Compass Capital Management Inc. Trims Stake in Check Point Software Technologies Ltd. (CHKP)

Compass Capital Management Inc. lessened its holdings in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 3.0% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 252,044 shares of the technology company’s stock after selling 7,877 shares during the quarter. Check Point Software Technologies comprises about 3.9% of Compass Capital Management Inc.’s holdings, making the stock its 15th biggest holding. Compass Capital Management Inc. owned about 0.15% of Check Point Software Technologies worth $29,658,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the company. Eads & Heald Wealth Management lifted its position in shares of Check Point Software Technologies by 51.3% during the third quarter. Eads & Heald Wealth Management now owns 9,066 shares of the technology company’s stock worth $1,067,000 after purchasing an additional 3,075 shares in the last quarter. Capital Investment Counsel Inc acquired a new stake in shares of Check Point Software Technologies during the third quarter worth about $224,000. Acadian Asset Management LLC lifted its position in shares of Check Point Software Technologies by 451.9% during the third quarter. Acadian Asset Management LLC now owns 1,568,795 shares of the technology company’s stock worth $184,596,000 after purchasing an additional 1,284,529 shares in the last quarter. Cim LLC acquired a new stake in shares of Check Point Software Technologies during the third quarter worth about $221,000. Finally, Scott & Selber Inc. acquired a new stake in shares of Check Point Software Technologies during the third quarter worth about $1,870,000. 67.10% of the stock is currently owned by institutional investors and hedge funds.

Several brokerages have recently issued reports on CHKP. BMO Capital Markets reduced their price target on shares of Check Point Software Technologies to $120.00 and set a “market perform” rating on the stock in a research report on Friday, October 26th. Morgan Stanley reduced their price target on shares of Check Point Software Technologies from $116.00 to $115.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 25th. Wedbush began coverage on shares of Check Point Software Technologies in a research note on Thursday, October 18th. They set an “outperform” rating and a $140.00 target price on the stock. Robert W. Baird restated a “neutral” rating on shares of Check Point Software Technologies in a research note on Thursday, October 18th. Finally, BidaskClub lowered shares of Check Point Software Technologies from a “buy” rating to a “hold” rating in a research note on Tuesday, October 9th. Nineteen equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $115.33.

CHKP stock opened at $111.38 on Friday. Check Point Software Technologies Ltd. has a fifty-two week low of $93.76 and a fifty-two week high of $120.81. The company has a market cap of $17.53 billion, a P/E ratio of 20.75, a PEG ratio of 2.13 and a beta of 0.64.

Check Point Software Technologies (NASDAQ:CHKP) last released its earnings results on Wednesday, October 24th. The technology company reported $1.38 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.36 by $0.02. The firm had revenue of $470.80 million for the quarter, compared to analyst estimates of $465.94 million. Check Point Software Technologies had a net margin of 43.35% and a return on equity of 23.04%. The business’s quarterly revenue was up 3.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.30 earnings per share. As a group, analysts predict that Check Point Software Technologies Ltd. will post 5.2 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 portfolio of network and gateway solutions, management solutions, and data and endpoint security solutions. It provides Check Point Infinity Architecture, a cyber security architecture that protects against 5th generation mega cyber-attacks across various networks, endpoint, cloud, and mobile; security gateways from platforms for small business and small office locations, high end and high demanding data centers, and perimeter environments; and Check Point SandBlast family for threat prevention and zero-day protections.

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

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