Economy

Check Point Software Technologi (NASDAQ:CHKP) Sees Price Decrease - Down by 9.84%

Check Point Software Technologi (NASDAQ:CHKP) Sees Price Decrease - Down by 9.84%”

The firm owned 1,445,075 shares of the technology company's stock after buying an additional 603,100 shares during the period. Principal Financial Group Inc. boosted its position in shares of Check Point Software Technologies by 686.7% during the first quarter. Investors may be tempted to jump on the bullish bandwagon when stocks are powering higher. The stock is now valued at $117.71 after moving 0.82% in the most recent session and 0.38% over the past 5 trading days. About 5.16 million shares traded. It has underperformed by 55.32% the S&P500.

Check Point Software Technologies Ltd. In the last earnings report the EPS was $4.51 and is projected to be $5.18 for the current year with 163,328,000 shares now outstanding. Robert W. Baird reiterated a "neutral" rating on shares of Check Point Software Technologies in a research note on Tuesday, November 1st. The company has market cap of $17.06 billion.

The stock is down by 12.84% since yesterday's close of $117.71 losing $15.11. On the other side, a stock may be considered to be in a downtrend if trading below the moving average and sloping downward. Check Point Software Technologies Ltd. (NASDAQ:CHKP) has risen 31.64% since November 1, 2016 and is uptrending. It has outperformed by 14.94% the S&P500.

11/1/2017-BTIG Research was Downgraded by analysts at BTIG Research from a "Hold" rating to a " rating. Therefore 37% are positive. Rice Energy had 87 analyst reports since July 21, 2015 according to SRatingsIntel. The rating was upgraded by KeyBanc Capital Markets to "Overweight" on Wednesday, September 7. Deutsche Bank AG reaffirmed a "hold" rating on shares of Check Point Software Technologies in a research report on Saturday, October 15th. As per Tuesday, October 10, the company rating was maintained by BMO Capital Markets. The rating was initiated by Bernstein with "Underperform" on Friday, March 11. Williams Capital Group has "Buy" rating and $30 target. Going further, the current medium-term opinion signal is 75% Buy, and the short-term reading is presently 80% Buy. J P Morgan Chase & Co lowered their price objective on Check Point Software Technologies from $123.00 to $121.00 and set a "neutral" rating for the company in a research report on Wednesday. The firm earned "Buy" rating on Monday, February 6 by Seaport Global Securities. Values can range from 0 to -100.

Several other hedge funds have also recently bought and sold shares of CHKP. 154.41 million shares or 13.71% less from 178.94 million shares in 2017Q1 were reported. Company stock has moved down -12.42% since the open, landing shares on today's list of top losers. Citigroup Inc invested in 0% or 414 shares. Susquehanna Int Llp holds 0% in DineEquity Inc (NYSE:DIN) or 22,416 shares. Goldentree Asset Mngmt LP has 844,423 shares. Aureus Asset Management reported 0.06% in Rice Energy Inc (NYSE:RICE). Ameriprise Fincl holds 0% or 105,438 shares. Moreover, the Q4 guidance is an implicit reduction of the company's previously stated full-year revenue guidance. It also reduced its holding in Ftd Cos Inc (NASDAQ:FTD) by 82,611 shares in the quarter, leaving it with 24,744 shares, and cut its stake in Brf Sa (NYSE:BRFS).

The problem in the quarter appears to have been mainly from what CEO Gil Shwed called "execution challenges" in the U.S. He declared himself "cautious on our near-term execution", and referenced the expansion of the company's U.S. sales force and how it resulted in "many new people in key positions".



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