Pioneer Investment Management Inc. Cuts Stake in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Pioneer Investment Management Inc. cut its position in Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 8.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 258,050 shares of the technology company’s stock after selling 25,011 shares during the period. Pioneer Investment Management Inc.’s holdings in Check Point Software Technologies were worth $28,148,000 as of its most recent filing with the SEC.

Other hedge funds have also recently made changes to their positions in the company. Gateway Investment Advisers LLC increased its stake in shares of 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 worth $263,000 after buying an additional 31 shares in the last quarter. IFP Advisors Inc increased its stake in shares of 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 worth $155,000 after buying an additional 36 shares in the last quarter. Trust Co. of Vermont increased its stake in shares of 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 worth $198,000 after buying an additional 39 shares in the last quarter. Ameritas Investment Partners Inc. increased its stake in shares of Check Point Software Technologies by 1.9% in the first quarter. Ameritas Investment Partners Inc. now owns 3,084 shares of the technology company’s stock worth $317,000 after buying an additional 57 shares in the last quarter. Finally, Raymond James Trust N.A. increased its stake in shares of Check Point Software Technologies by 1.5% in the first quarter. Raymond James Trust N.A. now owns 4,976 shares of the technology company’s stock worth $511,000 after buying an additional 72 shares in the last quarter. Institutional investors own 72.46% of the company’s stock.

Shares of Check Point Software Technologies Ltd. (CHKP) opened at 107.42 on Thursday. The firm has a market capitalization of $17.54 billion, a PE ratio of 23.83 and a beta of 0.72. Check Point Software Technologies Ltd. has a 12-month low of $74.34 and a 12-month high of $116.63. The company’s 50-day moving average price is $109.86 and its 200-day moving average price is $105.56.

Check Point Software Technologies (NASDAQ:CHKP) last posted its quarterly earnings data on Thursday, July 20th. The technology company reported $1.26 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.22 by $0.04. The business had revenue of $458.60 million during 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%. Check Point Software Technologies’s quarterly revenue was up 8.5% on a year-over-year basis. During the same period in the prior year, the business posted $1.09 earnings per share. Analysts anticipate that Check Point Software Technologies Ltd. will post $5.18 EPS for the current year.

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A number of brokerages have commented on CHKP. Citigroup Inc. raised their price objective on Check Point Software Technologies from $111.00 to $112.00 and gave the stock a “neutral” rating in a research report on Friday, July 21st. Cowen and Company reiterated a “buy” rating and issued a $113.00 price objective on shares of Check Point Software Technologies in a research report on Friday, July 21st. Oppenheimer Holdings, Inc. reiterated an “outperform” rating and issued a $128.00 price objective on shares of Check Point Software Technologies in a research report on Wednesday, July 26th. BMO Capital Markets reiterated a “market perform” rating and issued a $116.00 price objective (up previously from $110.00) on shares of Check Point Software Technologies in a research report on Friday, April 21st. Finally, Susquehanna Bancshares Inc began coverage on Check Point Software Technologies in a research report on Wednesday, June 7th. They issued a “positive” rating and a $132.00 price objective for the company. Eighteen investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $109.25.

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.

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

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