PNC Financial Services Group Inc. Decreases Stake in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

PNC Financial Services Group Inc. lessened its holdings in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 0.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 72,622 shares of the technology company’s stock after selling 602 shares during the period. PNC Financial Services Group Inc. owned approximately 0.07% of Check Point Software Technologies worth $13,559,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Bank of Montreal Can grew its stake in shares of Check Point Software Technologies by 32.2% during the 3rd quarter. Bank of Montreal Can now owns 85,639 shares of the technology company’s stock worth $16,532,000 after purchasing an additional 20,866 shares during the period. Truist Financial Corp grew its position in Check Point Software Technologies by 2.6% during the fourth quarter. Truist Financial Corp now owns 119,504 shares of the technology company’s stock worth $22,311,000 after buying an additional 3,080 shares during the period. MML Investors Services LLC increased its holdings in Check Point Software Technologies by 3.7% in the third quarter. MML Investors Services LLC now owns 103,507 shares of the technology company’s stock valued at $19,957,000 after buying an additional 3,655 shares in the last quarter. Hickory Asset Management Inc. acquired a new stake in shares of Check Point Software Technologies during the 4th quarter valued at approximately $476,000. Finally, CIBC Asset Management Inc lifted its position in shares of Check Point Software Technologies by 14.5% during the 4th quarter. CIBC Asset Management Inc now owns 9,589 shares of the technology company’s stock valued at $1,790,000 after acquiring an additional 1,215 shares during the period. Hedge funds and other institutional investors own 98.51% of the company’s stock.

Check Point Software Technologies Price Performance

NASDAQ CHKP opened at $222.39 on Wednesday. The company has a market cap of $24.46 billion, a P/E ratio of 29.77, a P/E/G ratio of 3.41 and a beta of 0.62. Check Point Software Technologies Ltd. has a 12 month low of $145.75 and a 12 month high of $230.65. The company has a 50-day moving average of $206.28 and a 200-day moving average of $195.20.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on CHKP shares. JPMorgan Chase & Co. raised Check Point Software Technologies from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $221.00 to $255.00 in a research note on Wednesday, February 26th. StockNews.com upgraded Check Point Software Technologies from a “hold” rating to a “buy” rating in a research report on Wednesday, March 5th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $215.00 price objective on shares of Check Point Software Technologies in a research report on Thursday, February 27th. Stifel Nicolaus raised their target price on shares of Check Point Software Technologies from $190.00 to $220.00 and gave the company a “hold” rating in a report on Friday, January 31st. Finally, BMO Capital Markets upped their price target on shares of Check Point Software Technologies from $215.00 to $245.00 and gave the company a “market perform” rating in a report on Monday, February 3rd. Seventeen analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $224.86.

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.