Chevy Chase Trust Holdings LLC Acquires 9,580 Shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Chevy Chase Trust Holdings LLC increased its holdings in Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 69.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,351 shares of the technology company’s stock after purchasing an additional 9,580 shares during the period. Chevy Chase Trust Holdings LLC’s holdings in Check Point Software Technologies were worth $4,502,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of CHKP. Bleakley Financial Group LLC lifted its stake in shares of Check Point Software Technologies by 3.3% in the third quarter. Bleakley Financial Group LLC now owns 1,797 shares of the technology company’s stock worth $346,000 after buying an additional 57 shares during the last quarter. Brighton Jones LLC raised its holdings in Check Point Software Technologies by 5.2% in the 3rd quarter. Brighton Jones LLC now owns 1,337 shares of the technology company’s stock worth $258,000 after acquiring an additional 66 shares during the period. Patriot Financial Group Insurance Agency LLC lifted its position in Check Point Software Technologies by 1.2% during the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 5,402 shares of the technology company’s stock worth $1,042,000 after acquiring an additional 66 shares during the last quarter. HF Advisory Group LLC boosted its holdings in Check Point Software Technologies by 1.2% during the third quarter. HF Advisory Group LLC now owns 6,061 shares of the technology company’s stock valued at $1,169,000 after acquiring an additional 73 shares during the period. Finally, Heritage Family Offices LLP grew its position in shares of Check Point Software Technologies by 1.6% in the third quarter. Heritage Family Offices LLP now owns 4,884 shares of the technology company’s stock valued at $942,000 after purchasing an additional 77 shares during the last quarter. 87.62% of the stock is owned by institutional investors and hedge funds.

Check Point Software Technologies Price Performance

Check Point Software Technologies stock opened at $186.82 on Friday. The firm has a market capitalization of $20.55 billion, a P/E ratio of 25.52, a P/E/G ratio of 3.19 and a beta of 0.63. The stock has a fifty day moving average price of $188.59 and a two-hundred day moving average price of $179.03. Check Point Software Technologies Ltd. has a 52-week low of $143.28 and a 52-week high of $210.70.

Check Point Software Technologies (NASDAQ:CHKP) last announced its earnings results on Tuesday, October 29th. The technology company reported $2.25 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $2.25. The business had revenue of $635.10 million during the quarter, compared to analysts’ expectations of $634.96 million. Check Point Software Technologies had a net margin of 33.17% and a return on equity of 31.84%. The firm’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same quarter last year, the company posted $1.80 EPS. On average, equities research analysts predict that Check Point Software Technologies Ltd. will post 7.86 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Barclays decreased their target price on Check Point Software Technologies from $210.00 to $200.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 29th. Evercore ISI increased their price objective on Check Point Software Technologies from $180.00 to $185.00 and gave the company an “in-line” rating in a research report on Wednesday, October 30th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $187.00 target price on shares of Check Point Software Technologies in a research report on Wednesday, October 30th. Robert W. Baird reduced their price target on shares of Check Point Software Technologies from $210.00 to $205.00 and set a “neutral” rating for the company in a report on Wednesday, October 30th. Finally, Mizuho boosted their price objective on shares of Check Point Software Technologies from $178.00 to $205.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Fifteen analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $197.74.

Check Point Software Technologies Company 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.