Comerica Bank Has $2.46 Million Stock Position in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Comerica Bank reduced its stake in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 14.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 21,221 shares of the technology company’s stock after selling 3,608 shares during the quarter. Comerica Bank’s holdings in Check Point Software Technologies were worth $2,462,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Pinnacle Bank grew its position 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 worth $30,000 after buying an additional 106 shares during the period. NuWave Investment Management LLC grew its position 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 worth $36,000 after buying an additional 120 shares during the period. Mizuho Securities Co. Ltd. acquired a new position in shares of Check Point Software Technologies during the 2nd quarter worth about $39,000. Meridian Wealth Management LLC acquired a new position in shares of Check Point Software Technologies during the 1st quarter worth about $63,000. Finally, Bremer Bank National Association acquired a new position in shares of Check Point Software Technologies during the 1st quarter worth about $72,000. Institutional investors own 69.81% of the company’s stock.

Shares of CHKP opened at $106.72 on Wednesday. The stock has a 50 day simple moving average of $112.26 and a 200 day simple moving average of $117.64. Check Point Software Technologies Ltd. has a 52-week low of $98.57 and a 52-week high of $132.76. The firm has a market capitalization of $16.26 billion, a PE ratio of 20.46, a P/E/G ratio of 2.20 and a beta of 0.79.

Check Point Software Technologies (NASDAQ:CHKP) last issued its quarterly earnings data on Wednesday, July 24th. The technology company reported $1.38 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.24 by $0.14. Check Point Software Technologies had a return on equity of 22.05% and a net margin of 40.99%. The business had revenue of $488.10 million during the quarter, compared to analyst estimates of $487.53 million. During the same period in the previous year, the firm earned $1.37 EPS. Check Point Software Technologies’s quarterly revenue was up 4.3% compared to the same quarter last year. As a group, research analysts anticipate that Check Point Software Technologies Ltd. will post 5.49 EPS for the current fiscal year.

CHKP has been the subject of several analyst reports. Cowen initiated coverage on Check Point Software Technologies in a research report on Thursday, May 23rd. They set a “market perform” rating and a $120.00 target price for the company. Northland Securities restated a “neutral” rating on shares of Check Point Software Technologies in a research report on Thursday, July 25th. Robert W. Baird restated a “hold” rating and set a $120.00 target price on shares of Check Point Software Technologies in a research report on Wednesday, July 24th. BidaskClub lowered Check Point Software Technologies from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 20th. Finally, OTR Global lowered Check Point Software Technologies to a “positive” rating in a research report on Tuesday, July 16th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and five have assigned a buy rating to the company. Check Point Software Technologies currently has an average rating of “Hold” and an average price target of $124.47.

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 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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