Check Point Software Technologies Ltd. $CHKP Shares Sold by Northern Trust Corp

Key Points

• Northern Trust Corp reduced its stake in Check Point Software Technologies by 6.8% in the 1st quarter, now holding approximately 0.68% of the company with a value of about $170 million.
• Check Point Software Technologies reported earnings of $2.37 per share for the last quarter, beating estimates and showing a 6% increase in revenue compared to the same quarter last year.
• Analyst ratings for Check Point Software range from a Strong Buy to a Hold, with an average target price of around $228.50.

Northern Trust Corp reduced its position in Check Point Software Technologies Ltd. (NASDAQ:CHKP - Free Report) by 6.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 747,189 shares of the technology company's stock after selling 54,853 shares during the quarter. Northern Trust Corp owned about 0.68% of Check Point Software Technologies worth $170,299,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the company. Summit Securities Group LLC acquired a new stake in shares of Check Point Software Technologies in the first quarter valued at approximately $49,000. Corient IA LLC acquired a new stake in shares of Check Point Software Technologies in the first quarter valued at approximately $1,140,000. Moment Partners LLC acquired a new stake in shares of Check Point Software Technologies in the first quarter valued at approximately $237,000. Northwest & Ethical Investments L.P. boosted its holdings in shares of Check Point Software Technologies by 42.0% in the first quarter. Northwest & Ethical Investments L.P. now owns 11,053 shares of the technology company's stock valued at $2,519,000 after acquiring an additional 3,268 shares during the period. Finally, Steward Partners Investment Advisory LLC boosted its holdings in shares of Check Point Software Technologies by 5.8% in the first quarter. Steward Partners Investment Advisory LLC now owns 18,076 shares of the technology company's stock valued at $4,120,000 after acquiring an additional 997 shares during the period. 98.51% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CHKP has been the subject of several research analyst reports. Morgan Stanley decreased their price objective on Check Point Software Technologies from $230.00 to $215.00 and set an "equal weight" rating for the company in a report on Thursday, July 31st. Royal Bank Of Canada cut their price target on Check Point Software Technologies from $224.00 to $207.00 and set a "sector perform" rating for the company in a research note on Thursday, July 31st. UBS Group cut their price target on Check Point Software Technologies from $220.00 to $210.00 and set a "neutral" rating for the company in a research note on Thursday, July 31st. Scotiabank cut their price target on Check Point Software Technologies from $240.00 to $220.00 and set a "sector outperform" rating for the company in a research note on Thursday, July 31st. Finally, Wells Fargo & Company cut their price target on Check Point Software Technologies from $265.00 to $225.00 and set an "overweight" rating for the company in a research note on Thursday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and fifteen have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $228.50.

Check Point Software Technologies Stock Performance

NASDAQ:CHKP traded up $2.01 during trading hours on Friday, hitting $190.42. The company's stock had a trading volume of 668,144 shares, compared to its average volume of 1,289,925. The business's 50-day moving average is $208.50 and its two-hundred day moving average is $216.63. The company has a market capitalization of $20.94 billion, a PE ratio of 24.79, a PEG ratio of 2.86 and a beta of 0.59. Check Point Software Technologies Ltd. has a 52-week low of $169.01 and a 52-week high of $234.35.

Check Point Software Technologies (NASDAQ:CHKP - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The technology company reported $2.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.36 by $0.01. The firm had revenue of $665.20 million during the quarter, compared to analysts' expectations of $663.10 million. Check Point Software Technologies had a return on equity of 33.21% and a net margin of 32.48%.Check Point Software Technologies's revenue was up 6.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.17 earnings per share. Check Point Software Technologies has set its FY 2025 guidance at 9.600-10.200 EPS. Q3 2025 guidance at 2.400-2.500 EPS. As a group, analysts predict that Check Point Software Technologies Ltd. will post 8.61 EPS for the current fiscal year.

Check Point Software Technologies Profile

Check Point Software Technologies Ltd. develops, markets, and supports a range of products and services for IT security worldwide. The company offers a multilevel security architecture, cloud, network, mobile devices, endpoints information, and IOT solutions. It provides Check Point Infinity Architecture, a cyber security architecture that protects against fifth generation cyber-attacks across various networks, endpoint, cloud, workloads, Internet of Things, and mobile.