Check Point Software Technologies Ltd. (CHKP) Stake Reduced by Arrow Financial Corp

Arrow Financial Corp reduced its stake in Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 15.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 16,717 shares of the technology company’s stock after selling 3,087 shares during the period. Arrow Financial Corp’s holdings in Check Point Software Technologies were worth $1,823,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Crestwood Advisors Group LLC acquired a new stake in Check Point Software Technologies during the first quarter valued at about $154,000. Bronfman E.L. Rothschild L.P. raised its stake in Check Point Software Technologies by 10.7% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 1,509 shares of the technology company’s stock valued at $155,000 after buying an additional 146 shares during the last quarter. IFP Advisors Inc raised its stake in Check Point Software Technologies by 2.4% in the first quarter. IFP Advisors Inc now owns 1,513 shares of the technology company’s stock valued at $155,000 after buying an additional 36 shares during the last quarter. Quadrant Capital Group LLC raised its stake in Check Point Software Technologies by 32.0% in the first quarter. Quadrant Capital Group LLC now owns 1,531 shares of the technology company’s stock valued at $153,000 after buying an additional 371 shares during the last quarter. Finally, Parallel Advisors LLC raised its stake in Check Point Software Technologies by 13.9% in the first quarter. Parallel Advisors LLC now owns 1,654 shares of the technology company’s stock valued at $173,000 after buying an additional 202 shares during the last quarter. Institutional investors own 71.65% of the company’s stock.

Check Point Software Technologies Ltd. (NASDAQ CHKP) opened at 107.29 on Friday. The company has a market cap of $17.52 billion, a P/E ratio of 23.81 and a beta of 0.72. Check Point Software Technologies Ltd. has a 52 week low of $74.34 and a 52 week high of $116.63. The firm’s 50 day moving average is $108.84 and its 200-day moving average is $105.95.

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

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Several analysts have issued reports on the stock. Evercore ISI set a $100.00 price target on shares of Check Point Software Technologies and gave the company a “hold” rating in a research report on Friday, August 11th. Oppenheimer Holdings, Inc. restated an “outperform” rating and set a $128.00 price target on shares of Check Point Software Technologies in a research report on Tuesday. BidaskClub upgraded shares of Check Point Software Technologies from a “buy” rating to a “strong-buy” rating in a research report on Friday, June 9th. Vetr upgraded shares of Check Point Software Technologies from a “sell” rating to a “hold” rating and set a $107.79 price target for the company in a research report on Monday, June 12th. Finally, BTIG Research restated a “buy” rating and set a $118.00 price target on shares of Check Point Software Technologies in a research report on Monday, April 24th. Eighteen investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target 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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