Northwest Bancshares Inc. Sells 7,004 Shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Northwest Bancshares Inc. lessened its holdings in Check Point Software Technologies Ltd. (NASDAQ:CHKP - Free Report) by 14.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 41,080 shares of the technology company's stock after selling 7,004 shares during the period. 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 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the stock. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Check Point Software Technologies in the second quarter valued at approximately $30,000. Kathleen S. Wright Associates Inc. bought a new stake in Check Point Software Technologies in the third quarter valued at about $33,000. Concord Wealth Partners bought a new position in Check Point Software Technologies during the third quarter worth about $37,000. Arrow Financial Corp lifted its position in shares of Check Point Software Technologies by 62.5% during the 3rd quarter. Arrow Financial Corp now owns 260 shares of the technology company's stock worth $50,000 after buying an additional 100 shares during the period. Finally, FSC Wealth Advisors LLC bought a new stake in Check Point Software Technologies in the third quarter valued at $60,000. Institutional investors and hedge funds own 87.62% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on CHKP shares. Royal Bank of Canada restated a "sector perform" rating and issued a $187.00 price target on shares of Check Point Software Technologies in a research report on Wednesday, October 30th. Mizuho boosted their price objective on Check Point Software Technologies from $178.00 to $205.00 and gave the stock a "neutral" rating in a research note on Thursday, October 17th. JPMorgan Chase & Co. lifted their price target on Check Point Software Technologies from $180.00 to $210.00 and gave the company a "neutral" rating in a report on Monday, October 28th. Susquehanna increased their price objective on shares of Check Point Software Technologies from $200.00 to $215.00 and gave the stock a "positive" rating in a report on Thursday, July 25th. Finally, Scotiabank boosted their target price on shares of Check Point Software Technologies from $180.00 to $200.00 and gave the stock a "sector outperform" rating in a research note on Thursday, July 25th. Fifteen equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $197.74.

Check Point Software Technologies Price Performance

Check Point Software Technologies stock traded up $1.69 during midday trading on Wednesday, hitting $176.25. The company's stock had a trading volume of 206,324 shares, compared to its average volume of 693,611. The company has a 50-day moving average price of $190.92 and a two-hundred day moving average price of $176.76. Check Point Software Technologies Ltd. has a 1-year low of $142.60 and a 1-year high of $210.70. The company has a market cap of $19.38 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 - Get Free Report) last released its earnings results on Tuesday, October 29th. The technology company reported $2.25 earnings per share for the quarter, meeting analysts' consensus estimates of $2.25. Check Point Software Technologies had a return on equity of 31.84% and a net margin of 33.17%. The firm had revenue of $635.10 million during the quarter, compared to the consensus estimate of $634.96 million. During the same period in the prior year, the company posted $1.80 EPS. The company's revenue was up 6.5% compared to the same quarter last year. Sell-side analysts forecast that Check Point Software Technologies Ltd. will post 7.87 EPS for the current year.

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 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.