SG Americas Securities LLC Purchases 28,340 Shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP)

SG Americas Securities LLC raised its holdings in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP - Free Report) by 85.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 61,315 shares of the technology company's stock after purchasing an additional 28,340 shares during the period. SG Americas Securities LLC owned approximately 0.05% of Check Point Software Technologies worth $11,822,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of CHKP. Davis Capital Management grew its stake in shares of Check Point Software Technologies by 587.1% in the third quarter. Davis Capital Management now owns 1,649 shares of the technology company's stock worth $318,000 after acquiring an additional 1,409 shares during the period. First Financial Bank Trust Division boosted its holdings in Check Point Software Technologies by 29.3% in the third quarter. First Financial Bank Trust Division now owns 36,371 shares of the technology company's stock worth $7,013,000 after purchasing an additional 8,236 shares during the last quarter. Centaurus Financial Inc. grew its position in Check Point Software Technologies by 83.2% in the 2nd quarter. Centaurus Financial Inc. now owns 1,865 shares of the technology company's stock worth $308,000 after purchasing an additional 847 shares during the period. Healthcare of Ontario Pension Plan Trust Fund raised its stake in Check Point Software Technologies by 120.0% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 22,000 shares of the technology company's stock valued at $3,630,000 after buying an additional 12,000 shares during the last quarter. Finally, Sanctuary Advisors LLC bought a new position in shares of Check Point Software Technologies during the 2nd quarter valued at $703,000. Institutional investors own 87.62% of the company's stock.

Check Point Software Technologies Stock Performance

Shares of Check Point Software Technologies stock traded up $3.03 on Friday, hitting $193.93. 317,828 shares of the company traded hands, compared to its average volume of 670,239. Check Point Software Technologies Ltd. has a 52 week low of $126.57 and a 52 week high of $196.56. The business has a 50-day simple moving average of $188.19 and a 200 day simple moving average of $169.90. The stock has a market capitalization of $21.90 billion, a P/E ratio of 26.93, a price-to-earnings-growth ratio of 3.05 and a beta of 0.62.

Check Point Software Technologies (NASDAQ:CHKP - Get Free Report) last posted its earnings results on Wednesday, July 24th. The technology company reported $2.17 earnings per share for the quarter, beating the consensus estimate of $2.16 by $0.01. Check Point Software Technologies had a net margin of 33.61% and a return on equity of 31.59%. The company had revenue of $627.40 million during the quarter, compared to analysts' expectations of $623.19 million. During the same period last year, the company posted $1.74 earnings per share. Check Point Software Technologies's quarterly revenue was up 6.6% on a year-over-year basis. Research analysts expect that Check Point Software Technologies Ltd. will post 7.83 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on CHKP. Royal Bank of Canada lifted their price objective on Check Point Software Technologies from $165.00 to $187.00 and gave the stock a "sector perform" rating in a report on Thursday, July 25th. Barclays boosted their price target on Check Point Software Technologies from $175.00 to $192.00 and gave the company an "equal weight" rating in a research note on Thursday, July 25th. JPMorgan Chase & Co. increased their price objective on shares of Check Point Software Technologies from $175.00 to $180.00 and gave the stock a "neutral" rating in a research note on Thursday, July 25th. Wedbush raised their price objective on shares of Check Point Software Technologies from $185.00 to $200.00 and gave the stock an "outperform" rating in a report on Thursday, July 25th. Finally, Scotiabank upped their target price on shares of Check Point Software Technologies from $180.00 to $200.00 and gave the company a "sector outperform" rating in a report on Thursday, July 25th. Sixteen research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $184.47.

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.