Northwest Bancshares Inc. Has $7.92 Million Stock Position in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Northwest Bancshares Inc. trimmed its holdings in Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 14.6% in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 41,080 shares of the technology company’s stock after selling 7,004 shares during the quarter. Check Point Software Technologies comprises approximately 1.3% of Northwest Bancshares Inc.’s portfolio, making the stock its 9th biggest position. Northwest Bancshares Inc.’s holdings in Check Point Software Technologies were worth $7,921,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Kathleen S. Wright Associates Inc. bought a new stake in Check Point Software Technologies in the 3rd quarter worth about $33,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Check Point Software Technologies in the second quarter worth about $30,000. Concord Wealth Partners purchased a new position in Check Point Software Technologies in the third quarter worth about $37,000. Arrow Financial Corp boosted its position in Check Point Software Technologies by 62.5% in the third quarter. Arrow Financial Corp now owns 260 shares of the technology company’s stock worth $50,000 after purchasing an additional 100 shares during the last quarter. Finally, FSC Wealth Advisors LLC purchased a new position in Check Point Software Technologies in the third quarter worth about $60,000. 87.62% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

CHKP has been the topic of several research reports. Truist Financial raised their target price on Check Point Software Technologies from $200.00 to $220.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Mizuho raised their target price on Check Point Software Technologies from $178.00 to $205.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Barclays dropped their target price on Check Point Software Technologies from $210.00 to $200.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 29th. Jefferies Financial Group lifted their price objective on Check Point Software Technologies from $210.00 to $225.00 and gave the company a “buy” rating in a research report on Tuesday, September 24th. Finally, Robert W. Baird lowered their price objective on Check Point Software Technologies from $210.00 to $205.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 30th. Fifteen equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $197.74.

Check Point Software Technologies Price Performance

NASDAQ:CHKP opened at $174.56 on Wednesday. Check Point Software Technologies Ltd. has a 1 year low of $141.94 and a 1 year high of $210.70. The stock’s 50 day simple moving average is $190.92 and its two-hundred day simple moving average is $176.76. The company has a market cap of $19.20 billion, a price-to-earnings ratio of 23.85, a PEG ratio of 2.97 and a beta of 0.63.

Check Point Software Technologies (NASDAQ:CHKP) last released its earnings results on Tuesday, October 29th. The technology company reported $2.25 earnings per share for the quarter, meeting the consensus estimate of $2.25. The firm had revenue of $635.10 million for the quarter, compared to the consensus estimate of $634.96 million. Check Point Software Technologies had a return on equity of 31.84% and a net margin of 33.17%. The company’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.80 EPS. As a group, analysts anticipate that Check Point Software Technologies Ltd. will post 7.87 EPS for the current year.

Check Point Software Technologies Company 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.