Huntington National Bank Trims Stock Position in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Huntington National Bank lessened its holdings in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 3.8% in the 2nd quarter, HoldingsChannel reports. The firm owned 10,823 shares of the technology company’s stock after selling 428 shares during the quarter. Huntington National Bank’s holdings in Check Point Software Technologies were worth $1,163,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of the stock. Massachusetts Financial Services Co. MA raised its holdings in shares of Check Point Software Technologies by 2.9% during the first quarter. Massachusetts Financial Services Co. MA now owns 9,558,499 shares of the technology company’s stock worth $961,012,000 after purchasing an additional 271,150 shares during the last quarter. Franklin Resources Inc. raised its holdings in shares of Check Point Software Technologies by 2.7% during the first quarter. Franklin Resources Inc. now owns 4,262,263 shares of the technology company’s stock worth $428,527,000 after purchasing an additional 112,451 shares during the last quarter. State Street Corp raised its holdings in shares of Check Point Software Technologies by 12.1% during the first quarter. State Street Corp now owns 2,895,886 shares of the technology company’s stock worth $291,152,000 after purchasing an additional 312,165 shares during the last quarter. APG Asset Management N.V. raised its holdings in shares of Check Point Software Technologies by 1,144.8% during the first quarter. APG Asset Management N.V. now owns 2,235,672 shares of the technology company’s stock worth $251,850,000 after purchasing an additional 2,056,064 shares during the last quarter. Finally, Atlanta Capital Management Co. L L C raised its holdings in shares of Check Point Software Technologies by 6.0% during the first quarter. Atlanta Capital Management Co. L L C now owns 1,599,530 shares of the technology company’s stock worth $160,817,000 after purchasing an additional 90,229 shares during the last quarter. 68.38% of the stock is owned by hedge funds and other institutional investors.

CHKP traded up $1.81 on Friday, reaching $125.35. 1,189,859 shares of the company’s stock were exchanged, compared to its average volume of 1,226,689. The stock has a market cap of $18.23 billion, a PE ratio of 21.54, a P/E/G ratio of 2.89 and a beta of 0.62. Check Point Software Technologies Ltd. has a twelve month low of $80.06 and a twelve month high of $130.65. The stock’s fifty day moving average price is $113.85 and its 200-day moving average price is $108.33.

Check Point Software Technologies (NASDAQ:CHKP) last posted its quarterly earnings results on Wednesday, July 22nd. The technology company reported $1.58 earnings per share for the quarter, topping analysts’ consensus estimates of $1.44 by $0.14. The firm had revenue of $505.60 million for the quarter, compared to analyst estimates of $486.35 million. Check Point Software Technologies had a net margin of 41.21% and a return on equity of 24.29%. During the same period in the previous year, the business posted $1.38 earnings per share. Analysts expect that Check Point Software Technologies Ltd. will post 5.91 EPS for the current year.

CHKP has been the subject of a number of recent analyst reports. Credit Suisse Group lifted their price objective on shares of Check Point Software Technologies from $110.00 to $125.00 and gave the company a “neutral” rating in a report on Thursday, July 23rd. BTIG Research lifted their price objective on shares of Check Point Software Technologies from $122.00 to $143.00 in a report on Thursday, July 23rd. Cowen cut their price objective on shares of Check Point Software Technologies from $115.00 to $100.00 and set a “market perform” rating for the company in a report on Tuesday, April 21st. Zacks Investment Research raised shares of Check Point Software Technologies from a “sell” rating to a “hold” rating and set a $125.00 price objective for the company in a report on Friday, July 10th. Finally, Morgan Stanley lifted their price objective on shares of Check Point Software Technologies from $96.00 to $105.00 and gave the company an “underweight” rating in a report on Thursday, July 23rd. Four research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and four have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $118.35.

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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