Tdam USA Inc. Lowers Stock Position in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Tdam USA Inc. reduced its stake in Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 4.2% during the second quarter, HoldingsChannel reports. The firm owned 23,622 shares of the technology company’s stock after selling 1,027 shares during the period. Tdam USA Inc.’s holdings in Check Point Software Technologies were worth $2,731,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in CHKP. Dimensional Fund Advisors LP boosted its position in shares of Check Point Software Technologies by 79.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,364 shares of the technology company’s stock worth $448,000 after buying an additional 1,933 shares during the period. Principal Financial Group Inc. raised its holdings in Check Point Software Technologies by 1.4% during the fourth quarter. Principal Financial Group Inc. now owns 9,600 shares of the technology company’s stock worth $985,000 after purchasing an additional 134 shares in the last quarter. Geode Capital Management LLC raised its holdings in Check Point Software Technologies by 9.3% during the fourth quarter. Geode Capital Management LLC now owns 575,429 shares of the technology company’s stock worth $58,985,000 after purchasing an additional 48,959 shares in the last quarter. Pennsylvania Trust Co raised its holdings in Check Point Software Technologies by 28.3% during the first quarter. Pennsylvania Trust Co now owns 5,774 shares of the technology company’s stock worth $612,000 after purchasing an additional 1,274 shares in the last quarter. Finally, Weatherstone Capital Management raised its holdings in Check Point Software Technologies by 3.2% during the first quarter. Weatherstone Capital Management now owns 2,874 shares of the technology company’s stock worth $364,000 after purchasing an additional 88 shares in the last quarter. 71.08% of the stock is currently owned by institutional investors and hedge funds.

CHKP has been the topic of several recent analyst reports. Robert W. Baird reissued a “hold” rating and set a $120.00 target price on shares of Check Point Software Technologies in a report on Wednesday, July 24th. Evercore ISI set a $105.00 target price on Check Point Software Technologies and gave the stock a “hold” rating in a report on Wednesday, July 24th. Northland Securities reissued a “neutral” rating on shares of Check Point Software Technologies in a report on Thursday, July 25th. Cowen initiated coverage on Check Point Software Technologies in a report on Thursday, May 23rd. They set a “market perform” rating and a $120.00 target price on the stock. Finally, OTR Global cut Check Point Software Technologies to a “positive” rating in a report on Tuesday, July 16th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and five have issued a buy rating to the stock. Check Point Software Technologies currently has an average rating of “Hold” and an average price target of $124.47.



Shares of NASDAQ CHKP traded down $3.44 during trading on Wednesday, hitting $107.18. The company had a trading volume of 34,534 shares, compared to its average volume of 961,722. The company has a market cap of $16.84 billion, a P/E ratio of 20.73, a P/E/G ratio of 2.29 and a beta of 0.79. Check Point Software Technologies Ltd. has a 52 week low of $98.57 and a 52 week high of $132.76. The firm has a 50-day moving average of $114.93.

Check Point Software Technologies (NASDAQ:CHKP) last posted its quarterly earnings results on Wednesday, July 24th. The technology company reported $1.38 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.24 by $0.14. The company had revenue of $488.10 million for the quarter, compared to analysts’ expectations of $487.53 million. Check Point Software Technologies had a return on equity of 22.05% and a net margin of 40.99%. The firm’s revenue was up 4.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.37 earnings per share. As a group, analysts anticipate that Check Point Software Technologies Ltd. will post 5.49 earnings per share 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.

Further Reading: Are sell-side analysts objective?

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

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