Check Point Software (CHKP) is Downgraded by Wells Fargo to Market Perform

Check Point Software (CHKP) is Downgraded by Wells Fargo to Market Perform , according to the research report released to the investors. Earlier the firm had a rating of Outperform on the company shares. The shares recommendation by the Brokerage Firm was released on Jan-4-2016.

Check Point Software Technologies Ltd. is up 1.79% in the last 3-month period. Year-to-Date the stock performance stands at 3.58%.

Check Point Software Technologies Ltd. (NASDAQ:CHKP) has lost 1.48% during the past week and dropped 6.36% in the last 4 weeks. The shares are however, negative as compared to the S&P 500 for the past week with a loss of 0.66%. Check Point Software Technologies Ltd. (NASDAQ:CHKP) has underperformed the index by 4.17% in the last 4 weeks. Investors should watch out for further signals and trade with caution.

Shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP) ended Thursday session in red amid volatile trading. The shares closed down 0.98 points or 1.19% at $81.38 with 820,911 shares getting traded. Post opening the session at $82.17, the shares hit an intraday low of $81.37 and an intraday high of $82.5056 and the price vacillated in this range throughout the day. The company has a market cap of $14,957 million and the number of outstanding shares have been calculated to be 183,790,950 shares. The 52-week high of Check Point Software Technologies Ltd. (NASDAQ:CHKP) is $88.49 and the 52-week low is $65.09.

Currently the company Insiders own 29% of Check Point Software Technologies Ltd. shares according to the proxy statements. Institutional Investors own 71.46% of Check Point Software Technologies Ltd. shares.

Check Point Software Technologies Ltd. (Check Point) develops technologies to communications and transactions over the Internet by enterprises and consumers. Check Point develops, markets and supports a range of software, as well as combined hardware and software products and services for information technology (IT) security. The Company offers its customers a portfolio of network and gateway security solutions, data and endpoint security solutions and management solutions. Its solutions operate under unified security architecture. During the year ended December 31, 2011, Check Point introduced software blades, such as Application Control, URL Filtering, and an antibot software blade. The Company derives its revenues mainly from products, licenses, combined hardware and software products, software updates and maintenance and subscriptions. On April 17, 2012, it introduced ThreatCloud and GAiA unified secure operating system. On November 24, 2011, the Company acquired Dynasec Ltd.