Bank of Nova Scotia Decreases Holdings in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Bank of Nova Scotia decreased its position in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKPGet Rating) by 4.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,072 shares of the technology company’s stock after selling 285 shares during the quarter. Bank of Nova Scotia’s holdings in Check Point Software Technologies were worth $739,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the company. Boston Partners lifted its stake in Check Point Software Technologies by 17,268.0% in the 1st quarter. Boston Partners now owns 1,873,144 shares of the technology company’s stock valued at $259,013,000 after buying an additional 1,862,359 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in shares of Check Point Software Technologies by 79.2% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 900,204 shares of the technology company’s stock worth $109,626,000 after purchasing an additional 397,986 shares during the period. Border to Coast Pensions Partnership Ltd purchased a new position in shares of Check Point Software Technologies during the 1st quarter worth $34,635,000. Bank of New York Mellon Corp lifted its stake in shares of Check Point Software Technologies by 106.5% during the 1st quarter. Bank of New York Mellon Corp now owns 621,708 shares of the technology company’s stock worth $85,957,000 after purchasing an additional 320,642 shares during the period. Finally, Ardevora Asset Management LLP lifted its stake in shares of Check Point Software Technologies by 40.4% during the 2nd quarter. Ardevora Asset Management LLP now owns 534,034 shares of the technology company’s stock worth $65,035,000 after purchasing an additional 153,793 shares during the period. Hedge funds and other institutional investors own 67.03% of the company’s stock.

Check Point Software Technologies Price Performance

CHKP stock opened at $129.29 on Friday. The business has a fifty day moving average price of $119.07 and a 200 day moving average price of $121.48. Check Point Software Technologies Ltd. has a fifty-two week low of $107.54 and a fifty-two week high of $149.62. The stock has a market capitalization of $16.21 billion, a price-to-earnings ratio of 21.16, a P/E/G ratio of 2.73 and a beta of 0.66.

Check Point Software Technologies (NASDAQ:CHKPGet Rating) last released its earnings results on Thursday, October 27th. The technology company reported $1.77 EPS for the quarter, beating the consensus estimate of $1.67 by $0.10. Check Point Software Technologies had a return on equity of 26.20% and a net margin of 34.35%. The company had revenue of $577.60 million during the quarter, compared to analysts’ expectations of $571.78 million. During the same period last year, the firm earned $1.44 EPS. The business’s revenue for the quarter was up 8.2% on a year-over-year basis. On average, equities analysts expect that Check Point Software Technologies Ltd. will post 6.38 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have weighed in on CHKP. Morgan Stanley increased their price target on Check Point Software Technologies from $120.00 to $125.00 and gave the stock an “underweight” rating in a research note on Friday, October 28th. Wells Fargo & Company upped their price objective on Check Point Software Technologies from $120.00 to $130.00 in a report on Friday, October 28th. Barclays upped their price objective on Check Point Software Technologies from $135.00 to $137.00 and gave the stock an “equal weight” rating in a report on Friday, October 28th. OTR Global downgraded Check Point Software Technologies from a “positive” rating to a “mixed” rating in a report on Wednesday, October 5th. Finally, StockNews.com initiated coverage on Check Point Software Technologies in a report on Wednesday, October 12th. They set a “buy” rating for the company. Five analysts have rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $136.80.

Check Point Software Technologies Profile

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Check Point Software Technologies Ltd. develops, markets, and supports a range of products and services for IT security worldwide. The company offers a portfolio of network security, endpoint security, data security, and management solutions. It provides Check Point Infinity Architecture, a cyber security architecture that protects against 5th and 6th generation cyber-attacks across various networks, endpoint, cloud, workloads, Internet of Things, and mobile.

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

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