Sandy Spring Bank Reduces Stake in Check Point Software Technologies Ltd. (CHKP)

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Sandy Spring Bank lowered its stake in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 37.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,025 shares of the technology company’s stock after selling 1,225 shares during the period. Sandy Spring Bank’s holdings in Check Point Software Technologies were worth $208,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in CHKP. Oregon Public Employees Retirement Fund raised its holdings in shares of Check Point Software Technologies by 39,495.5% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 3,990,827 shares of the technology company’s stock valued at $39,000 after purchasing an additional 3,980,748 shares during the period. Pendal Group Ltd bought a new stake in shares of Check Point Software Technologies during the fourth quarter worth about $219,063,000. Nordea Investment Management AB bought a new stake in shares of Check Point Software Technologies during the third quarter worth about $197,544,000. Acadian Asset Management LLC increased its position in shares of Check Point Software Technologies by 451.9% during the third quarter. Acadian Asset Management LLC now owns 1,568,795 shares of the technology company’s stock worth $184,596,000 after acquiring an additional 1,284,529 shares in the last quarter. Finally, Pictet Asset Management Ltd. bought a new stake in shares of Check Point Software Technologies during the third quarter worth about $137,032,000. Hedge funds and other institutional investors own 66.84% of the company’s stock.

Several equities research analysts have recently commented on the stock. Guggenheim assumed coverage on shares of Check Point Software Technologies in a research report on Monday, December 10th. They set a “neutral” rating and a $112.00 target price for the company. Evercore ISI reissued a “hold” rating and set a $105.00 target price on shares of Check Point Software Technologies in a research report on Thursday, January 31st. Jefferies Financial Group boosted their target price on shares of Check Point Software Technologies to $140.00 and gave the stock a “buy” rating in a research report on Wednesday, January 30th. Credit Suisse Group reissued a “hold” rating and set a $110.00 target price on shares of Check Point Software Technologies in a research report on Tuesday, January 29th. Finally, ValuEngine raised shares of Check Point Software Technologies from a “hold” rating to a “buy” rating in a research report on Thursday, November 15th. Sixteen equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $116.89.

Shares of CHKP stock opened at $122.76 on Friday. Check Point Software Technologies Ltd. has a 52-week low of $93.76 and a 52-week high of $122.95. The stock has a market capitalization of $20.06 billion, a price-to-earnings ratio of 23.56, a PEG ratio of 2.31 and a beta of 0.76.

Check Point Software Technologies (NASDAQ:CHKP) last issued its quarterly earnings data on Wednesday, January 30th. The technology company reported $1.68 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.63 by $0.05. Check Point Software Technologies had a net margin of 42.85% and a return on equity of 22.77%. The business had revenue of $526.00 million during the quarter, compared to the consensus estimate of $518.03 million. During the same period in the prior year, the firm posted $1.58 EPS. The firm’s quarterly revenue was up 4.0% compared to the same quarter last year. On average, equities analysts predict that Check Point Software Technologies Ltd. will post 5.49 earnings per share for the current fiscal 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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