1832 Asset Management L.P. Increases Stock Position in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

1832 Asset Management L.P. increased its position in Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 29.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 26,202 shares of the technology company’s stock after acquiring an additional 5,950 shares during the quarter. 1832 Asset Management L.P.’s holdings in Check Point Software Technologies were worth $4,297,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. BSW Wealth Partners boosted its holdings in Check Point Software Technologies by 3.7% in the fourth quarter. BSW Wealth Partners now owns 2,162 shares of the technology company’s stock valued at $330,000 after acquiring an additional 78 shares in the last quarter. Guardian Wealth Management Inc. grew its holdings in shares of Check Point Software Technologies by 0.5% in the fourth quarter. Guardian Wealth Management Inc. now owns 18,633 shares of the technology company’s stock valued at $2,847,000 after purchasing an additional 85 shares in the last quarter. Pacer Advisors Inc. lifted its position in Check Point Software Technologies by 6.9% in the fourth quarter. Pacer Advisors Inc. now owns 1,383 shares of the technology company’s stock worth $211,000 after buying an additional 89 shares during the last quarter. Butensky & Cohen Financial Security Inc. lifted its position in shares of Check Point Software Technologies by 0.4% during the first quarter. Butensky & Cohen Financial Security Inc. now owns 26,472 shares of the technology company’s stock worth $4,342,000 after purchasing an additional 102 shares during the last quarter. Finally, Avantax Advisory Services Inc. lifted its position in shares of Check Point Software Technologies by 6.8% during the fourth quarter. Avantax Advisory Services Inc. now owns 1,717 shares of the technology company’s stock worth $262,000 after purchasing an additional 109 shares during the last quarter. 87.62% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently weighed in on CHKP. Needham & Company LLC restated a “hold” rating on shares of Check Point Software Technologies in a report on Thursday. Scotiabank upped their target price on Check Point Software Technologies from $180.00 to $200.00 and gave the company a “sector outperform” rating in a research report on Thursday. Stifel Nicolaus dropped their target price on Check Point Software Technologies from $170.00 to $165.00 and set a “hold” rating on the stock in a research report on Friday, April 26th. Robert W. Baird boosted their price target on Check Point Software Technologies from $168.00 to $200.00 and gave the company a “neutral” rating in a report on Thursday. Finally, Deutsche Bank Aktiengesellschaft upped their target price on Check Point Software Technologies from $175.00 to $185.00 and gave the stock a “hold” rating in a research note on Thursday. Fifteen research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, Check Point Software Technologies presently has a consensus rating of “Hold” and an average price target of $183.68.

Check Point Software Technologies Price Performance

CHKP stock traded up $1.57 during trading on Friday, reaching $182.74. 638,013 shares of the stock traded hands, compared to its average volume of 756,486. The business’s 50 day moving average price is $161.86 and its 200-day moving average price is $160.27. Check Point Software Technologies Ltd. has a 52-week low of $125.68 and a 52-week high of $184.67. The firm has a market capitalization of $20.63 billion, a PE ratio of 25.38, a P/E/G ratio of 2.86 and a beta of 0.62.

Check Point Software Technologies (NASDAQ:CHKP) last released its quarterly earnings results on Wednesday, July 24th. The technology company reported $2.17 EPS for the quarter, topping the consensus estimate of $2.16 by $0.01. Check Point Software Technologies had a return on equity of 31.59% and a net margin of 33.61%. The business had revenue of $627.40 million for the quarter, compared to analysts’ expectations of $623.19 million. During the same quarter in the previous year, the firm posted $1.74 earnings per share. The company’s revenue was up 6.6% compared to the same quarter last year. On average, equities research analysts predict that Check Point Software Technologies Ltd. will post 7.79 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.