Technologies during the 2nd quarter worth approximately $482,664,000. FMR LLC lifted its holdings in Check Point Software Technologies by 13.5% during the 2nd quarter. FMR LLC now owns 3,528,750 shares of the technology company’s stock worth $384,916,000 after purchasing an additional 420,853 shares during the last quarter. Finally, FIL Ltd lifted its holdings in Check Point Software Technologies by 1.5% during the 2nd quarter. FIL Ltd now owns 2,911,917 shares of the technology company’s stock worth $317,632,000 after purchasing an additional 43,674 shares during the last quarter. 73.93% of the stock is owned by institutional investors.

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About Check Point Software Technologies

Check Point Software Technologies Ltd. (Check point) develops, markets and supports a range of products and services for information technology (IT) security. The Company’s products and services are sold to enterprises, service providers, small and medium sized businesses and consumers. It offers enterprises a platform to deploy independent, modular and interoperable security applications (Software Blades), such as firewall, virtual private network (VPN), intrusion prevention system (IPS), Application Control, Anti-Bot, antivirus, data loss prevention (DLP), policy management, event analysis or multi-domain management.