Earnest Partners LLC Trims Stock Position in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Earnest Partners LLC cut its stake in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 1.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 948,748 shares of the technology company’s stock after selling 11,747 shares during the quarter. Check Point Software Technologies accounts for about 1.0% of Earnest Partners LLC’s holdings, making the stock its 27th biggest holding. Earnest Partners LLC’s holdings in Check Point Software Technologies were worth $109,685,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently made changes to their positions in the business. Moors & Cabot Inc. grew its position in Check Point Software Technologies by 4.4% during the 1st quarter. Moors & Cabot Inc. now owns 2,350 shares of the technology company’s stock valued at $299,000 after purchasing an additional 100 shares during the last quarter. Park Avenue Securities LLC grew its holdings in Check Point Software Technologies by 4.2% during the 2nd quarter. Park Avenue Securities LLC now owns 2,508 shares of the technology company’s stock valued at $290,000 after buying an additional 100 shares in the last quarter. Manchester Capital Management LLC grew its holdings in Check Point Software Technologies by 10.5% during the 1st quarter. Manchester Capital Management LLC now owns 1,105 shares of the technology company’s stock valued at $140,000 after buying an additional 105 shares in the last quarter. Pinnacle Bank grew its holdings in shares of Check Point Software Technologies by 69.7% in the second quarter. Pinnacle Bank now owns 258 shares of the technology company’s stock valued at $30,000 after purchasing an additional 106 shares in the last quarter. Finally, Janney Montgomery Scott LLC grew its holdings in shares of Check Point Software Technologies by 1.2% in the first quarter. Janney Montgomery Scott LLC now owns 9,479 shares of the technology company’s stock valued at $1,199,000 after purchasing an additional 115 shares in the last quarter. Institutional investors and hedge funds own 70.84% of the company’s stock.

Several analysts have recently weighed in on the company. OTR Global downgraded Check Point Software Technologies to a “positive” rating in a research report on Tuesday, July 16th. ValuEngine lowered Check Point Software Technologies from a “buy” rating to a “hold” rating in a research note on Wednesday, July 24th. Cowen started coverage on Check Point Software Technologies in a research note on Thursday, May 23rd. They set a “market perform” rating and a $120.00 price target on the stock. Evercore ISI set a $105.00 target price on Check Point Software Technologies and gave the stock a “hold” rating in a report on Wednesday, July 24th. Finally, Northland Securities reaffirmed a “neutral” rating on shares of Check Point Software Technologies in a report on Thursday, July 25th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and five have given a buy rating to the stock. Check Point Software Technologies presently has an average rating of “Hold” and an average price target of $124.47.

NASDAQ CHKP opened at $111.46 on Friday. Check Point Software Technologies Ltd. has a fifty-two week low of $98.57 and a fifty-two week high of $132.76. The stock has a market cap of $16.94 billion, a price-to-earnings ratio of 21.39, a price-to-earnings-growth ratio of 2.30 and a beta of 0.79. The business has a fifty day moving average of $109.40 and a 200-day moving average of $116.81.

Check Point Software Technologies (NASDAQ:CHKP) last posted its quarterly earnings results on Wednesday, July 24th. The technology company reported $1.38 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.24 by $0.14. Check Point Software Technologies had a return on equity of 22.05% and a net margin of 40.99%. The firm had revenue of $488.10 million during the quarter, compared to the consensus estimate of $487.53 million. During the same quarter in the previous year, the business earned $1.37 earnings per share. The firm’s quarterly revenue was up 4.3% compared to the same quarter last year. As a group, analysts forecast that Check Point Software Technologies Ltd. will post 5.49 EPS for the current fiscal year.

Check Point Software Technologies Profile

Check Point Software Technologies Ltd. develops, markets, and supports a range of products and services for IT security worldwide. The company offers a portfolio of network and gateway solutions, management solutions, and data and endpoint security solutions. It provides Check Point Infinity Architecture, a cyber security architecture that protects against 5th generation mega cyber-attacks across various networks, endpoint, cloud, and mobile; security gateways from platforms for small business and small office locations, high end and high demanding data centers, and perimeter environments; and Check Point SandBlast family for threat prevention and zero-day protections.

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Institutional Ownership by Quarter for Check Point Software Technologies (NASDAQ:CHKP)

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