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

Edgestream Partners L.P. lowered its position in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 71.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund 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.

A number of other hedge funds have also recently modified their holdings of the business. Fiduciary Trust Co. bought a new stake in shares of Check Point Software Technologies in the 2nd quarter valued at about $145,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lifted its stake in shares of Check Point Software Technologies by 1.4% in the 2nd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,425 shares of the technology company’s stock valued at $151,000 after acquiring an additional 20 shares during the last quarter. Bronfman E.L. Rothschild L.P. lifted its stake in shares of Check Point Software Technologies by 10.7% in the 1st quarter. Bronfman E.L. Rothschild L.P. now owns 1,509 shares of the technology company’s stock valued at $155,000 after acquiring an additional 146 shares during the last quarter. IFP Advisors Inc lifted its stake in shares of Check Point Software Technologies by 2.4% in the 1st quarter. IFP Advisors Inc now owns 1,513 shares of the technology company’s stock valued at $155,000 after acquiring an additional 36 shares during the last quarter. Finally, Parallel Advisors LLC lifted its stake in shares of Check Point Software Technologies by 13.9% in the 1st quarter. Parallel Advisors LLC now owns 1,654 shares of the technology company’s stock valued at $173,000 after acquiring an additional 202 shares during the last quarter. 67.82% of the stock is owned by hedge funds and other institutional investors.

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A number of research analysts recently issued reports on the company. BidaskClub upgraded Check Point Software Technologies from a “buy” rating to a “strong-buy” rating in a report on Friday, June 9th. Susquehanna Bancshares Inc assumed coverage on Check Point Software Technologies in a report on Wednesday, June 7th. They set a “positive” rating and a $132.00 price target on the stock. BMO Capital Markets restated a “hold” rating and set a $117.00 price target on shares of Check Point Software Technologies in a report on Thursday, June 1st. Cowen and Company restated a “buy” rating and set a $113.00 price target on shares of Check Point Software Technologies in a report on Friday, September 8th. Finally, Credit Suisse Group started coverage on Check Point Software Technologies in a report on Tuesday, September 5th. They set a “neutral” rating and a $110.00 price target on the stock. Seventeen analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $110.64.

Check Point Software Technologies Ltd. (NASDAQ:CHKP) opened at 111.99 on Friday. The company has a market capitalization of $18.29 billion, a PE ratio of 24.85 and a beta of 0.73. The company has a 50-day moving average price of $109.25 and a 200 day moving average price of $107.71. Check Point Software Technologies Ltd. has a 52-week low of $74.34 and a 52-week high of $116.63.

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

Check Point Software Technologies 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.

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

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