Suncoast Equity Management Purchases 3,230 Shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Suncoast Equity Management grew its position in Check Point Software Technologies Ltd. (NASDAQ:CHKP - Free Report) by 148.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,405 shares of the technology company's stock after acquiring an additional 3,230 shares during the period. Suncoast Equity Management's holdings in Check Point Software Technologies were worth $1,042,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Bleakley Financial Group LLC raised 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 valued at $346,000 after acquiring an additional 57 shares during the last quarter. Heritage Family Offices LLP raised its position in Check Point Software Technologies by 1.6% in the 3rd quarter. Heritage Family Offices LLP now owns 4,884 shares of the technology company's stock worth $942,000 after purchasing an additional 77 shares during the last quarter. Argonautica Private Wealth Management Inc. raised its position in Check Point Software Technologies by 1.3% in the 2nd quarter. Argonautica Private Wealth Management Inc. now owns 5,928 shares of the technology company's stock worth $978,000 after purchasing an additional 78 shares during the last quarter. Heron Bay Capital Management raised its position in Check Point Software Technologies by 0.3% in the 2nd quarter. Heron Bay Capital Management now owns 32,873 shares of the technology company's stock worth $5,424,000 after purchasing an additional 92 shares during the last quarter. Finally, Mather Group LLC. raised its position in Check Point Software Technologies by 5.1% in the 2nd quarter. Mather Group LLC. now owns 2,056 shares of the technology company's stock worth $337,000 after purchasing an additional 99 shares during the last quarter. Institutional investors own 87.62% of the company's stock.

Check Point Software Technologies Price Performance

NASDAQ:CHKP traded down $0.95 on Monday, hitting $205.28. 667,097 shares of the company's stock were exchanged, compared to its average volume of 675,075. The firm has a 50-day moving average price of $193.07 and a 200-day moving average price of $172.76. Check Point Software Technologies Ltd. has a 52 week low of $126.57 and a 52 week high of $210.70. The company has a market cap of $23.18 billion, a P/E ratio of 28.64, a price-to-earnings-growth ratio of 3.17 and a beta of 0.62.

Check Point Software Technologies (NASDAQ:CHKP - Get Free Report) last issued 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 net margin of 33.61% and a return on equity of 31.59%. The firm had revenue of $627.40 million for the quarter, compared to analysts' expectations of $623.19 million. During the same period in the previous year, the firm posted $1.74 EPS. The company's revenue for the quarter was up 6.6% on a year-over-year basis. On average, research analysts expect that Check Point Software Technologies Ltd. will post 7.83 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

CHKP has been the subject of several research analyst reports. Scotiabank boosted their price objective on shares of Check Point Software Technologies from $180.00 to $200.00 and gave the stock a "sector outperform" rating in a research report on Thursday, July 25th. Mizuho lifted their target price 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. Royal Bank of Canada lifted their target price on shares of 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. Robert W. Baird lifted their target price on shares of Check Point Software Technologies from $168.00 to $200.00 and gave the stock a "neutral" rating in a report on Thursday, July 25th. Finally, Barclays lifted their target price on shares of Check Point Software Technologies from $175.00 to $192.00 and gave the stock an "equal weight" rating in a report on Thursday, July 25th. Fifteen equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $190.89.

Check Point Software Technologies 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.