AMP Capital Investors Ltd Cuts Holdings in Check Point Software Technologies Ltd. (CHKP)

AMP Capital Investors Ltd lessened its holdings in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 1.9% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 61,701 shares of the technology company’s stock after selling 1,213 shares during the quarter. AMP Capital Investors Ltd’s holdings in Check Point Software Technologies were worth $7,287,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Martin Investment Management LLC boosted its position in Check Point Software Technologies by 0.4% during the second quarter. Martin Investment Management LLC now owns 117,502 shares of the technology company’s stock worth $11,478,000 after purchasing an additional 459 shares during the period. Tower Bridge Advisors boosted its position in shares of Check Point Software Technologies by 0.9% in the second quarter. Tower Bridge Advisors now owns 58,181 shares of the technology company’s stock valued at $5,683,000 after acquiring an additional 500 shares during the period. CIBC Asset Management Inc boosted its position in shares of Check Point Software Technologies by 3.0% in the second quarter. CIBC Asset Management Inc now owns 18,062 shares of the technology company’s stock valued at $1,764,000 after acquiring an additional 518 shares during the period. Ferguson Wellman Capital Management Inc. boosted its position in shares of Check Point Software Technologies by 0.7% in the third quarter. Ferguson Wellman Capital Management Inc. now owns 74,915 shares of the technology company’s stock valued at $8,815,000 after acquiring an additional 530 shares during the period. Finally, Steward Partners Investment Advisory LLC boosted its position in shares of Check Point Software Technologies by 34.0% in the third quarter. Steward Partners Investment Advisory LLC now owns 2,267 shares of the technology company’s stock valued at $267,000 after acquiring an additional 575 shares during the period. Hedge funds and other institutional investors own 66.83% of the company’s stock.

CHKP has been the subject of a number of analyst reports. BidaskClub lowered shares of Check Point Software Technologies from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 3rd. ValuEngine upgraded shares of Check Point Software Technologies from a “hold” rating to a “buy” rating in a research report on Thursday, November 15th. Robert W. Baird restated a “neutral” rating on shares of Check Point Software Technologies in a research report on Thursday, October 18th. Zacks Investment Research upgraded shares of Check Point Software Technologies from a “hold” rating to a “buy” rating and set a $133.00 price objective for the company in a research report on Tuesday, September 25th. Finally, Morgan Stanley cut their price objective on shares of Check Point Software Technologies from $116.00 to $115.00 and set an “equal weight” rating for the company in a research report on Thursday, October 25th. Eighteen research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $115.33.

Shares of CHKP opened at $106.28 on Friday. The company has a market capitalization of $18.01 billion, a P/E ratio of 21.73, a P/E/G ratio of 2.19 and a beta of 0.66. Check Point Software Technologies Ltd. has a 1-year low of $93.76 and a 1-year high of $120.81.

Check Point Software Technologies (NASDAQ:CHKP) last announced its earnings results on Wednesday, October 24th. The technology company reported $1.38 earnings per share for the quarter, beating analysts’ consensus estimates of $1.36 by $0.02. The business had revenue of $470.80 million for the quarter, compared to the consensus estimate of $465.94 million. Check Point Software Technologies had a net margin of 43.35% and a return on equity of 23.04%. Check Point Software Technologies’s quarterly revenue was up 3.5% on a year-over-year basis. During the same period last year, the firm posted $1.30 earnings per share. As a group, equities analysts anticipate that Check Point Software Technologies Ltd. will post 5.2 EPS for the current fiscal year.

TRADEMARK VIOLATION WARNING: This piece of content was first published by American Banking News and is owned by of American Banking News. If you are viewing this piece of content on another site, it was stolen and reposted in violation of US and international copyright law. The original version of this piece of content can be viewed at https://www.americanbankingnews.com/2018/12/08/amp-capital-investors-ltd-cuts-holdings-in-check-point-software-technologies-ltd-chkp.html.

About Check Point Software Technologies

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 and gateway solutions, management solutions, and data and endpoint security solutions. It provides Check Point Infinity Architecture, a cyber security architecture that protects against 5th generation mega cyber-attacks across various networks, endpoint, cloud, and mobile; security gateways from platforms for small business and small office locations, high end and high demanding data centers, and perimeter environments; and Check Point SandBlast family for threat prevention and zero-day protections.

Recommended Story: What is a Futures Contract?

Want to see what other hedge funds are holding CHKP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Check Point Software Technologies Ltd. (NASDAQ:CHKP).

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

Receive News & Ratings for Check Point Software Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Check Point Software Technologies and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply