PNC Financial Services Group Inc. Sells 728 Shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP)

PNC Financial Services Group Inc. lowered its position in Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 0.9% in the fourth quarter, HoldingsChannel.com reports. The fund owned 76,557 shares of the technology company’s stock after selling 728 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Check Point Software Technologies were worth $11,697,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Bruce G. Allen Investments LLC bought a new position in Check Point Software Technologies in the 4th quarter valued at $30,000. Salem Investment Counselors Inc. increased its stake in shares of Check Point Software Technologies by 483.7% in the fourth quarter. Salem Investment Counselors Inc. now owns 286 shares of the technology company’s stock valued at $44,000 after buying an additional 237 shares in the last quarter. Allworth Financial LP raised its holdings in shares of Check Point Software Technologies by 305.5% in the third quarter. Allworth Financial LP now owns 369 shares of the technology company’s stock valued at $49,000 after buying an additional 278 shares during the last quarter. Operose Advisors LLC acquired a new position in Check Point Software Technologies during the 3rd quarter worth about $55,000. Finally, Y.D. More Investments Ltd grew its holdings in Check Point Software Technologies by 37.0% during the 4th quarter. Y.D. More Investments Ltd now owns 500 shares of the technology company’s stock worth $76,000 after acquiring an additional 135 shares during the last quarter. 87.62% of the stock is owned by institutional investors and hedge funds.

Check Point Software Technologies Stock Performance

NASDAQ CHKP opened at $153.52 on Thursday. The stock has a market cap of $17.33 billion, a PE ratio of 21.32, a P/E/G ratio of 2.39 and a beta of 0.64. The firm has a 50-day moving average of $158.23 and a 200-day moving average of $155.11. Check Point Software Technologies Ltd. has a 52-week low of $121.53 and a 52-week high of $168.82.

Check Point Software Technologies (NASDAQ:CHKP) last issued its quarterly earnings data on Thursday, April 25th. The technology company reported $1.72 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.72. The company had revenue of $598.80 million during the quarter, compared to analysts’ expectations of $595.28 million. Check Point Software Technologies had a return on equity of 31.42% and a net margin of 34.33%. As a group, analysts predict that Check Point Software Technologies Ltd. will post 7.79 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

CHKP has been the topic of several research analyst reports. Needham & Company LLC reissued a “hold” rating on shares of Check Point Software Technologies in a research note on Friday, April 26th. BMO Capital Markets boosted their price objective on Check Point Software Technologies from $175.00 to $185.00 and gave the stock a “market perform” rating in a report on Wednesday, February 7th. Truist Financial raised their target price on shares of Check Point Software Technologies from $170.00 to $175.00 and gave the company a “buy” rating in a research note on Wednesday, February 7th. Wedbush reissued an “outperform” rating and set a $185.00 price target on shares of Check Point Software Technologies in a research note on Friday, April 26th. Finally, Wells Fargo & Company raised their price objective on shares of Check Point Software Technologies from $132.00 to $162.00 and gave the company an “equal weight” rating in a research note on Monday, January 29th. Thirteen equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $169.18.

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.