Franklin Resources Inc. lessened its holdings in Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 8.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,150,304 shares of the technology company’s stock after selling 554,973 shares during the period. Franklin Resources Inc. owned approximately 3.77% of Check Point Software Technologies worth $670,876,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also made changes to their positions in the company. Massachusetts Financial Services Co. MA lifted its stake in shares of Check Point Software Technologies by 1.9% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 12,349,727 shares of the technology company’s stock valued at $1,267,823,000 after purchasing an additional 229,321 shares during the last quarter. BlackRock Inc. lifted its stake in shares of Check Point Software Technologies by 1,778.0% in the 1st quarter. BlackRock Inc. now owns 5,160,771 shares of the technology company’s stock valued at $529,804,000 after purchasing an additional 4,885,975 shares during the last quarter. Veritas Asset Management LLP acquired a new position in shares of Check Point Software Technologies in the 2nd quarter valued at $482,664,000. FMR LLC lifted its stake in shares of Check Point Software Technologies by 35.3% in the 1st quarter. FMR LLC now owns 3,107,897 shares of the technology company’s stock valued at $319,056,000 after purchasing an additional 810,843 shares during the last quarter. Finally, William Blair Investment Management LLC lifted its stake in shares of Check Point Software Technologies by 3.8% in the 2nd quarter. William Blair Investment Management LLC now owns 2,657,405 shares of the technology company’s stock valued at $289,870,000 after purchasing an additional 96,571 shares during the last quarter. 67.82% of the stock is currently owned by institutional investors and hedge funds.

TRADEMARK VIOLATION WARNING: This report was first posted by The Cerbat Gem and is the property of of The Cerbat Gem. If you are reading this report on another publication, it was illegally copied and reposted in violation of international trademark and copyright law. The original version of this report can be read at https://www.thecerbatgem.com/2017/09/07/check-point-software-technologies-ltd-chkp-stake-lowered-by-franklin-resources-inc.html.

CHKP has been the topic of several recent analyst reports. Citigroup Inc. upped their price target on Check Point Software Technologies from $109.00 to $111.00 and gave the company a “neutral” rating in a research note on Thursday, May 25th. Vetr lowered Check Point Software Technologies from a “hold” rating to a “sell” rating and set a $107.79 price target on the stock. in a research note on Thursday, May 25th. BMO Capital Markets reaffirmed a “hold” rating and issued a $117.00 price target on shares of Check Point Software Technologies in a research note on Thursday, June 1st. Susquehanna Bancshares Inc initiated coverage on Check Point Software Technologies in a research note on Wednesday, June 7th. They issued a “positive” rating and a $132.00 price target on the stock. Finally, BidaskClub raised Check Point Software Technologies from a “buy” rating to a “strong-buy” rating in a research note on Friday, June 9th. Eighteen research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $110.64.

Check Point Software Technologies Ltd. (NASDAQ:CHKP) traded up 0.44% on Thursday, hitting $111.51. The stock had a trading volume of 90,946 shares. The company’s 50 day moving average is $107.96 and its 200 day moving average is $106.86. The firm has a market cap of $18.21 billion, a PE ratio of 24.74 and a beta of 0.73. Check Point Software Technologies Ltd. has a 12-month low of $74.34 and a 12-month high of $116.63.

Check Point Software Technologies (NASDAQ:CHKP) last announced its quarterly earnings data on Thursday, July 20th. The technology company reported $1.26 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.22 by $0.04. The firm had revenue of $458.60 million during the quarter, compared to analyst estimates of $454.62 million. Check Point Software Technologies had a return on equity of 22.02% and a net margin of 42.17%. Check Point Software Technologies’s quarterly revenue was up 8.5% on a year-over-year basis. During the same period in the previous year, the company earned $1.09 earnings per share. On average, equities research analysts expect that Check Point Software Technologies Ltd. will post $5.18 EPS for the current fiscal year.

Check Point Software Technologies Profile

Check Point Software Technologies Ltd. (Check point) develops, markets and supports a range of products and services for information technology (IT) security. The Company’s products and services are sold to enterprises, service providers, small and medium sized businesses and consumers. It offers enterprises a platform to deploy independent, modular and interoperable security applications (Software Blades), such as firewall, virtual private network (VPN), intrusion prevention system (IPS), Application Control, Anti-Bot, antivirus, data loss prevention (DLP), policy management, event analysis or multi-domain management.

Want to see what other hedge funds are holding CHKP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Check Point Software Technologies Ltd. (NASDAQ:CHKP).

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

Receive News & Stock Ratings for Check Point Software Technologies Ltd. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Check Point Software Technologies Ltd. and related stocks with our FREE daily email newsletter.