Check Point Software Technologies Ltd. (CHKP) Stake Reduced by First Merchants Corp

First Merchants Corp cut its stake in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 4.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,157 shares of the technology company’s stock after selling 584 shares during the period. First Merchants Corp’s holdings in Check Point Software Technologies were worth $1,326,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. OppenheimerFunds Inc. purchased a new position in Check Point Software Technologies during the first quarter valued at $19,960,000. 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 in the last quarter. NN Investment Partners Holdings N.V. purchased a new position in Check Point Software Technologies during the second quarter valued at $2,065,000. Howard Capital Management raised its position in Check Point Software Technologies by 1.6% in the first quarter. Howard Capital Management now owns 151,265 shares of the technology company’s stock valued at $15,529,000 after buying an additional 2,365 shares in the last quarter. Finally, Nepsis Capital Management Inc. purchased a new position in Check Point Software Technologies during the first quarter valued at $5,314,000. 71.65% of the stock is currently owned by institutional investors and hedge funds.

Shares of Check Point Software Technologies Ltd. (NASDAQ CHKP) opened at 107.29 on Friday. The firm has a market cap of $17.52 billion, a price-to-earnings ratio of 23.81 and a beta of 0.72. Check Point Software Technologies Ltd. has a one year low of $74.34 and a one year high of $116.63. The stock has a 50 day moving average price of $108.84 and a 200 day moving average price of $105.95.

Check Point Software Technologies (NASDAQ:CHKP) last announced its quarterly earnings data on Thursday, July 20th. The technology company reported $1.26 EPS for the quarter, beating the Zacks’ consensus estimate of $1.22 by $0.04. The firm had revenue of $458.60 million for the quarter, compared to analyst estimates of $454.62 million. Check Point Software Technologies had a return on equity of 22.02% and a net margin of 42.17%. The business’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same period last year, the company earned $1.09 EPS. On average, equities research analysts forecast that Check Point Software Technologies Ltd. will post $5.18 EPS for the current year.

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CHKP has been the topic of several research analyst reports. Argus reaffirmed a “buy” rating and issued a $124.00 price objective (up from $115.00) on shares of Check Point Software Technologies in a research note on Tuesday, July 25th. BMO Capital Markets reaffirmed a “market perform” rating and issued a $115.00 price objective (down from $117.00) on shares of Check Point Software Technologies in a research note on Friday, July 21st. BidaskClub raised Check Point Software Technologies from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, July 12th. Royal Bank Of Canada restated a “hold” rating and set a $105.00 price objective on shares of Check Point Software Technologies in a report on Friday, April 28th. Finally, BTIG Research reiterated a “buy” rating and issued a $118.00 price target on shares of Check Point Software Technologies in a report on Monday, April 24th. Eighteen investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. The stock presently has a consensus 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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