Trading Report: The Independent Portfolio Consultants Inc. Buys Shares of 1,615 Check Point Software Technologies Ltd. (CHKP)

The Independent Portfolio Consultants Inc. Buys Shares of 1,615 Check Point Software Technologies Ltd. (CHKP)

Independent Portfolio Consultants Inc. acquired a new position in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 1,615 shares of the company’s stock, valued at approximately $125,000.

Several other institutional investors have also recently made changes to their positions in CHKP. Alecta Pensionsforsakring Omsesidigt boosted its position in shares of Check Point Software Technologies by 59.9% in the second quarter. Alecta Pensionsforsakring Omsesidigt now owns 3,325,000 shares of the company’s stock worth $264,936,000 after buying an additional 1,246,000 shares in the last quarter. Vulcan Value Partners LLC boosted its position in shares of Check Point Software Technologies by 111.9% in the second quarter. Vulcan Value Partners LLC now owns 2,206,298 shares of the company’s stock worth $175,798,000 after buying an additional 1,165,059 shares in the last quarter. TIAA CREF Investment Management LLC boosted its position in shares of Check Point Software Technologies by 210.9% in the second quarter. TIAA CREF Investment Management LLC now owns 1,336,452 shares of the company’s stock worth $106,488,000 after buying an additional 906,649 shares in the last quarter. State Street Corp boosted its position in shares of Check Point Software Technologies by 51.1% in the second quarter. State Street Corp now owns 2,171,301 shares of the company’s stock worth $173,020,000 after buying an additional 734,553 shares in the last quarter. Finally, FMR LLC boosted its position in shares of Check Point Software Technologies by 17.8% in the second quarter. FMR LLC now owns 4,170,635 shares of the company’s stock worth $332,316,000 after buying an additional 629,802 shares in the last quarter. 71.87% of the stock is currently owned by institutional investors.

Shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP) traded up 0.24% on Friday, hitting $83.23. The stock had a trading volume of 327,752 shares. The company has a market cap of $14.08 billion, a P/E ratio of 20.98 and a beta of 0.91. The company’s 50 day moving average price is $80.92 and its 200-day moving average price is $79.81. Check Point Software Technologies Ltd. has a 12 month low of $71.64 and a 12 month high of $89.98.

Check Point Software Technologies (NASDAQ:CHKP) last released its quarterly earnings data on Monday, October 31st. The company reported $1.13 EPS for the quarter, topping the consensus estimate of $1.08 by $0.05. The company had revenue of $428 million for the quarter, compared to the consensus estimate of $422.79 million. Check Point Software Technologies had a return on equity of 20.32% and a net margin of 40.73%. Check Point Software Technologies’s quarterly revenue was up 5.9% on a year-over-year basis. During the same period last year, the business posted $1.04 EPS. On average, analysts expect that Check Point Software Technologies Ltd. will post $4.52 earnings per share for the current year.

A number of equities analysts recently weighed in on CHKP shares. Zacks Investment Research raised Check Point Software Technologies from a “sell” rating to a “hold” rating in a report on Tuesday, September 27th. Guggenheim started coverage on Check Point Software Technologies in a research note on Wednesday, September 14th. They issued a “neutral” rating on the stock. Wunderlich started coverage on Check Point Software Technologies in a research note on Tuesday, September 13th. They issued a “hold” rating and a $80.00 price target on the stock. Deutsche Bank AG reaffirmed a “hold” rating on shares of Check Point Software Technologies in a research note on Saturday, October 15th. Finally, Robert W. Baird started coverage on Check Point Software Technologies in a research note on Tuesday, August 23rd. They issued a “neutral” rating and a $83.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and twelve have issued a buy rating to the stock. Check Point Software Technologies has a consensus rating of “Hold” and an average price target of $90.21.

Check Point Software Technologies Company Profile

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.

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