Glenmede Trust Co. NA Boosts Holdings in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Glenmede Trust Co. NA increased its stake in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 3.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,725 shares of the technology company’s stock after buying an additional 130 shares during the quarter. Glenmede Trust Co. NA’s holdings in Check Point Software Technologies were worth $718,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Check Point Software Technologies in the second quarter valued at $30,000. Kathleen S. Wright Associates Inc. purchased a new position in shares of Check Point Software Technologies during the third quarter valued at approximately $33,000. Concord Wealth Partners acquired a new position in Check Point Software Technologies in the 3rd quarter valued at $37,000. Arrow Financial Corp boosted its holdings in shares of Check Point Software Technologies by 62.5% during the third quarter. Arrow Financial Corp now owns 260 shares of the technology company’s stock worth $50,000 after purchasing an additional 100 shares during the last quarter. Finally, FSC Wealth Advisors LLC purchased a new stake in shares of Check Point Software Technologies in the third quarter valued at $60,000. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Check Point Software Technologies Trading Up 2.7 %

NASDAQ:CHKP opened at $187.09 on Wednesday. The company has a 50-day moving average of $188.80 and a 200-day moving average of $178.89. The firm has a market cap of $20.58 billion, a price-to-earnings ratio of 25.56, a price-to-earnings-growth ratio of 3.11 and a beta of 0.63. Check Point Software Technologies Ltd. has a twelve month low of $143.28 and a twelve month high of $210.70.

Check Point Software Technologies (NASDAQ:CHKP) last issued its earnings results on Tuesday, October 29th. The technology company reported $2.25 earnings per share for the quarter, hitting analysts’ consensus estimates of $2.25. The firm had revenue of $635.10 million during the quarter, compared to analysts’ expectations of $634.96 million. Check Point Software Technologies had a net margin of 33.17% and a return on equity of 31.84%. The firm’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same period last year, the firm posted $1.80 earnings per share. On average, research analysts forecast that Check Point Software Technologies Ltd. will post 7.86 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have issued reports on CHKP. BMO Capital Markets raised their price target on Check Point Software Technologies from $200.00 to $238.00 and gave the stock a “market perform” rating in a research note on Friday, October 25th. Bank of America cut shares of Check Point Software Technologies from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $205.00 to $195.00 in a research note on Wednesday, October 30th. Truist Financial lifted their price target on shares of Check Point Software Technologies from $200.00 to $220.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Mizuho increased their target price on Check Point Software Technologies from $178.00 to $205.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Finally, Robert W. Baird reduced their price target on Check Point Software Technologies from $210.00 to $205.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 30th. Fifteen equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $197.74.

About Check Point Software Technologies

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.