Monarch Capital Management Inc. raised its holdings in Check Point Software Technologies Ltd. (NASDAQ:CHKP – Get Rating) by 2.2% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,136 shares of the technology company's stock after purchasing an additional 90 shares during the quarter. Monarch Capital Management Inc.'s holdings in Check Point Software Technologies were worth $504,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. BlackRock Inc. lifted its stake in shares of Check Point Software Technologies by 2.1% during the 1st quarter. BlackRock Inc. now owns 5,885,211 shares of the technology company's stock worth $813,690,000 after purchasing an additional 118,649 shares during the period. Ninety One UK Ltd raised its holdings in Check Point Software Technologies by 3.5% during the first quarter. Ninety One UK Ltd now owns 3,430,724 shares of the technology company's stock worth $474,332,000 after purchasing an additional 117,040 shares in the last quarter. Nordea Investment Management AB grew its position in Check Point Software Technologies by 11.7% in the first quarter. Nordea Investment Management AB now owns 3,303,458 shares of the technology company's stock worth $459,379,000 after buying an additional 345,565 shares during the last quarter. Boston Partners boosted its stake in shares of Check Point Software Technologies by 17,268.0% during the 1st quarter. Boston Partners now owns 1,873,144 shares of the technology company's stock valued at $259,013,000 after buying an additional 1,862,359 shares during the period. Finally, Earnest Partners LLC lifted its position in Check Point Software Technologies by 14.4% during the 1st quarter. Earnest Partners LLC now owns 767,444 shares of the technology company's stock worth $106,107,000 after acquiring an additional 96,866 shares during the last quarter. Hedge funds and other institutional investors own 67.03% of the company's stock.
Get Check Point Software Technologies alerts:Check Point Software Technologies Price Performance
NASDAQ:CHKP traded down $0.88 during trading hours on Thursday, reaching $112.13. 4,185 shares of the company traded hands, compared to its average volume of 707,571. Check Point Software Technologies Ltd. has a 1-year low of $107.85 and a 1-year high of $149.62. The stock has a market cap of $14.06 billion, a P/E ratio of 18.71, a P/E/G ratio of 2.41 and a beta of 0.61. The firm's 50-day moving average is $120.50 and its 200-day moving average is $126.27.
Check Point Software Technologies (NASDAQ:CHKP – Get Rating) last released its quarterly earnings results on Monday, August 1st. The technology company reported $1.40 earnings per share for the quarter, beating analysts' consensus estimates of $1.35 by $0.05. The company had revenue of $571.10 million for the quarter, compared to analysts' expectations of $560.40 million. Check Point Software Technologies had a return on equity of 25.49% and a net margin of 35.15%. The business's revenue for the quarter was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.41 earnings per share. As a group, research analysts predict that Check Point Software Technologies Ltd. will post 6.28 earnings per share for the current year.Wall Street Analyst Weigh In
Several brokerages have commented on CHKP. Bank of America raised shares of Check Point Software Technologies from an "underperform" rating to a "buy" rating and upped their target price for the company from $130.00 to $140.00 in a research note on Wednesday, July 20th. Piper Sandler decreased their target price on shares of Check Point Software Technologies from $130.00 to $120.00 in a report on Wednesday, July 13th. Barclays cut their target price on shares of Check Point Software Technologies from $145.00 to $140.00 and set an "equal weight" rating on the stock in a research report on Tuesday, August 2nd. Finally, BMO Capital Markets dropped their price target on shares of Check Point Software Technologies from $155.00 to $150.00 and set an "outperform" rating on the stock in a research report on Tuesday, August 2nd. Five equities research analysts have rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $139.06.
About Check Point Software Technologies
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Check Point Software Technologies Ltd. develops, markets, and supports a range of products and services for IT security worldwide. The company offers a portfolio of network security, endpoint security, data security, and management solutions. It provides Check Point Infinity Architecture, a cyber security architecture that protects against 5th and 6th generation cyber-attacks across various networks, endpoint, cloud, workloads, Internet of Things, and mobile.
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