US Bancorp DE Sells 8,139 Shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Key Points

• US Bancorp DE has reduced its stake in Check Point Software Technologies by 7.4%, now owning 102,298 shares valued at approximately $23.3 million.
• Check Point reported earnings per share of $2.37 in its latest quarter, surpassing analysts' expectations of $2.36, with a revenue increase of 6.0% year-over-year.
• As of now, about 98.51% of Check Point's stock is held by institutional investors, indicating strong institutional interest in the company.

US Bancorp DE lessened its holdings in Check Point Software Technologies Ltd. (NASDAQ:CHKP - Free Report) by 7.4% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 102,298 shares of the technology company's stock after selling 8,139 shares during the period. US Bancorp DE owned 0.09% of Check Point Software Technologies worth $23,316,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Capital A Wealth Management LLC purchased a new position in Check Point Software Technologies in the 4th quarter worth about $29,000. Cromwell Holdings LLC bought a new position in Check Point Software Technologies in the first quarter worth approximately $37,000. Quarry LP increased its holdings in Check Point Software Technologies by 100.0% during the 4th quarter. Quarry LP now owns 206 shares of the technology company's stock worth $38,000 after purchasing an additional 103 shares during the period. Abound Financial LLC bought a new stake in Check Point Software Technologies during the 1st quarter valued at $40,000. Finally, Menard Financial Group LLC bought a new position in shares of Check Point Software Technologies during the 4th quarter worth $41,000. Hedge funds and other institutional investors own 98.51% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on CHKP. UBS Group lowered their target price on Check Point Software Technologies from $220.00 to $210.00 and set a "neutral" rating for the company in a report on Thursday, July 31st. Stephens dropped their price objective on Check Point Software Technologies from $229.00 to $210.00 and set an "equal weight" rating on the stock in a research report on Thursday, July 31st. Mizuho boosted their target price on shares of Check Point Software Technologies from $230.00 to $240.00 and gave the stock a "neutral" rating in a report on Monday, June 16th. Cantor Fitzgerald set a $220.00 price target on shares of Check Point Software Technologies and gave the company a "neutral" rating in a report on Thursday, July 31st. Finally, Morgan Stanley reduced their price objective on shares of Check Point Software Technologies from $230.00 to $215.00 and set an "equal weight" rating for the company in a research note on Thursday, July 31st. Fifteen analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $228.08.

Check Point Software Technologies Stock Down 1.7%

CHKP traded down $3.18 during midday trading on Thursday, reaching $185.03. 1,704,265 shares of the company's stock were exchanged, compared to its average volume of 938,068. The firm has a market capitalization of $20.35 billion, a price-to-earnings ratio of 24.09, a price-to-earnings-growth ratio of 2.84 and a beta of 0.59. The business has a 50-day simple moving average of $218.33 and a two-hundred day simple moving average of $217.99. Check Point Software Technologies Ltd. has a one year low of $169.01 and a one year high of $234.35.

Check Point Software Technologies (NASDAQ:CHKP - Get Free Report) last posted its quarterly earnings results 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 business had revenue of $665.20 million for the quarter, compared to analyst estimates of $663.10 million. Check Point Software Technologies had a return on equity of 33.21% and a net margin of 32.48%. The firm's revenue was up 6.0% on a year-over-year basis. During the same period last year, the company earned $2.17 EPS. As a group, research analysts anticipate that Check Point Software Technologies Ltd. will post 8.61 EPS for the current fiscal year.

About Check Point Software Technologies

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.