Rice Hall James & Associates LLC Trims Position in Check Point Software Technologies Ltd. (CHKP)

Rice Hall James & Associates LLC cut its position in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 5.0% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 9,421 shares of the technology company’s stock after selling 500 shares during the quarter. Rice Hall James & Associates LLC’s holdings in Check Point Software Technologies were worth $1,109,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently modified their holdings of the stock. Millennium Management LLC purchased a new position in Check Point Software Technologies during the first quarter worth $478,000. Royal Bank of Canada increased its position in Check Point Software Technologies by 24.4% during the first quarter. Royal Bank of Canada now owns 161,559 shares of the technology company’s stock worth $16,049,000 after buying an additional 31,726 shares in the last quarter. CIBC World Markets Inc. purchased a new position in Check Point Software Technologies during the first quarter worth $752,000. Dynamic Technology Lab Private Ltd purchased a new position in Check Point Software Technologies during the first quarter worth $487,000. Finally, Alecta Pensionsforsakring Omsesidigt increased its position in Check Point Software Technologies by 2.9% during the second quarter. Alecta Pensionsforsakring Omsesidigt now owns 5,045,000 shares of the technology company’s stock worth $492,644,000 after buying an additional 140,000 shares in the last quarter. 67.10% of the stock is owned by hedge funds and other institutional investors.

Several equities analysts have weighed in on CHKP shares. Zacks Investment Research raised Check Point Software Technologies from a “hold” rating to a “buy” rating and set a $133.00 price target for the company in a research report on Tuesday, September 25th. BTIG Research raised Check Point Software Technologies from a “neutral” rating to a “buy” rating in a research report on Tuesday, July 10th. BidaskClub raised Check Point Software Technologies from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, September 18th. Royal Bank of Canada reissued a “hold” rating and set a $115.00 price target on shares of Check Point Software Technologies in a research report on Thursday, July 26th. Finally, Oppenheimer raised their price target on Check Point Software Technologies from $115.00 to $120.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 24th. Twenty-two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Check Point Software Technologies presently has a consensus rating of “Hold” and an average price target of $115.14.

Shares of NASDAQ:CHKP opened at $106.84 on Tuesday. The firm has a market capitalization of $17.71 billion, a PE ratio of 21.85, a price-to-earnings-growth ratio of 2.16 and a beta of 0.64. Check Point Software Technologies Ltd. has a 52 week low of $93.76 and a 52 week high of $120.81.

Check Point Software Technologies (NASDAQ:CHKP) last announced its quarterly earnings data on Wednesday, October 24th. The technology company reported $1.38 EPS for the quarter, beating the Zacks’ consensus estimate of $1.36 by $0.02. The business had revenue of $470.80 million during the quarter, compared to the consensus estimate of $465.94 million. Check Point Software Technologies had a return on equity of 23.04% and a net margin of 43.35%. The business’s revenue for the quarter was up 3.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.30 earnings per share. As a group, analysts expect that Check Point Software Technologies Ltd. will post 5.18 EPS for the current year.

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 portfolio of network and gateway solutions, management solutions, and data and endpoint security solutions. It provides Check Point Infinity Architecture, a cyber security architecture that protects against 5th generation mega cyber-attacks across various networks, endpoint, cloud, and mobile; security gateways from platforms for small business and small office locations, high end and high demanding data centers, and perimeter environments; and Check Point SandBlast family for threat prevention and zero-day protections.

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Institutional Ownership by Quarter for Check Point Software Technologies (NASDAQ:CHKP)

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