Check Point Software Technologies Ltd. (CHKP) Position Reduced by Advisors Asset Management Inc.

Advisors Asset Management Inc. lowered its holdings in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 26.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,887 shares of the technology company’s stock after selling 1,063 shares during the period. Advisors Asset Management Inc.’s holdings in Check Point Software Technologies were worth $282,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CHKP. Massachusetts Financial Services Co. MA boosted its holdings in Check Point Software Technologies by 11.3% in the second quarter. Massachusetts Financial Services Co. MA now owns 13,816,985 shares of the technology company’s stock worth $1,349,645,000 after acquiring an additional 1,405,305 shares in the last quarter. BlackRock Inc. boosted its holdings in Check Point Software Technologies by 1.0% in the second quarter. BlackRock Inc. now owns 5,227,074 shares of the technology company’s stock worth $510,581,000 after acquiring an additional 53,263 shares in the last quarter. Flossbach Von Storch AG boosted its holdings in Check Point Software Technologies by 1,455.9% in the second quarter. Flossbach Von Storch AG now owns 2,486,903 shares of the technology company’s stock worth $242,921,000 after acquiring an additional 2,327,068 shares in the last quarter. FMR LLC boosted its holdings in Check Point Software Technologies by 3.4% in the second quarter. FMR LLC now owns 2,299,435 shares of the technology company’s stock worth $224,609,000 after acquiring an additional 76,339 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its holdings in Check Point Software Technologies by 5.0% in the second quarter. Wells Fargo & Company MN now owns 2,226,664 shares of the technology company’s stock worth $217,499,000 after acquiring an additional 105,407 shares in the last quarter. 66.46% of the stock is owned by institutional investors and hedge funds.

CHKP has been the topic of several recent research reports. Zacks Investment Research upgraded Check Point Software Technologies from a “hold” rating to a “buy” rating and set a $133.00 price target on the stock in a report on Tuesday, September 25th. Wedbush initiated coverage on Check Point Software Technologies in a report on Thursday, October 18th. They issued an “outperform” rating and a $140.00 price target on the stock. BidaskClub upgraded Check Point Software Technologies from a “buy” rating to a “strong-buy” rating in a report on Tuesday, September 18th. Royal Bank of Canada reiterated a “hold” rating and issued a $115.00 price target on shares of Check Point Software Technologies in a report on Thursday, July 26th. Finally, Oppenheimer raised their target price on Check Point Software Technologies from $115.00 to $120.00 and gave the company an “outperform” rating in a report on Tuesday, July 24th. Nineteen analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $115.33.

CHKP stock opened at $112.64 on Friday. Check Point Software Technologies Ltd. has a twelve month low of $93.76 and a twelve month high of $120.81. The company has a market capitalization of $18.28 billion, a PE ratio of 23.03, a P/E/G ratio of 2.23 and a beta of 0.68.

Check Point Software Technologies (NASDAQ:CHKP) last posted its earnings results on Wednesday, October 24th. The technology company reported $1.38 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.36 by $0.02. Check Point Software Technologies had a return on equity of 23.04% and a net margin of 43.35%. The company had revenue of $470.80 million for the quarter, compared to analyst estimates of $465.94 million. During the same quarter last year, the company earned $1.30 earnings per share. The company’s revenue for the quarter was up 3.5% on a year-over-year basis. On average, sell-side analysts forecast that Check Point Software Technologies Ltd. will post 5.2 EPS for the current fiscal year.

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About Check Point Software Technologies

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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