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

Reliance Trust Co. of Delaware bought a new position in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 6,706 shares of the technology company’s stock, valued at approximately $732,000.

Other hedge funds also recently made changes to their positions in the company. Cim LLC bought a new stake in shares of Check Point Software Technologies during the first quarter valued at approximately $227,000. Howard Capital Management increased its stake 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 worth $15,529,000 after buying an additional 2,365 shares during the period. Eastern Bank acquired a new stake in Check Point Software Technologies during the first quarter worth $339,000. Baldwin Brothers Inc. MA increased its stake in Check Point Software Technologies by 3.6% in the first quarter. Baldwin Brothers Inc. MA now owns 115,678 shares of the technology company’s stock worth $11,876,000 after buying an additional 4,019 shares during the period. Finally, Atria Investments LLC increased its stake in Check Point Software Technologies by 5.1% in the first quarter. Atria Investments LLC now owns 7,176 shares of the technology company’s stock worth $737,000 after buying an additional 349 shares during the period. Institutional investors and hedge funds own 71.65% of the company’s stock.

Check Point Software Technologies Ltd. (CHKP) traded up 0.44% on Friday, reaching $107.29. 622,180 shares of the company’s stock traded hands. The firm has a market capitalization 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 stock has a 50-day moving average of $108.84 and a 200 day moving average of $105.95.

Check Point Software Technologies (NASDAQ:CHKP) last announced its quarterly earnings results on Thursday, July 20th. The technology company reported $1.26 earnings per share (EPS) 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 during the quarter, compared to analyst estimates of $454.62 million. During the same period in the previous year, the company earned $1.09 EPS. The firm’s revenue was up 8.5% on a year-over-year basis. On average, equities analysts expect that Check Point Software Technologies Ltd. will post $5.18 EPS for the current fiscal year.

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Several equities analysts recently commented on CHKP shares. Cleveland Research upgraded shares of Check Point Software Technologies from a “neutral” rating to a “buy” rating in a report on Monday, April 24th. Barclays PLC restated a “hold” rating and issued a $110.00 target price on shares of Check Point Software Technologies in a research note on Sunday, July 23rd. 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. Evercore ISI lowered their price target on shares of Check Point Software Technologies from $100.00 to $95.00 and set an “in-line” rating for the company in a research report on Friday, April 28th. Finally, Northland Securities reaffirmed a “hold” rating and issued a $120.00 price target on shares of Check Point Software Technologies in a research report on Friday, June 30th. Eighteen research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Check Point Software Technologies 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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