Reliance Trust Co. of Delaware Purchases New Position in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Reliance Trust Co. of Delaware acquired a new position in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 6,706 shares of the technology company’s stock, valued at approximately $732,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CHKP. Massachusetts Financial Services Co. MA raised its position in Check Point Software Technologies by 1.9% in the first quarter. Massachusetts Financial Services Co. MA now owns 12,349,727 shares of the technology company’s stock valued at $1,267,823,000 after buying an additional 229,321 shares during the last quarter. Harding Loevner LP raised its position in Check Point Software Technologies by 31.8% in the first quarter. Harding Loevner LP now owns 5,565,861 shares of the technology company’s stock valued at $571,391,000 after buying an additional 1,342,443 shares during the last quarter. BlackRock Inc. raised its position in Check Point Software Technologies by 1,778.0% in the first quarter. BlackRock Inc. now owns 5,160,771 shares of the technology company’s stock valued at $529,804,000 after buying an additional 4,885,975 shares during the last quarter. FMR LLC raised its position in shares of Check Point Software Technologies by 35.3% in the first quarter. FMR LLC now owns 3,107,897 shares of the technology company’s stock valued at $319,056,000 after buying an additional 810,843 shares in the last quarter. Finally, William Blair Investment Management LLC raised its position in shares of Check Point Software Technologies by 6.4% in the first quarter. William Blair Investment Management LLC now owns 2,560,834 shares of the technology company’s stock valued at $262,895,000 after buying an additional 155,142 shares in the last quarter. 72.46% of the stock is owned by institutional investors.

Shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP) traded up 0.90% during trading on Friday, hitting $105.94. The stock had a trading volume of 940,713 shares. The firm has a 50 day moving average of $109.65 and a 200 day moving average of $105.55. The company has a market capitalization of $17.30 billion, a price-to-earnings ratio of 23.51 and a beta of 0.72. Check Point Software Technologies Ltd. has a 1-year low of $74.34 and a 1-year high of $116.63.

Check Point Software Technologies (NASDAQ:CHKP) last released its quarterly earnings data on Thursday, July 20th. The technology company reported $1.26 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.22 by $0.04. Check Point Software Technologies had a return on equity of 22.02% and a net margin of 42.17%. The business had revenue of $458.60 million for the quarter, compared to analysts’ expectations of $454.62 million. During the same quarter in the previous year, the business posted $1.09 EPS. Check Point Software Technologies’s revenue for the quarter was up 8.5% on a year-over-year basis. Analysts expect that Check Point Software Technologies Ltd. will post $5.18 EPS for the current fiscal year.

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CHKP has been the topic of several recent research reports. Evercore ISI set a $100.00 target price on shares of Check Point Software Technologies and gave the stock a “hold” rating in a research note on Friday. Citigroup Inc. upped their target price on shares of Check Point Software Technologies from $111.00 to $112.00 and gave the stock a “neutral” rating in a research note on Friday, July 21st. Cowen and Company reaffirmed a “buy” rating and set a $113.00 target price on shares of Check Point Software Technologies in a research note on Friday, July 21st. Oppenheimer Holdings, Inc. reissued an “outperform” rating and issued a $128.00 price objective on shares of Check Point Software Technologies in a research report on Wednesday, July 26th. Finally, BMO Capital Markets reaffirmed a “market perform” rating and issued a $116.00 target price (up from $110.00) on shares of Check Point Software Technologies in a research report on Friday, April 21st. Eighteen analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Check Point Software Technologies presently has an average rating of “Hold” and a consensus target price of $109.47.

About Check Point Software Technologies

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

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

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