CWA Asset Management Group LLC acquired a new stake in Check Point Software Technologies Ltd. (NASDAQ:CHKP - Free Report) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 8,292 shares of the technology company's stock, valued at approximately $1,599,000.
Other hedge funds have also recently added to or reduced their stakes in the company. Tidal Investments LLC bought a new position in shares of Check Point Software Technologies during the first quarter worth $6,558,000. Quantbot Technologies LP acquired a new position in Check Point Software Technologies in the first quarter valued at about $1,095,000. M&G Plc increased its holdings in shares of Check Point Software Technologies by 10.0% in the second quarter. M&G Plc now owns 108,449 shares of the technology company's stock worth $17,894,000 after acquiring an additional 9,830 shares in the last quarter. Quadrature Capital Ltd acquired a new stake in shares of Check Point Software Technologies during the first quarter worth about $2,928,000. Finally, Susquehanna Fundamental Investments LLC bought a new position in shares of Check Point Software Technologies during the 1st quarter valued at about $541,000. Institutional investors and hedge funds own 87.62% of the company's stock.
Wall Street Analysts Forecast Growth
A number of research firms recently issued reports on CHKP. Jefferies Financial Group increased their target price on Check Point Software Technologies from $210.00 to $225.00 and gave the stock a "buy" rating in a research note on Tuesday, September 24th. Susquehanna raised 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. Deutsche Bank Aktiengesellschaft upped their target price on shares of Check Point Software Technologies from $175.00 to $185.00 and gave the stock a "hold" rating in a research note on Thursday, July 25th. Royal Bank of Canada reissued a "sector perform" rating and issued a $187.00 price target on shares of Check Point Software Technologies in a research note on Wednesday, October 30th. Finally, Wedbush upped their price objective on Check Point Software Technologies from $200.00 to $230.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 9th. Fifteen equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $197.74.
View Our Latest Stock Analysis on Check Point Software Technologies
Check Point Software Technologies Stock Performance
NASDAQ:CHKP traded down $0.84 during mid-day trading on Friday, hitting $176.03. The stock had a trading volume of 714,551 shares, compared to its average volume of 959,778. Check Point Software Technologies Ltd. has a twelve month low of $138.00 and a twelve month high of $210.70. The stock has a market cap of $19.36 billion, a price-to-earnings ratio of 24.05, a PEG ratio of 2.97 and a beta of 0.63. The company's 50 day simple moving average is $192.81 and its 200 day simple moving average is $175.39.
Check Point Software Technologies (NASDAQ:CHKP - Get Free Report) last issued its earnings results on Tuesday, October 29th. The technology company reported $2.25 EPS for the quarter, hitting the consensus estimate of $2.25. Check Point Software Technologies had a return on equity of 31.84% and a net margin of 33.17%. The company had revenue of $635.10 million during the quarter, compared to the consensus estimate of $634.96 million. During the same period in the previous year, the company posted $1.80 EPS. The firm's revenue for the quarter was up 6.5% compared to the same quarter last year. As a group, equities analysts forecast that Check Point Software Technologies Ltd. will post 7.87 earnings per share for the current year.
About Check Point Software Technologies
(
Free Report)
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.
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