Check Point Software Technologies (CHKP) Position Reduced by Colonial Trust Advisors

Colonial Trust Advisors decreased its position in Check Point Software Technologies (NASDAQ:CHKP) by 25.4% in the first quarter, HoldingsChannel.com reports. The firm owned 40,811 shares of the technology company’s stock after selling 13,892 shares during the period. Colonial Trust Advisors’ holdings in Check Point Software Technologies were worth $4,054,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the business. Elmwood Wealth Management Inc. purchased a new stake in Check Point Software Technologies in the 1st quarter worth approximately $743,000. Mcrae Capital Management Inc. lifted its position in Check Point Software Technologies by 1.3% in the 1st quarter. Mcrae Capital Management Inc. now owns 75,855 shares of the technology company’s stock worth $7,535,000 after buying an additional 1,000 shares in the last quarter. Sather Financial Group Inc lifted its position in Check Point Software Technologies by 2.0% in the 1st quarter. Sather Financial Group Inc now owns 91,835 shares of the technology company’s stock worth $9,123,000 after buying an additional 1,795 shares in the last quarter. Northwest Bancshares Inc. purchased a new stake in Check Point Software Technologies in the 1st quarter worth approximately $3,518,000. Finally, Oppenheimer Asset Management Inc. lifted its position in Check Point Software Technologies by 3.5% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 95,786 shares of the technology company’s stock worth $9,515,000 after buying an additional 3,238 shares in the last quarter. Institutional investors own 66.25% of the company’s stock.

A number of research firms have issued reports on CHKP. BidaskClub downgraded shares of Check Point Software Technologies from a “hold” rating to a “sell” rating in a research report on Thursday, May 17th. ValuEngine downgraded shares of Check Point Software Technologies from a “hold” rating to a “sell” rating in a research report on Wednesday, May 16th. Argus downgraded shares of Check Point Software Technologies from a “buy” rating to a “hold” rating and increased their target price for the stock from $119.20 to $124.00 in a research report on Wednesday, May 9th. Zacks Investment Research downgraded shares of Check Point Software Technologies from a “hold” rating to a “sell” rating in a research report on Friday, April 27th. Finally, Jefferies Group cut their target price on shares of Check Point Software Technologies to $117.00 and set a “buy” rating for the company in a research report on Thursday, April 26th. Three investment analysts have rated the stock with a sell rating, twenty-three have assigned a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $109.99.

Check Point Software Technologies stock opened at $96.97 on Tuesday. The firm has a market cap of $15.64 billion, a PE ratio of 19.21, a price-to-earnings-growth ratio of 1.94 and a beta of 0.66. Check Point Software Technologies has a 1-year low of $93.76 and a 1-year high of $119.20.

Check Point Software Technologies (NASDAQ:CHKP) last announced its earnings results on Wednesday, April 25th. The technology company reported $1.30 EPS for the quarter, topping the consensus estimate of $1.28 by $0.02. The firm had revenue of $452.30 million for the quarter, compared to the consensus estimate of $452.13 million. Check Point Software Technologies had a net margin of 43.15% and a return on equity of 22.83%. The business’s quarterly revenue was up 3.9% on a year-over-year basis. During the same quarter last year, the firm posted $1.20 EPS. sell-side analysts forecast that Check Point Software Technologies will post 5.11 earnings per share for the current fiscal year.

About Check Point Software Technologies

Check Point Software Technologies Ltd. provides hardware and software products and services for IT security worldwide. The company offers a portfolio of network security, endpoint security, data security, and management solutions. It provides security gateways to protect the networks and prevent the threats of enterprises, data centers, and small and large branch offices; security gateway appliances, including platforms for small business and small office locations, high end and high demanding data centers, and perimeter environments; and security management software, which offers security management through a single console that streamlines security operations and provides visibility into policy administration and threat analysis.

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

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