PNC Financial Services Group Inc. Decreases Stock Holdings in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

PNC Financial Services Group Inc. lessened its stake in Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 2.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 73,224 shares of the technology company’s stock after selling 2,125 shares during the period. PNC Financial Services Group Inc.’s holdings in Check Point Software Technologies were worth $14,118,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the company. Banque Cantonale Vaudoise increased its position in shares of Check Point Software Technologies by 1.4% during the third quarter. Banque Cantonale Vaudoise now owns 13,981 shares of the technology company’s stock worth $2,696,000 after purchasing an additional 196 shares in the last quarter. Bruni J V & Co. Co. increased its position in Check Point Software Technologies by 103.4% during the 3rd quarter. Bruni J V & Co. Co. now owns 117,344 shares of the technology company’s stock valued at $22,625,000 after buying an additional 59,646 shares in the last quarter. Caprock Group LLC increased its position in Check Point Software Technologies by 3.4% during the 3rd quarter. Caprock Group LLC now owns 4,225 shares of the technology company’s stock valued at $815,000 after buying an additional 138 shares in the last quarter. Pathstone Holdings LLC raised its stake in Check Point Software Technologies by 138.3% in the third quarter. Pathstone Holdings LLC now owns 19,232 shares of the technology company’s stock valued at $3,708,000 after buying an additional 11,160 shares during the last quarter. Finally, Natixis Advisors LLC grew its stake in shares of Check Point Software Technologies by 6.1% during the third quarter. Natixis Advisors LLC now owns 49,726 shares of the technology company’s stock worth $9,588,000 after acquiring an additional 2,876 shares during the last quarter. 87.62% of the stock is currently owned by institutional investors.

Check Point Software Technologies Stock Down 0.1 %

CHKP stock opened at $181.75 on Friday. Check Point Software Technologies Ltd. has a 52-week low of $143.28 and a 52-week high of $210.70. The firm has a market cap of $19.99 billion, a P/E ratio of 24.83, a PEG ratio of 2.97 and a beta of 0.63. The company’s 50-day simple moving average is $190.21 and its 200-day simple moving average is $177.00.

Check Point Software Technologies (NASDAQ:CHKP) last issued its quarterly earnings results on Tuesday, October 29th. The technology company reported $2.25 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $2.25. The company had revenue of $635.10 million for the quarter, compared to the consensus estimate of $634.96 million. Check Point Software Technologies had a return on equity of 31.84% and a net margin of 33.17%. Check Point Software Technologies’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.80 earnings per share. On average, analysts anticipate that Check Point Software Technologies Ltd. will post 7.87 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently commented on CHKP shares. Barclays decreased their price objective on shares of Check Point Software Technologies from $210.00 to $200.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 29th. Robert W. Baird lowered their price objective on shares of Check Point Software Technologies from $210.00 to $205.00 and set a “neutral” rating for the company in a research note on Wednesday, October 30th. Truist Financial boosted their price objective on shares of Check Point Software Technologies from $200.00 to $220.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Evercore ISI lifted their price target on Check Point Software Technologies from $180.00 to $185.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 30th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $187.00 price objective on shares of Check Point Software Technologies in a report on Wednesday, October 30th. Fifteen research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the stock 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.