PNC Financial Services Group Inc. reduced its position in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 76.7% during the third quarter, Holdings Channel reports. The firm owned 316,896 shares of the company’s stock after selling 1,043,262 shares during the period. PNC Financial Services Group Inc.’s holdings in Check Point Software Technologies were worth $24,594,000 as of its most recent filing with the SEC.

Other institutional investors have also recently added to or reduced their stakes in the company. J.Safra Asset Management Corp bought a new position in shares of Check Point Software Technologies during the second quarter worth $112,000. Financial Architects Inc increased its stake in Check Point Software Technologies by 95.3% in the third quarter. Financial Architects Inc now owns 1,500 shares of the company’s stock worth $117,000 after buying an additional 732 shares during the period. Independent Portfolio Consultants Inc. acquired a new stake in Check Point Software Technologies during the third quarter worth $125,000. Trust Co. of Vermont increased its stake in Check Point Software Technologies by 3.6% in the second quarter. Trust Co. of Vermont now owns 1,855 shares of the company’s stock worth $148,000 after buying an additional 65 shares during the period. Finally, Invictus RG increased its stake in Check Point Software Technologies by 10.3% in the second quarter. Invictus RG now owns 1,884 shares of the company’s stock worth $150,000 after buying an additional 176 shares during the period. Hedge funds and other institutional investors own 71.38% of the company’s stock.

Institutional Ownership by Quarter for Check Point Software Technologies (NASDAQ:CHKP)

Check Point Software Technologies Ltd. (NASDAQ:CHKP) traded down 0.75% during trading on Tuesday, reaching $81.91. 557,605 shares of the company were exchanged. Check Point Software Technologies Ltd. has a one year low of $71.64 and a one year high of $89.98. The firm’s 50 day moving average price is $81.05 and its 200-day moving average price is $79.79. The stock has a market capitalization of $13.85 billion, a price-to-earnings ratio of 20.65 and a beta of 0.91.

Check Point Software Technologies (NASDAQ:CHKP) last announced its quarterly earnings data on Monday, October 31st. The company reported $1.13 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.08 by $0.05. Check Point Software Technologies had a return on equity of 20.32% and a net margin of 40.73%. The business had revenue of $428 million for the quarter, compared to analysts’ expectations of $422.79 million. During the same period in the previous year, the business posted $1.04 EPS. The firm’s quarterly revenue was up 5.9% compared to the same quarter last year. On average, equities research analysts predict that Check Point Software Technologies Ltd. will post $4.52 earnings per share for the current year.

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A number of equities research analysts recently weighed in on CHKP shares. Oppenheimer Holdings Inc. reissued an “outperform” rating and set a $94.00 price target on shares of Check Point Software Technologies in a research note on Monday, October 10th. Robert W. Baird started coverage on shares of Check Point Software Technologies in a research note on Tuesday, August 23rd. They set a “neutral” rating and a $83.00 price target for the company. Piper Jaffray Cos. started coverage on shares of Check Point Software Technologies in a research note on Wednesday, September 28th. They set an “overweight” rating and a $95.00 price target for the company. Wells Fargo & Co. reissued a “market perform” rating on shares of Check Point Software Technologies in a research note on Monday, September 26th. Finally, William Blair reissued an “outperform” rating on shares of Check Point Software Technologies in a research note on Tuesday, November 1st. Two analysts have rated the stock with a sell rating, fifteen have issued a hold rating and twelve have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $90.21.

About Check Point Software Technologies

Check Point Software Technologies Ltd. (Check point) develops, markets and supports a range of products and services for information technology (IT) security. The Company’s products and services are sold to enterprises, service providers, small and medium sized businesses and consumers. It offers enterprises a platform to deploy independent, modular and interoperable security applications (Software Blades), such as firewall, virtual private network (VPN), intrusion prevention system (IPS), Application Control, Anti-Bot, antivirus, data loss prevention (DLP), policy management, event analysis or multi-domain management.

5 Day Chart for NASDAQ:CHKP

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