Check Point Software Technologies Ltd. (CHKP) Stake Lessened by United Services Automobile Association

United Services Automobile Association decreased its position in Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 14.9% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 486,752 shares of the technology company’s stock after selling 85,017 shares during the period. United Services Automobile Association’s holdings in Check Point Software Technologies were worth $57,276,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of CHKP. Flossbach Von Storch AG grew its holdings in shares of Check Point Software Technologies by 1,455.9% in the second quarter. Flossbach Von Storch AG now owns 2,486,903 shares of the technology company’s stock worth $242,921,000 after purchasing an additional 2,327,068 shares during the last quarter. Acadian Asset Management LLC grew its holdings in shares of Check Point Software Technologies by 451.9% in the third quarter. Acadian Asset Management LLC now owns 1,568,795 shares of the technology company’s stock worth $184,596,000 after purchasing an additional 1,284,529 shares during the last quarter. Pictet Asset Management Ltd. bought a new position in shares of Check Point Software Technologies in the third quarter worth approximately $137,032,000. Ontario Teachers Pension Plan Board bought a new position in shares of Check Point Software Technologies in the third quarter worth approximately $76,215,000. Finally, Alliancebernstein L.P. grew its holdings in shares of Check Point Software Technologies by 124.5% in the third quarter. Alliancebernstein L.P. now owns 996,656 shares of the technology company’s stock worth $117,277,000 after purchasing an additional 552,754 shares during the last quarter. Hedge funds and other institutional investors own 64.41% of the company’s stock.

Several research analysts have recently issued reports on CHKP shares. BidaskClub cut shares of Check Point Software Technologies from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 3rd. Zacks Investment Research upgraded shares of Check Point Software Technologies from a “hold” rating to a “buy” rating and set a $133.00 target price on the stock in a report on Tuesday, September 25th. ValuEngine upgraded shares of Check Point Software Technologies from a “hold” rating to a “buy” rating in a report on Thursday, November 15th. Morgan Stanley cut their price target on shares of Check Point Software Technologies from $116.00 to $115.00 and set an “equal weight” rating on the stock in a report on Thursday, October 25th. Finally, BMO Capital Markets cut their price target on shares of Check Point Software Technologies to $120.00 and set a “market perform” rating on the stock in a report on Friday, October 26th. Eighteen analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $115.33.

Shares of CHKP stock opened at $111.81 on Friday. Check Point Software Technologies Ltd. has a 12 month low of $93.76 and a 12 month high of $120.81. The firm has a market cap of $18.04 billion, a PE ratio of 22.87, a price-to-earnings-growth ratio of 2.19 and a beta of 0.68.

Check Point Software Technologies (NASDAQ:CHKP) last announced its earnings results 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. Check Point Software Technologies had a net margin of 43.35% and a return on equity of 23.04%. The firm had revenue of $470.80 million for the quarter, compared to analysts’ expectations of $465.94 million. During the same quarter in the previous year, the business posted $1.30 EPS. The company’s quarterly revenue was up 3.5% on a year-over-year basis. On average, sell-side analysts forecast that Check Point Software Technologies Ltd. will post 5.2 earnings per share for the current year.

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Check Point Software Technologies Company Profile

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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