Check Point Software Technologies Ltd. (NASDAQ:CHKP) Stake Decreased by Dorsey & Whitney Trust CO LLC

Dorsey & Whitney Trust CO LLC trimmed its holdings in Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 2.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,349 shares of the technology company’s stock after selling 110 shares during the quarter. Dorsey & Whitney Trust CO LLC’s holdings in Check Point Software Technologies were worth $718,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the business. Morningstar Investment Services LLC raised its position in shares of Check Point Software Technologies by 98.5% during the 4th quarter. Morningstar Investment Services LLC now owns 970,634 shares of the technology company’s stock worth $148,080,000 after buying an additional 481,626 shares in the last quarter. Swedbank AB bought a new stake in Check Point Software Technologies during the first quarter worth approximately $69,487,000. Boston Partners raised its holdings in Check Point Software Technologies by 13.1% during the first quarter. Boston Partners now owns 3,623,923 shares of the technology company’s stock worth $594,169,000 after purchasing an additional 419,404 shares in the last quarter. Acadian Asset Management LLC lifted its position in Check Point Software Technologies by 10.5% in the second quarter. Acadian Asset Management LLC now owns 4,108,685 shares of the technology company’s stock worth $677,869,000 after purchasing an additional 391,983 shares during the period. Finally, Norges Bank bought a new position in Check Point Software Technologies during the 4th quarter valued at $29,801,000. 87.62% of the stock is currently owned by institutional investors and hedge funds.

Check Point Software Technologies Price Performance

NASDAQ CHKP opened at $189.90 on Thursday. The firm has a market capitalization of $21.44 billion, a price-to-earnings ratio of 26.38, a price-to-earnings-growth ratio of 2.94 and a beta of 0.62. The company has a 50 day simple moving average of $181.38 and a 200-day simple moving average of $166.22. Check Point Software Technologies Ltd. has a 52-week low of $126.57 and a 52-week high of $193.27.

Check Point Software Technologies (NASDAQ:CHKP) last released its earnings results on Wednesday, July 24th. The technology company reported $2.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.16 by $0.01. The company had revenue of $627.40 million during the quarter, compared to the consensus estimate of $623.19 million. Check Point Software Technologies had a net margin of 33.61% and a return on equity of 31.59%. The company’s revenue was up 6.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.74 EPS. On average, analysts predict that Check Point Software Technologies Ltd. will post 7.83 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on CHKP. Truist Financial reissued a “buy” rating and issued a $200.00 price objective (up previously from $175.00) on shares of Check Point Software Technologies in a research note on Thursday, July 25th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Check Point Software Technologies from $175.00 to $185.00 and gave the stock a “hold” rating in a research report on Thursday, July 25th. Wedbush raised their price objective on shares of Check Point Software Technologies from $185.00 to $200.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Jefferies Financial Group boosted their target price on shares of Check Point Software Technologies from $185.00 to $210.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Finally, Scotiabank raised their target price on shares of Check Point Software Technologies from $180.00 to $200.00 and gave the stock a “sector outperform” rating in a report on Thursday, July 25th. Fifteen research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, Check Point Software Technologies has an average rating of “Hold” and an average price target of $183.68.

Check Point Software Technologies Profile

Check Point Software Technologies Ltd. develops, markets, and supports a range of products and services for IT security worldwide. The company offers a multilevel security architecture, cloud, network, mobile devices, endpoints information, and IOT solutions. It provides Check Point Infinity Architecture, a cyber security architecture that protects against fifth generation cyber-attacks across various networks, endpoint, cloud, workloads, Internet of Things, and mobile.