Whittier Trust Co. of Nevada Inc. Decreases Holdings in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Whittier Trust Co. of Nevada Inc. lowered its holdings in Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 0.6% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 12,085 shares of the technology company’s stock after selling 70 shares during the quarter. Whittier Trust Co. of Nevada Inc.’s holdings in Check Point Software Technologies were worth $2,330,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Check Point Software Technologies in the second quarter valued at approximately $30,000. Concord Wealth Partners purchased a new position in shares of Check Point Software Technologies in the 1st quarter valued at $31,000. Kathleen S. Wright Associates Inc. acquired a new stake in Check Point Software Technologies during the 3rd quarter worth $33,000. Sound Income Strategies LLC lifted its position in Check Point Software Technologies by 654.4% in the third quarter. Sound Income Strategies LLC now owns 430 shares of the technology company’s stock valued at $83,000 after acquiring an additional 373 shares during the last quarter. Finally, Transcendent Capital Group LLC acquired a new position in Check Point Software Technologies in the first quarter valued at $107,000. Institutional investors and hedge funds own 87.62% of the company’s stock.

Analyst Upgrades and Downgrades

CHKP has been the subject of several research reports. BMO Capital Markets boosted their target price on Check Point Software Technologies from $180.00 to $200.00 and gave the company a “market perform” rating in a report on Thursday, July 25th. Royal Bank of Canada increased their price objective on Check Point Software Technologies from $165.00 to $187.00 and gave the company a “sector perform” rating in a report on Thursday, July 25th. Truist Financial restated a “buy” rating and set a $200.00 target price (up from $175.00) on shares of Check Point Software Technologies in a research report on Thursday, July 25th. Susquehanna increased their price target on shares of Check Point Software Technologies from $200.00 to $215.00 and gave the stock a “positive” rating in a research note on Thursday, July 25th. Finally, Barclays raised their price objective on shares of Check Point Software Technologies from $175.00 to $192.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 25th. Fifteen analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $190.89.

Check Point Software Technologies Stock Down 0.5 %

Shares of NASDAQ CHKP opened at $205.28 on Tuesday. The stock has a market capitalization of $23.18 billion, a price-to-earnings ratio of 28.51, a price-to-earnings-growth ratio of 3.17 and a beta of 0.62. Check Point Software Technologies Ltd. has a 52 week low of $126.57 and a 52 week high of $210.70. The firm has a 50-day moving average price of $193.56 and a 200 day moving average price of $173.06.

Check Point Software Technologies (NASDAQ:CHKP) last posted its quarterly earnings results on Wednesday, July 24th. The technology company reported $2.17 earnings per share (EPS) for the quarter, beating 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 for the quarter was up 6.6% on a year-over-year basis. During the same period last year, the firm earned $1.74 EPS. Equities research analysts expect that Check Point Software Technologies Ltd. will post 7.83 EPS for the current fiscal year.

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.