Westpac Banking Corp Cuts Stake in Check Point Software Technologies Ltd. (CHKP)

Westpac Banking Corp trimmed its holdings in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 93.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 101,370 shares of the technology company’s stock after selling 1,483,298 shares during the period. Westpac Banking Corp owned about 0.06% of Check Point Software Technologies worth $11,057,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Swiss National Bank boosted its position in Check Point Software Technologies by 33.7% during the second quarter. Swiss National Bank now owns 718,200 shares of the technology company’s stock valued at $78,341,000 after buying an additional 181,000 shares during the period. Bronfman E.L. Rothschild L.P. boosted its position in Check Point Software Technologies by 170.2% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 4,078 shares of the technology company’s stock valued at $445,000 after buying an additional 2,569 shares during the period. Pacad Investment Ltd. purchased a new stake in Check Point Software Technologies during the second quarter valued at about $578,000. Baldwin Investment Management LLC boosted its position in Check Point Software Technologies by 0.7% during the second quarter. Baldwin Investment Management LLC now owns 4,665 shares of the technology company’s stock valued at $509,000 after buying an additional 34 shares during the period. Finally, Keybank National Association OH boosted its position in Check Point Software Technologies by 0.6% during the second quarter. Keybank National Association OH now owns 24,440 shares of the technology company’s stock valued at $2,666,000 after buying an additional 139 shares during the period. Institutional investors and hedge funds own 67.82% of the company’s stock.

Check Point Software Technologies Ltd. (NASDAQ CHKP) opened at 113.00 on Friday. The company has a market cap of $18.46 billion, a P/E ratio of 25.07 and a beta of 0.73. Check Point Software Technologies Ltd. has a 52 week low of $74.34 and a 52 week high of $116.63. The firm’s 50 day moving average is $108.86 and its 200-day moving average is $107.39.

Check Point Software Technologies (NASDAQ:CHKP) last announced its quarterly earnings results on Thursday, July 20th. The technology company reported $1.26 earnings per share for the quarter, topping the consensus estimate of $1.22 by $0.04. Check Point Software Technologies had a net margin of 42.17% and a return on equity of 22.02%. The firm had revenue of $458.60 million during the quarter, compared to analysts’ expectations of $454.62 million. During the same quarter in the prior year, the company earned $1.09 EPS. The company’s revenue was up 8.5% compared to the same quarter last year. On average, analysts predict that Check Point Software Technologies Ltd. will post $5.18 earnings per share for the current fiscal year.

Several analysts have issued reports on CHKP shares. Argus restated a “buy” rating and set a $124.00 price target (up from $115.00) on shares of Check Point Software Technologies in a research report on Tuesday, July 25th. Oppenheimer Holdings, Inc. reiterated an “outperform” rating and set a $128.00 target price on shares of Check Point Software Technologies in a report on Tuesday, August 15th. BMO Capital Markets reiterated a “market perform” rating and set a $115.00 target price (down from $117.00) on shares of Check Point Software Technologies in a report on Friday, July 21st. Credit Suisse Group started coverage on shares of Check Point Software Technologies in a report on Tuesday, September 5th. They set a “neutral” rating and a $110.00 target price for the company. Finally, BidaskClub upgraded shares of Check Point Software Technologies from a “buy” rating to a “strong-buy” rating in a report on Wednesday, July 12th. Seventeen research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Check Point Software Technologies has an average rating of “Hold” and a consensus target price of $110.64.

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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.

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

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