Truist Financial Corp Has $9.88 Million Position in Check Point Software Technologies Ltd. $CHKP

Key Points

• Truist Financial Corp decreased its stake in Check Point Software Technologies by 63.1% in Q2, holding 44,650 shares worth approximately $9.88 million after selling 76,441 shares during the quarter.
• Check Point Software Technologies reported earnings of $2.37 per share in the last quarter, surpassing analysts' expectations and showing a 6% increase in revenue compared to the previous year.
• The company's stock has a market cap of $22.17 billion and is currently trading between its twelve month low of $169.01 and high of $234.35, with an average price target of $227.42 from analysts.

Truist Financial Corp reduced its stake in Check Point Software Technologies Ltd. (NASDAQ:CHKP - Free Report) by 63.1% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 44,650 shares of the technology company's stock after selling 76,441 shares during the quarter. Truist Financial Corp's holdings in Check Point Software Technologies were worth $9,879,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Ameriprise Financial Inc. lifted its holdings in Check Point Software Technologies by 28.1% in the 1st quarter. Ameriprise Financial Inc. now owns 1,830,874 shares of the technology company's stock worth $417,280,000 after purchasing an additional 401,150 shares during the last quarter. Robeco Institutional Asset Management B.V. lifted its holdings in Check Point Software Technologies by 2.8% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 1,687,393 shares of the technology company's stock worth $384,591,000 after purchasing an additional 46,713 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Check Point Software Technologies by 43.5% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,483,714 shares of the technology company's stock worth $338,168,000 after purchasing an additional 450,099 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in Check Point Software Technologies by 2,704.5% in the 1st quarter. Victory Capital Management Inc. now owns 1,304,551 shares of the technology company's stock worth $297,333,000 after purchasing an additional 1,258,034 shares during the last quarter. Finally, Invesco Ltd. lifted its holdings in Check Point Software Technologies by 737.5% in the 1st quarter. Invesco Ltd. now owns 982,986 shares of the technology company's stock worth $224,042,000 after purchasing an additional 865,608 shares during the last quarter. 98.51% of the stock is currently owned by institutional investors and hedge funds.

Check Point Software Technologies Stock Performance

Shares of NASDAQ:CHKP opened at $201.57 on Monday. Check Point Software Technologies Ltd. has a twelve month low of $169.01 and a twelve month high of $234.35. The firm has a market cap of $22.17 billion, a PE ratio of 26.25, a price-to-earnings-growth ratio of 3.03 and a beta of 0.60. The business has a fifty day moving average of $194.37 and a 200-day moving average of $211.57.

Check Point Software Technologies (NASDAQ:CHKP - Get Free Report) last announced its earnings results on Wednesday, July 30th. The technology company reported $2.37 earnings per share for the quarter, beating analysts' consensus estimates of $2.36 by $0.01. Check Point Software Technologies had a return on equity of 33.21% and a net margin of 32.48%.The company had revenue of $665.20 million during the quarter, compared to analyst estimates of $663.10 million. During the same period last year, the company posted $2.17 earnings per share. The firm's quarterly revenue was up 6.0% compared to the same quarter last year. 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. On average, analysts anticipate that Check Point Software Technologies Ltd. will post 8.61 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. 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 report on Thursday, July 31st. Weiss Ratings reiterated a "hold (c+)" rating on shares of Check Point Software Technologies in a report on Saturday, September 27th. 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 report on Thursday, July 31st. Stifel Nicolaus set a $200.00 price target on Check Point Software Technologies in a report on Wednesday, July 30th. Finally, Mizuho upped their price target on Check Point Software Technologies from $230.00 to $240.00 and gave the stock a "neutral" rating in a report on Monday, June 16th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and sixteen have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $227.42.

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.

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