Check Point Software Technologies Ltd. (NASDAQ:CHKP) Holdings Increased by NewEdge Wealth LLC

NewEdge Wealth LLC lifted its holdings in Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 144.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,427 shares of the technology company’s stock after purchasing an additional 5,573 shares during the period. NewEdge Wealth LLC’s holdings in Check Point Software Technologies were worth $1,440,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in CHKP. Assenagon Asset Management S.A. increased its position in shares of Check Point Software Technologies by 52.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 55,681 shares of the technology company’s stock worth $8,508,000 after acquiring an additional 19,111 shares in the last quarter. Prime Capital Investment Advisors LLC purchased a new position in Check Point Software Technologies during the fourth quarter valued at approximately $1,505,000. Tritonpoint Wealth LLC purchased a new position in Check Point Software Technologies during the fourth quarter valued at approximately $2,586,000. SG Americas Securities LLC grew its position in Check Point Software Technologies by 81.9% during the fourth quarter. SG Americas Securities LLC now owns 27,303 shares of the technology company’s stock valued at $4,172,000 after purchasing an additional 12,297 shares in the last quarter. Finally, International Assets Investment Management LLC purchased a new position in Check Point Software Technologies during the fourth quarter valued at approximately $47,160,000. Institutional investors and hedge funds own 87.62% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. BMO Capital Markets boosted their price objective on shares of Check Point Software Technologies from $175.00 to $185.00 and gave the company a “market perform” rating in a research report on Wednesday, February 7th. Royal Bank of Canada boosted their price objective on shares of Check Point Software Technologies from $159.00 to $165.00 and gave the company a “sector perform” rating in a research report on Wednesday, February 7th. William Blair raised shares of Check Point Software Technologies from a “market perform” rating to an “outperform” rating in a research report on Wednesday, January 31st. Wells Fargo & Company boosted their price objective on shares of Check Point Software Technologies from $132.00 to $162.00 and gave the company an “equal weight” rating in a research report on Monday, January 29th. Finally, Scotiabank lifted their target price on shares of Check Point Software Technologies from $170.00 to $180.00 and gave the company a “sector outperform” rating in a research note on Wednesday, February 7th. Thirteen analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $159.70.

Check Point Software Technologies Trading Down 0.9 %

Shares of Check Point Software Technologies stock opened at $161.73 on Monday. The firm has a fifty day simple moving average of $162.63 and a 200-day simple moving average of $151.52. Check Point Software Technologies Ltd. has a 1-year low of $117.18 and a 1-year high of $168.82. The stock has a market capitalization of $19.53 billion, a price-to-earnings ratio of 22.71, a PEG ratio of 2.62 and a beta of 0.61.

Check Point Software Technologies (NASDAQ:CHKP) last issued its quarterly earnings data on Tuesday, February 6th. The technology company reported $2.57 earnings per share for the quarter, topping analysts’ consensus estimates of $2.47 by $0.10. Check Point Software Technologies had a net margin of 34.80% and a return on equity of 30.81%. The business had revenue of $663.50 million during the quarter, compared to analysts’ expectations of $662.09 million. During the same period in the previous year, the company earned $2.23 earnings per share. Check Point Software Technologies’s revenue for the quarter was up 3.9% on a year-over-year basis. As a group, research analysts predict that Check Point Software Technologies Ltd. will post 7.85 earnings per share for the current year.

About Check Point Software Technologies

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.