Check Point Software Technologies Ltd. (CHKP) Sees Large Drop in Short Interest

Check Point Software Technologies Ltd. (NASDAQ:CHKP) was the target of a large decrease in short interest in April. As of April 28th, there was short interest totalling 5,182,231 shares, a decrease of 19.5% from the April 13th total of 6,440,386 shares. Based on an average trading volume of 1,256,287 shares, the days-to-cover ratio is currently 4.1 days. Approximately 3.7% of the shares of the stock are short sold.

Several research firms have recently issued reports on CHKP. BMO Capital Markets reissued a “hold” rating and set a $117.00 target price on shares of Check Point Software Technologies in a research note on Thursday, June 1st. Susquehanna Bancshares Inc assumed coverage on shares of Check Point Software Technologies in a research note on Wednesday, June 7th. They issued a “positive” rating and a $132.00 price target on the stock. Citigroup Inc. raised their price target on shares of Check Point Software Technologies from $109.00 to $111.00 and gave the company a “neutral” rating in a research note on Thursday, May 25th. Vetr raised shares of Check Point Software Technologies from a “sell” rating to a “hold” rating and set a $107.79 price target on the stock in a research note on Monday. Finally, Barclays PLC raised shares of Check Point Software Technologies from an “underweight” rating to an “equal weight” rating and raised their price target for the company from $95.00 to $112.00 in a research note on Friday, April 28th. Fifteen equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the stock. Check Point Software Technologies currently has a consensus rating of “Buy” and a consensus price target of $106.19.

Check Point Software Technologies (NASDAQ:CHKP) traded down 0.16% during midday trading on Friday, hitting $110.00. 1,384,208 shares of the stock traded hands. Check Point Software Technologies has a one year low of $74.34 and a one year high of $115.87. The company’s 50-day moving average is $109.34 and its 200-day moving average is $99.32. The company has a market cap of $18.16 billion, a PE ratio of 25.50 and a beta of 0.68.

Check Point Software Technologies (NASDAQ:CHKP) last posted its quarterly earnings data on Thursday, April 27th. The technology company reported $1.10 EPS for the quarter, beating the Zacks’ consensus estimate of $1.07 by $0.03. Check Point Software Technologies had a net margin of 41.75% and a return on equity of 21.53%. The firm had revenue of $435.50 million for the quarter, compared to the consensus estimate of $432.41 million. During the same period in the prior year, the firm posted $1.06 EPS. The firm’s revenue was up 7.7% compared to the same quarter last year. Equities research analysts expect that Check Point Software Technologies will post $5.17 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Financial Architects Inc increased its position in Check Point Software Technologies by 95.3% in the third quarter. Financial Architects Inc now owns 1,500 shares of the technology company’s stock worth $117,000 after buying an additional 732 shares during the period. Parallel Advisors LLC bought a new position in Check Point Software Technologies during the fourth quarter worth approximately $123,000. Johnson Financial Group Inc. increased its position in Check Point Software Technologies by 209.5% in the fourth quarter. Johnson Financial Group Inc. now owns 1,625 shares of the technology company’s stock worth $137,000 after buying an additional 1,100 shares during the period. Edmond DE Rothschild Monaco bought a new position in Check Point Software Technologies during the third quarter worth approximately $145,000. Finally, Quadrant Capital Group LLC increased its position in Check Point Software Technologies by 32.0% in the first quarter. Quadrant Capital Group LLC now owns 1,531 shares of the technology company’s stock worth $153,000 after buying an additional 371 shares during the period. Hedge funds and other institutional investors own 72.40% of the company’s stock.

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Check Point Software Technologies Company Profile

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.

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