Edgestream Partners L.P. Decreases Stake in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Edgestream Partners L.P. cut its position in Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 71.9% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,479 shares of the technology company’s stock after selling 6,334 shares during the period. Edgestream Partners L.P.’s holdings in Check Point Software Technologies were worth $270,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its position in Check Point Software Technologies by 1.4% in the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,425 shares of the technology company’s stock valued at $151,000 after purchasing an additional 20 shares in the last quarter. Gateway Investment Advisers LLC grew its position in Check Point Software Technologies by 1.3% in the second quarter. Gateway Investment Advisers LLC now owns 2,407 shares of the technology company’s stock valued at $263,000 after purchasing an additional 31 shares in the last quarter. Baldwin Investment Management LLC grew its position in Check Point Software Technologies by 0.7% in the second quarter. Baldwin Investment Management LLC now owns 4,665 shares of the technology company’s stock valued at $509,000 after purchasing an additional 34 shares in the last quarter. IFP Advisors Inc grew its position in Check Point Software Technologies by 2.4% in the first quarter. IFP Advisors Inc now owns 1,513 shares of the technology company’s stock valued at $155,000 after purchasing an additional 36 shares in the last quarter. Finally, Trust Co. of Vermont grew its position in Check Point Software Technologies by 2.2% in the second quarter. Trust Co. of Vermont now owns 1,814 shares of the technology company’s stock valued at $198,000 after purchasing an additional 39 shares in the last quarter. 67.82% of the stock is owned by institutional investors.

A number of analysts have commented on CHKP shares. BidaskClub cut shares of Check Point Software Technologies from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 5th. Piper Jaffray Companies set a $108.00 price target on shares of Check Point Software Technologies and gave the company a “hold” rating in a research note on Friday, August 25th. Cowen and Company reiterated a “buy” rating and issued a $113.00 price target on shares of Check Point Software Technologies in a research note on Friday, September 8th. Citigroup Inc. increased their price target on shares of Check Point Software Technologies from $109.00 to $111.00 and gave the company a “neutral” rating in a research note on Thursday, May 25th. Finally, Evercore ISI set a $100.00 price target on shares of Check Point Software Technologies and gave the company a “hold” rating in a research note on Friday, August 11th. Seventeen analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Check Point Software Technologies presently has a consensus rating of “Hold” and a consensus price target of $110.64.

Shares of Check Point Software Technologies Ltd. (NASDAQ CHKP) traded down 0.12% during midday trading on Friday, hitting $112.62. 354,948 shares of the company traded hands. Check Point Software Technologies Ltd. has a 52 week low of $74.34 and a 52 week high of $116.63. The stock has a market capitalization of $18.39 billion, a PE ratio of 24.99 and a beta of 0.73. The stock has a 50 day moving average of $108.67 and a 200-day moving average of $107.30.

Check Point Software Technologies (NASDAQ:CHKP) last released its earnings results on Thursday, July 20th. The technology company reported $1.26 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.22 by $0.04. The firm had revenue of $458.60 million for the quarter, compared to the consensus estimate of $454.62 million. Check Point Software Technologies had a return on equity of 22.02% and a net margin of 42.17%. The company’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.09 EPS. Equities analysts forecast that Check Point Software Technologies Ltd. will post $5.18 earnings per share for the current fiscal year.

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About Check Point Software Technologies

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.

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

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