Institutional Move: As Check Point Software Technolog (CHKP) Market Valuation Declined, Investec Asset Management LTD Has Decreased Stake

Institutional Move: As Check Point Software Technolog (CHKP) Market Valuation Declined, Investec Asset Management LTD Has Decreased Stake

Investec Asset Management Ltd decreased its stake in Check Point Software Technolog (CHKP) by 8.44% based on its latest 2016Q3 regulatory filing with the SEC. Investec Asset Management Ltd sold 265,221 shares as the company’s stock declined 2.52% while stock markets rallied. The institutional investor held 2.88 million shares of the prepackaged software company at the end of 2016Q3, valued at $223.23 million, down from 3.14M at the end of the previous reported quarter. Investec Asset Management Ltd who had been investing in Check Point Software Technolog for a number of months, seems to be less bullish one the $15.70 billion market cap company. The stock is up 0.58% or $0.51 hitting $88.72, despite the negative news. About 1.88 million shares traded hands or 64.91% up from the average. Check Point Software Technologies Ltd. (NASDAQ:CHKP) has risen 4.06% since June 7, 2016 and is uptrending. It has underperformed by 3.36% the S&P500.

Investec Asset Management Ltd, which manages about $20.53 billion US Long portfolio, upped its stake in Ternium Sa (NYSE:TX) by 282,880 shares to 1.28 million shares, valued at $25.22 million in 2016Q3, according to the filing. It also increased its holding in Ally Financial Inc (NYSE:ALLY) by 343,512 shares in the quarter, for a total of 10.75 million shares, and has risen its stake in 3M Co (NYSE:MMM).

Analysts await Check Point Software Technologies Ltd. (NASDAQ:CHKP) to report earnings on January, 26. They expect $1.14 earnings per share, up 3.64% or $0.04 from last year’s $1.1 per share. CHKP’s profit will be $201.74M for 19.46 P/E if the $1.14 EPS becomes a reality. After $1.01 actual earnings per share reported by Check Point Software Technologies Ltd. for the previous quarter, Wall Street now forecasts 12.87% EPS growth.

More notable recent Check Point Software Technologies Ltd. (NASDAQ:CHKP) news were published by: Finance.Yahoo.com which released: “Harding Loevner Lp Buys Check Point Software Technologies Ltd, ICICI Bank Ltd …” on January 11, 2017, also Fool.com with their article: “Better Buy: Palo Alto Networks, Inc. vs. Check Point Software Technologies, Ltd.” published on January 05, 2017, Fool.com published: “Better Buy: FireEye, Inc. vs. Check Point Software Technologies Ltd.” on December 08, 2016. More interesting news about Check Point Software Technologies Ltd. (NASDAQ:CHKP) were released by: Fool.com and their article: “Check Point Software Technologies Ltd. Earnings Top Company Guidance” published on October 31, 2016 as well as Fool.com‘s news article titled: “Check Point Software Technologies Ltd: 3 Things You Need to Know” with publication date: November 21, 2016.

According to Zacks Investment Research, “Check Point Software Technologies Ltd. is a leading provider of policy-based enterprise security and traffic management solutions. Through its patented Stateful Inspection technology, the company delivers Secure Enterprise Connectivity solutions that protect information assets and enhance the performance of enterprise networks. The company’s products include the world’s leading enterprise security suite, FireWall-1r, the industry’s leading family of virtual private network solutions, VPN-1T, and the industry’s premier bandwidth management solution, FloodGate-1T.”

Check Point Software Technologies Ltd. (NASDAQ:CHKP) Ratings Coverage

Out of 17 analysts covering Check Point Software Technologies Ltd. (NASDAQ:CHKP), 2 rate it a “Buy”, 2 “Sell”, while 13 “Hold”. This means 12% are positive. Check Point Software Technologies Ltd. has been the topic of 21 analyst reports since September 10, 2015 according to StockzIntelligence Inc. BTIG Research initiated the shares of CHKP in a report on Thursday, September 10 with “Neutral” rating. PiperJaffray initiated it with “Overweight” rating and $95 target price in Wednesday, September 28 report. Bernstein initiated Check Point Software Technologies Ltd. (NASDAQ:CHKP) on Friday, March 11 with “Underperform” rating. BMO Capital Markets initiated the shares of CHKP in a report on Thursday, January 5 with “Market Perform” rating. Barclays Capital downgraded it to “Underweight” rating and $83 target price in Wednesday, January 6 report. Wells Fargo downgraded Check Point Software Technologies Ltd. (NASDAQ:CHKP) on Monday, January 4 to “Market Perform” rating. The firm earned “Outperform” rating on Thursday, September 17 by Wells Fargo. Guggenheim initiated the shares of CHKP in a report on Thursday, September 15 with “Neutral” rating. The firm earned “Hold” rating on Tuesday, December 15 by Evercore. Robert W. Baird initiated Check Point Software Technologies Ltd. (NASDAQ:CHKP) on Wednesday, August 24 with “Neutral” rating.

CHKP Company Profile

Check Point Software Technologies Ltd. (Check point), incorporated in July 5, 1993, develops, markets and supports a range of services and products for information technology (IT) security. The Company’s services and products 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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