Check Point Software Technologies Ltd. (NASDAQ:CHKP) Shares Purchased by Argent Trust Co

Argent Trust Co increased its stake in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 24.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,260 shares of the technology company’s stock after buying an additional 2,019 shares during the quarter. Argent Trust Co’s holdings in Check Point Software Technologies were worth $1,693,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the company. Morningstar Investment Services LLC raised its stake in shares of Check Point Software Technologies by 98.5% during the fourth quarter. Morningstar Investment Services LLC now owns 970,634 shares of the technology company’s stock valued at $148,080,000 after purchasing an additional 481,626 shares in the last quarter. Swedbank AB acquired a new position in Check Point Software Technologies in the first quarter worth approximately $69,487,000. Boston Partners increased its holdings in shares of Check Point Software Technologies by 13.1% in the first quarter. Boston Partners now owns 3,623,923 shares of the technology company’s stock valued at $594,169,000 after buying an additional 419,404 shares in the last quarter. Acadian Asset Management LLC raised its position in shares of Check Point Software Technologies by 10.5% during the second quarter. Acadian Asset Management LLC now owns 4,108,685 shares of the technology company’s stock worth $677,869,000 after purchasing an additional 391,983 shares during the period. Finally, Norges Bank acquired a new position in shares of Check Point Software Technologies in the 4th quarter valued at $29,801,000. Institutional investors own 87.62% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on CHKP. JPMorgan Chase & Co. raised their price objective on shares of Check Point Software Technologies from $175.00 to $180.00 and gave the stock a “neutral” rating in a research note on Thursday, July 25th. Jefferies Financial Group lifted their target price on shares of Check Point Software Technologies from $185.00 to $210.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Robert W. Baird upped their price target on shares of Check Point Software Technologies from $168.00 to $200.00 and gave the stock a “neutral” rating in a research note on Thursday, July 25th. Needham & Company LLC reissued a “hold” rating on shares of Check Point Software Technologies in a research report on Thursday, July 25th. Finally, Susquehanna lifted their price target on Check Point Software Technologies from $200.00 to $215.00 and gave the company a “positive” rating in a report on Thursday, July 25th. Sixteen investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $183.68.

Check Point Software Technologies Trading Down 1.4 %

Shares of CHKP opened at $188.99 on Thursday. Check Point Software Technologies Ltd. has a 12 month low of $126.57 and a 12 month high of $195.29. The firm’s 50 day moving average is $183.61 and its 200-day moving average is $167.32. The stock has a market capitalization of $21.34 billion, a PE ratio of 26.25, a P/E/G ratio of 2.96 and a beta of 0.62.

Check Point Software Technologies (NASDAQ:CHKP) last released its earnings results on Wednesday, July 24th. The technology company reported $2.17 earnings per share for the quarter, beating analysts’ consensus estimates of $2.16 by $0.01. Check Point Software Technologies had a return on equity of 31.59% and a net margin of 33.61%. The firm had revenue of $627.40 million during the quarter, compared to the consensus estimate of $623.19 million. During the same period in the prior year, the company posted $1.74 EPS. The company’s revenue was up 6.6% compared to the same quarter last year. Equities research analysts predict that Check Point Software Technologies Ltd. will post 7.83 earnings per share for the current fiscal 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 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.