Sprucegrove Investment Management Ltd. Lowers Stock Position in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Sprucegrove Investment Management Ltd. reduced its stake in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 1.1% during the first quarter, Holdings Channel reports. The institutional investor owned 498,600 shares of the technology company’s stock after selling 5,600 shares during the period. Check Point Software Technologies comprises 1.4% of Sprucegrove Investment Management Ltd.’s holdings, making the stock its 23rd biggest position. Sprucegrove Investment Management Ltd.’s holdings in Check Point Software Technologies were worth $55,828,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. Trustcore Financial Services LLC lifted its position in shares of Check Point Software Technologies by 4.1% during the 4th quarter. Trustcore Financial Services LLC now owns 2,187 shares of the technology company’s stock valued at $291,000 after buying an additional 87 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich lifted its holdings in Check Point Software Technologies by 65.3% in the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 248 shares of the technology company’s stock worth $33,000 after purchasing an additional 98 shares in the last quarter. Baldwin Brothers Inc. MA lifted its holdings in Check Point Software Technologies by 16.5% in the 1st quarter. Baldwin Brothers Inc. MA now owns 827 shares of the technology company’s stock worth $93,000 after purchasing an additional 117 shares in the last quarter. Pzena Investment Management LLC lifted its holdings in Check Point Software Technologies by 2.5% in the 4th quarter. Pzena Investment Management LLC now owns 4,890 shares of the technology company’s stock worth $650,000 after purchasing an additional 118 shares in the last quarter. Finally, Condor Capital Management lifted its holdings in Check Point Software Technologies by 0.4% in the 1st quarter. Condor Capital Management now owns 26,857 shares of the technology company’s stock worth $3,007,000 after purchasing an additional 118 shares in the last quarter. 68.89% of the stock is currently owned by hedge funds and other institutional investors.

CHKP has been the topic of a number of research analyst reports. Zacks Investment Research raised Check Point Software Technologies from a “sell” rating to a “hold” rating and set a $121.00 price target on the stock in a report on Tuesday, April 6th. Cowen initiated coverage on Check Point Software Technologies in a report on Wednesday, May 26th. They issued an “outperform” rating and a $140.00 price target on the stock. Oppenheimer reissued a “market perform” rating on shares of Check Point Software Technologies in a report on Thursday, April 15th. Finally, BMO Capital Markets lowered their price target on Check Point Software Technologies from $140.00 to $135.00 and set a “market perform” rating on the stock in a report on Tuesday, April 27th. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and four have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $131.53.

Shares of NASDAQ CHKP traded up $0.50 during trading hours on Friday, hitting $120.75. 2,001 shares of the company traded hands, compared to its average volume of 1,265,758. The company has a market capitalization of $16.56 billion, a PE ratio of 19.78, a price-to-earnings-growth ratio of 2.68 and a beta of 0.64. The firm’s 50 day moving average is $117.87. Check Point Software Technologies Ltd. has a 12 month low of $103.43 and a 12 month high of $139.26.

Check Point Software Technologies (NASDAQ:CHKP) last released its earnings results on Sunday, April 25th. The technology company reported $1.54 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.50 by $0.04. The firm had revenue of $507.60 million for the quarter, compared to the consensus estimate of $502.92 million. Check Point Software Technologies had a return on equity of 25.69% and a net margin of 40.79%. The company’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.42 EPS. Equities analysts expect that Check Point Software Technologies Ltd. will post 6.02 earnings per share for the current fiscal year.

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 security, endpoint security, data security, and management solutions. It provides Check Point Infinity Architecture, a cyber security architecture that protects against 5th and 6th generation cyber-attacks across various networks, endpoint, cloud, workloads, Internet of Things, and mobile; Check Point Network Security, security gateways and software platforms that support small business and large enterprise data center and telco-grade environment; and Check Point SandBlast family for threat prevention and zero-day protections.

See Also: Net Income

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

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