Neuberger Berman Group LLC Cuts Stock Position in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Neuberger Berman Group LLC lessened its stake in Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 8.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,040,009 shares of the technology company’s stock after selling 95,474 shares during the period. Neuberger Berman Group LLC owned about 0.76% of Check Point Software Technologies worth $120,484,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Franklin Resources Inc. raised its position in Check Point Software Technologies by 14.5% during the 1st quarter. Franklin Resources Inc. now owns 3,796,298 shares of the technology company’s stock valued at $425,072,000 after purchasing an additional 482,039 shares during the last quarter. Ninety One UK Ltd grew its stake in shares of Check Point Software Technologies by 4.9% in the 2nd quarter. Ninety One UK Ltd now owns 3,196,431 shares of the technology company’s stock worth $371,202,000 after buying an additional 150,429 shares during the last quarter. FIL Ltd grew its stake in shares of Check Point Software Technologies by 164.0% in the 1st quarter. FIL Ltd now owns 2,328,952 shares of the technology company’s stock worth $260,773,000 after buying an additional 1,446,914 shares during the last quarter. Legal & General Group Plc grew its stake in shares of Check Point Software Technologies by 38.0% in the 2nd quarter. Legal & General Group Plc now owns 2,153,698 shares of the technology company’s stock worth $250,108,000 after buying an additional 592,956 shares during the last quarter. Finally, Altrinsic Global Advisors LLC grew its stake in shares of Check Point Software Technologies by 6.3% in the 1st quarter. Altrinsic Global Advisors LLC now owns 1,796,097 shares of the technology company’s stock worth $201,109,000 after buying an additional 106,183 shares during the last quarter. 66.37% of the stock is owned by institutional investors.

CHKP has been the topic of several recent analyst reports. Morgan Stanley increased their target price on Check Point Software Technologies from $110.00 to $114.00 and gave the company an “underweight” rating in a research note on Tuesday, July 27th. The Goldman Sachs Group cut Check Point Software Technologies from a “neutral” rating to a “sell” rating and decreased their target price for the stock from $133.00 to $121.00 in a report on Monday, September 13th. Deutsche Bank Aktiengesellschaft decreased their price target on Check Point Software Technologies from $125.00 to $122.00 and set a “hold” rating on the stock in a report on Monday, July 12th. BMO Capital Markets raised their price target on Check Point Software Technologies from $135.00 to $140.00 and gave the company a “market perform” rating in a report on Tuesday, July 27th. Finally, Wells Fargo & Company started coverage on Check Point Software Technologies in a report on Monday, October 4th. They set an “underweight” rating and a $110.00 price target on the stock. Four research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $132.54.

Shares of Check Point Software Technologies stock opened at $120.96 on Thursday. The firm has a market cap of $16.59 billion, a price-to-earnings ratio of 19.89, a PEG ratio of 2.73 and a beta of 0.65. The business has a 50-day moving average price of $120.54 and a 200-day moving average price of $119.52. Check Point Software Technologies Ltd. has a twelve month low of $109.07 and a twelve month high of $139.26.

Check Point Software Technologies (NASDAQ:CHKP) last released its quarterly earnings results on Sunday, July 25th. The technology company reported $1.61 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.56 by $0.05. The company had revenue of $526.10 million during the quarter, compared to analyst estimates of $523.96 million. Check Point Software Technologies had a return on equity of 25.58% and a net margin of 39.90%. The firm’s revenue was up 4.1% on a year-over-year basis. During the same quarter last year, the business posted $1.58 earnings per share. Sell-side analysts forecast that Check Point Software Technologies Ltd. will post 6.04 earnings per share for the current fiscal year.

About Check Point Software Technologies

Check Point Software Technologies Ltd. engages in the development and market of software and hardware solutions for information technology security. Its products include threat prevention, next generation firewalls, mobile security, and security management. The company was founded by Gil Shwed, Marius Nacht, and Shlomo Kramer in July 1993 and is headquartered in Tel Aviv, Israel.

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

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