Pinnacle Associates Ltd. Has $1.32 Million Stake in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Pinnacle Associates Ltd. raised its holdings in Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 6.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 11,400 shares of the technology company’s stock after acquiring an additional 700 shares during the period. Pinnacle Associates Ltd.’s holdings in Check Point Software Technologies were worth $1,318,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of CHKP. Pinnacle Bank grew its stake in 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 acquiring an additional 106 shares during the period. NuWave Investment Management LLC grew its stake in Check Point Software Technologies by 64.5% in the second quarter. NuWave Investment Management LLC now owns 306 shares of the technology company’s stock valued at $36,000 after acquiring an additional 120 shares during the period. Meeder Asset Management Inc. acquired a new position in Check Point Software Technologies in the second quarter valued at about $38,000. Mizuho Securities Co. Ltd. acquired a new position in Check Point Software Technologies in the second quarter valued at about $39,000. Finally, Meridian Wealth Management LLC acquired a new position in Check Point Software Technologies in the first quarter valued at about $63,000. 69.81% of the stock is owned by hedge funds and other institutional investors.

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

CHKP opened at $108.31 on Friday. Check Point Software Technologies Ltd. has a 52-week low of $98.57 and a 52-week high of $132.76. The firm has a market capitalization of $16.51 billion, a PE ratio of 20.79, a PEG ratio of 2.24 and a beta of 0.79. The business’s 50-day simple moving average is $113.53 and its 200 day simple moving average is $117.84.

Check Point Software Technologies (NASDAQ:CHKP) last released its earnings results on Wednesday, July 24th. The technology company reported $1.38 earnings per share (EPS) for the quarter, topping the 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 business had revenue of $488.10 million for the quarter, compared to analyst estimates of $487.53 million. During the same quarter in the prior year, the company posted $1.37 earnings per share. Check Point Software Technologies’s revenue was up 4.3% on a year-over-year basis. On average, equities research analysts anticipate that Check Point Software Technologies Ltd. will post 5.49 earnings per share for the current year.

Check Point Software Technologies Company 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.

Read More: How are Outstanding Shares Different from Authorized Shares?

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

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