Comerica Bank sells 344 shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP)


Comerica Bank reduced its stake in Check Point Software Technologies Ltd. (NASDAQ:CHKPGet a rating) by 2.9% in Q1, according to the company in its latest filing with the Securities and Exchange Commission. The institutional investor held 11,570 shares of the technology company after selling 344 shares during the period. Comerica Bank’s holdings in Check Point Software Technologies were worth $1,659,000 when it last filed with the Securities and Exchange Commission.

Several other hedge funds have also recently changed their positions in CHKP. Allspring Global Investments Holdings LLC bought a new stock position in Check Point Software Technologies in Q4 for a value of approximately $66,202,000. Nordea Investment Management AB increased its stake in shares of Check Point Software Technologies by 11.7% in the 1st quarter. Nordea Investment Management AB now owns 3,303,458 shares of the technology company valued at $459,379,000 after purchasing an additional 345,565 shares during the period. Sumitomo Mitsui Trust Holdings Inc. acquired a new equity stake in Check Point Software Technologies in Q1 valued at approximately $43,916,000. Clal Insurance Enterprises Holdings Ltd increased its stake in shares of Check Point Software Technologies by 161.3% in the 4th quarter. Clal Insurance Enterprises Holdings Ltd now owns 405,000 shares of the technology company valued at $47,207,000 after purchasing an additional 250,000 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Check Point Software Technologies by 48.4% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 630,942 shares of the technology company valued at $73,543,000 after purchasing an additional 205,681 shares during the period. 91.96% of the shares are held by institutional investors.

Check Point Software Technologies stock drops 0.9%

Action Check Point Software Technologies opened at $127.68 on Tuesday. Check Point Software Technologies Ltd. has a 52-week low of $107.85 and a 52-week high of $149.62. The company’s 50-day moving average price is $123.84 and its two-hundred-day moving average price is $129.43. The stock has a market capitalization of $16.48 billion, a P/E ratio of 21.07, a P/E/G ratio of 2.85 and a beta of 0.62.

Check Point software technologies (NASDAQ:CHKPGet a rating) last released its quarterly results on Wednesday, April 27. The tech company reported EPS of $1.34 for the quarter, missing analyst consensus estimates of $1.35 per ($0.01). The company posted revenue of $542.70 million in the quarter, versus a consensus estimate of $535.57 million. Check Point Software Technologies achieved a return on equity of 25.35% and a net margin of 36.43%. The company’s revenue for the quarter increased 6.9% compared to the same quarter last year. During the same period last year, the company posted EPS of $1.39. On average, stock analysts expect Check Point Software Technologies Ltd. will post an EPS of 6.18 for the current year.

Wall Street analysts predict growth

Several brokerages have recently commented on CHKP. Barclays reduced its target price on Check Point Software Technologies from $160.00 to $145.00 in a Thursday, April 28 research note. Wedbush raised its price target on Check Point Software Technologies from $142.00 to $155.00 and gave the company an “outperform” rating in a Thursday, April 14 research note. Summit Insights began covering Check Point Software Technologies in a research note on Thursday, March 31. They issued a “buy” rating and a target price of $160.00 for the company. Wells Fargo & Company reduced its price target on Check Point Software Technologies from $144.00 to $130.00 in a Thursday, April 28 research note. To finish, StockNews.com began covering Check Point Software Technologies in a research note on Thursday, March 31. They set a “buy” rating for the company. Six equity research analysts gave the stock a sell rating, four issued a hold rating and eight gave the stock a buy rating. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $139.00.

About Check Point Software Technologies

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Check Point Software Technologies Ltd. develops, markets and supports a range of IT security products and services worldwide. The company offers a portfolio of network security, endpoint security, data security and management solutions. It provides the Check Point Infinity Architecture, a cybersecurity architecture that protects against 5th and 6th generation cyberattacks across various networks, endpoints, cloud, workloads, IoT, and mobile.

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Institutional ownership by quarter for Check Point Software Technologies (NASDAQ:CHKP)



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