Check Point Software Technologies Ltd. is a company that provides software and hardware solutions for information technology security. The company’s products include Quantum, CloudGuard, Harmony, and Infinity-Vision. It was founded in July 1993 by Gil Shwed, Marius Nacht, and Shlomo Kramer and is headquartered in Tel Aviv, Israel.
Recently, Check Point Software Technologies Ltd. posted quarterly earnings data that beat analysts’ consensus estimates. The company posted $2.45 EPS for the quarter and had revenue of $638.50 million, with an increase in revenue of 6.6% compared to the same quarter last year. The company had a return on equity of 27.22% and a net margin of 34.20%. Check Point Software Technologies Ltd. is currently being monitored by hedge funds, and those interested in learning more about the company can visit HoldingsChannel.com to get the latest 13F filings and insider trades.
Several equities research analysts have also weighed in on CHKP shares, with an average rating of “Hold” and an average price target of $138.41.
Gateway Investment Advisers LLC Increases Stock Holdings in Check Point Software Technologies Ltd.
Institutional investment management company, Gateway Investment Advisers LLC, increased its holdings in Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 26.6% in the fourth quarter of the previous year, according to recent reports.
The increase in Check Point Software Technologies Ltd. (NASDAQ:CHKP) holdings by Gateway Investment Advisers LLC was one of many, as other institutional investors have also either added to or reduced their stakes in the company recently.
Massachusetts Financial Services Co. MA, for instance, increased its position in Check Point Software Technologies by 20.2% during the third quarter. The company now owns 7,631,197 shares of Check Point Software Technologies stock worth $854,846,000, after purchasing an additional 1,280,868 shares during the period. Similarly, Nordea Investment Management AB increased its position in Check Point Software Technologies by 31.9% during the third quarter. The company now owns 3,256,416 shares of the technology company’s stock worth $370,677,000 after buying an additional 786,647 shares during the period. Great West Life Assurance Co. Can also acquired a new position in Check Point Software Technologies during the third quarter worth approximately $35,461,000.
The institutional investors and hedge funds currently own 64.76% of Check Point Software Technologies Ltd.’s shares.
In terms of recent figures, Check Point Software Technologies Ltd. opened at $128.03 on Friday and has a market cap of $16.06 billion. The company’s P/E ratio is 20.23, with a PEG ratio of 2.57 and a beta of 0.69. The company’s 52-week low is $107.54, and its 52-week high is $145.54. Additionally, the business’s fifty-day simple moving average is $127.26, while its 200-day simple moving average is $124.67.
Overall, it appears that Gateway Investment Advisers LLC’s recent increase in holdings is part of a larger trend of institutional investors adding to their stakes in Check Point Software Technologies Ltd. (NASDAQ:CHKP).
Check Point Software Technologies Ltd. Quarterly Earnings Report
Check Point Software Technologies Ltd. (NASDAQ:CHKP – Get Rating) recently released its quarterly earnings data, with the technology company posting $2.45 earnings per share (EPS) for the quarter. This beats analysts’ consensus estimates of $2.36 EPS by $0.09. Check Point Software Technologies reported $638.50 million in revenue for the quarter, compared to analyst estimates of $636.24 million. The company’s revenue for the quarter increased by 6.6% compared to the same quarter last year, and the business’s return on equity was 27.22%, with a net margin of 34.20%.
During the same quarter last year, Check Point Software Technologies earned $2.02 earnings per share. As a group, equities analysts expect the company to post 6.94 EPS for the current fiscal year.
Wall Street Analyst Ratings
Several equities research analysts have recently weighed in on CHKP shares. Truist Financial, for instance, increased its price target on Check Point Software Technologies from $130.00 to $140.00 and gave the stock a “buy” rating in a research note on Tuesday, February 14th. Piper Sandler, on the other hand, increased its price target on Check Point Software Technologies from $125.00 to $130.00 in a research note on Thursday, January 5th.
However, Sumitomo Mitsui Financial Group cut Check Point Software Technologies from a “neutral” rating to an “underperform” rating and reduced their price target for the stock from $125.00 to $120.00 in a research note on Thursday, February 16th. Similarly, Morgan Stanley reduced their price target on Check Point Software Technologies from $125.00 to $116.00 and set an “underweight” rating for the company in a research note on Tuesday, February 14th.
According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $138.41.
Check Point Software Technologies Ltd.: Products and Founders
Check Point Software Technologies Ltd. is a company focused on the development and marketing of software and hardware solutions for information technology security. Among its products are Quantum, CloudGuard, Harmony, and Infinity-Vision. The company was founded by Gil Shwed, Marius Nacht, and Shlomo Kramer in July 1993 and is headquartered in Tel Aviv, Israel.
Featured Stories
If you’re interested in seeing what other hedge funds hold CHKP, visit HoldingsChannel.com to get the latest 13F filings and insider trades for Check Point Software Technologies Ltd. (NASDAQ:CHKP – Get Rating). You can also enter your email address below to receive a daily summary of the latest news and analysts’ ratings for Check Point Software Technologies and related companies with MarketBeat.com’s FREE daily email newsletter.
Don’t miss interesting posts on Famousbio
