CWA Asset Management Group LLC Makes New Investment in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

CWA Asset Management Group LLC bought a new stake in Check Point Software Technologies Ltd. (NASDAQ:CHKP) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 8,292 shares of the technology company’s stock, valued at approximately $1,599,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Norden Group LLC bought a new position in Check Point Software Technologies in the 1st quarter valued at $200,000. Quantbot Technologies LP purchased a new stake in Check Point Software Technologies during the first quarter worth about $1,095,000. SG Americas Securities LLC raised its position in Check Point Software Technologies by 52.1% in the first quarter. SG Americas Securities LLC now owns 41,532 shares of the technology company’s stock worth $6,812,000 after acquiring an additional 14,229 shares during the period. Susquehanna Fundamental Investments LLC purchased a new position in Check Point Software Technologies in the first quarter valued at about $541,000. Finally, Verus Capital Partners LLC grew its position in shares of Check Point Software Technologies by 45.1% during the 1st quarter. Verus Capital Partners LLC now owns 2,407 shares of the technology company’s stock valued at $395,000 after acquiring an additional 748 shares during the period. 87.62% of the stock is owned by hedge funds and other institutional investors.

Check Point Software Technologies Trading Down 0.5 %

CHKP stock opened at $176.03 on Friday. Check Point Software Technologies Ltd. has a 1-year low of $138.00 and a 1-year high of $210.70. The stock has a market cap of $19.36 billion, a price-to-earnings ratio of 24.05, a price-to-earnings-growth ratio of 2.97 and a beta of 0.63. The company’s 50 day moving average is $192.81 and its 200 day moving average is $175.29.

Check Point Software Technologies (NASDAQ:CHKP) last posted its quarterly earnings data on Tuesday, October 29th. The technology company reported $2.25 earnings per share for the quarter, meeting the consensus estimate of $2.25. Check Point Software Technologies had a net margin of 33.17% and a return on equity of 31.84%. The firm had revenue of $635.10 million for the quarter, compared to analysts’ expectations of $634.96 million. During the same quarter last year, the company posted $1.80 EPS. The business’s quarterly revenue was up 6.5% on a year-over-year basis. As a group, sell-side analysts forecast that Check Point Software Technologies Ltd. will post 7.87 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on CHKP shares. JPMorgan Chase & Co. lifted their price target on shares of Check Point Software Technologies from $180.00 to $210.00 and gave the stock a “neutral” rating in a report on Monday, October 28th. Wedbush boosted their target price on Check Point Software Technologies from $200.00 to $230.00 and gave the company an “outperform” rating in a research note on Wednesday, October 9th. Truist Financial increased their price target on Check Point Software Technologies from $200.00 to $220.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Evercore ISI boosted 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 note on Wednesday, October 30th. Finally, Mizuho upped their price objective on shares of Check Point Software Technologies from $178.00 to $205.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Fifteen research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $197.74.

About Check Point Software Technologies

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.