Virginia Retirement Systems ET AL Grows Stock Holdings in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Virginia Retirement Systems ET AL raised its position in Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 4.3% during the second quarter, Holdings Channel.com reports. The fund owned 225,300 shares of the technology company’s stock after purchasing an additional 9,200 shares during the quarter. Virginia Retirement Systems ET AL’s holdings in Check Point Software Technologies were worth $26,047,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Pinnacle Bank boosted its stake in shares of Check Point Software Technologies by 69.7% during the 2nd quarter. Pinnacle Bank now owns 258 shares of the technology company’s stock valued at $30,000 after purchasing an additional 106 shares in the last quarter. NuWave Investment Management LLC boosted its stake in shares of Check Point Software Technologies by 64.5% during the 2nd quarter. NuWave Investment Management LLC now owns 306 shares of the technology company’s stock valued at $36,000 after purchasing an additional 120 shares in the last quarter. First Personal Financial Services boosted its stake in shares of Check Point Software Technologies by 64.8% during the 1st quarter. First Personal Financial Services now owns 374 shares of the technology company’s stock valued at $47,000 after purchasing an additional 147 shares in the last quarter. Meridian Wealth Management LLC bought a new stake in shares of Check Point Software Technologies during the 1st quarter valued at about $63,000. Finally, Bremer Bank National Association bought a new stake in shares of Check Point Software Technologies during the 1st quarter valued at about $72,000. Hedge funds and other institutional investors own 70.99% of the company’s stock.

NASDAQ:CHKP traded up $0.40 during mid-day trading on Tuesday, hitting $108.49. 53,469 shares of the company’s stock were exchanged, compared to its average volume of 1,077,363. Check Point Software Technologies Ltd. has a one year low of $98.57 and a one year high of $132.76. The company has a fifty day moving average price of $115.46. The stock has a market cap of $17.01 billion, a P/E ratio of 20.80, a PEG ratio of 2.30 and a beta of 0.79.

Check Point Software Technologies (NASDAQ:CHKP) last posted its quarterly earnings data on Wednesday, July 24th. The technology company reported $1.38 EPS for the quarter, topping the consensus estimate of $1.24 by $0.14. Check Point Software Technologies had a net margin of 40.99% and a return on equity of 22.05%. The business had revenue of $488.10 million for the quarter, compared to analyst estimates of $487.53 million. During the same quarter in the previous year, the firm posted $1.37 earnings per share. Check Point Software Technologies’s quarterly revenue was up 4.3% on a year-over-year basis. On average, equities research analysts predict that Check Point Software Technologies Ltd. will post 5.5 EPS for the current year.

A number of brokerages have recently weighed in on CHKP. Northland Securities reaffirmed a “neutral” rating on shares of Check Point Software Technologies in a research note on Thursday, July 25th. BMO Capital Markets reaffirmed an “outperform” rating and set a $125.00 target price (up previously from $120.00) on shares of Check Point Software Technologies in a research note on Monday, April 22nd. Oppenheimer lifted their target price on shares of Check Point Software Technologies from $130.00 to $145.00 and gave the company an “outperform” rating in a research note on Monday, April 15th. Cowen began coverage on shares of Check Point Software Technologies in a research note on Thursday, May 23rd. They set a “market perform” rating and a $120.00 target price on the stock. Finally, Zacks Investment Research lowered shares of Check Point Software Technologies from a “buy” rating to a “hold” rating in a research note on Wednesday, April 24th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and five have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $124.47.

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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