Check Point Software Technologies Ltd. (NASDAQ:CHKP) Shares Bought by Verition Fund Management LLC

Posted by on Mar 5th, 2023

Verition Fund Management LLC grew its position in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP – Get Rating) by 135.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,237 shares of the technology company’s stock after acquiring an additional 3,593 shares during the quarter. Verition Fund Management LLC’s holdings in Check Point Software Technologies were worth $699,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of CHKP. SeaCrest Wealth Management LLC acquired a new position in shares of Check Point Software Technologies during the second quarter valued at $33,000. Alta Advisers Ltd acquired a new position in shares of Check Point Software Technologies during the third quarter valued at $45,000. Wipfli Financial Advisors LLC acquired a new position in shares of Check Point Software Technologies during the third quarter valued at $65,000. Benjamin F. Edwards & Company Inc. lifted its holdings in Check Point Software Technologies by 556.5% in the third quarter. Benjamin F. Edwards & Company Inc. now owns 604 shares of the technology company’s stock worth $68,000 after purchasing an additional 512 shares during the period. Finally, Brown Brothers Harriman & Co. lifted its holdings in Check Point Software Technologies by 75.3% in the first quarter. Brown Brothers Harriman & Co. now owns 568 shares of the technology company’s stock worth $79,000 after purchasing an additional 244 shares during the period. Institutional investors and hedge funds own 64.76% of the company’s stock.

Wall Street Analysts Forecast Growth

CHKP has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Check Point Software Technologies from $150.00 to $145.00 and set a “hold” rating for the company in a report on Tuesday, February 14th. Scotiabank initiated coverage on shares of Check Point Software Technologies in a report on Tuesday, January 17th. They issued a “sector outperform” rating and a $160.00 price objective for the company. Wells Fargo & Company raised shares of Check Point Software Technologies from an “underweight” rating to an “equal weight” rating and set a $130.00 price objective for the company in a report on Tuesday, January 17th. Morgan Stanley reduced their price objective on shares of Check Point Software Technologies from $125.00 to $116.00 and set an “underweight” rating for the company in a report on Tuesday, February 14th. Finally, William Blair reaffirmed a “market perform” rating on shares of Check Point Software Technologies in a report on Monday, February 13th. Four analysts have rated the stock with a sell rating, eleven have assigned a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $139.52.

Check Point Software Technologies Price Performance

Shares of CHKP opened at $126.58 on Friday. The company has a market capitalization of $15.87 billion, a price-to-earnings ratio of 20.00, a P/E/G ratio of 2.47 and a beta of 0.69. Check Point Software Technologies Ltd. has a fifty-two week low of $107.54 and a fifty-two week high of $145.98. The business’s 50-day moving average is $127.03 and its 200-day moving average is $124.17.

Check Point Software Technologies (NASDAQ:CHKP – Get Rating) last issued its earnings results on Monday, February 13th. The technology company reported $2.45 earnings per share for the quarter, beating analysts’ consensus estimates of $2.36 by $0.09. The company had revenue of $638.50 million for the quarter, compared to the consensus estimate of $636.24 million. Check Point Software Technologies had a return on equity of 27.22% and a net margin of 34.20%. The firm’s quarterly revenue was up 6.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.02 EPS. Equities research analysts expect that Check Point Software Technologies Ltd. will post 6.95 earnings per share for the current fiscal year.

Check Point Software Technologies Profile

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Check Point Software Technologies Ltd. is engaged in the development and marketing of software and hardware solutions for information technology security. Its products include 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.

See Also

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Institutional Ownership by Quarter for Check Point Software Technologies (NASDAQ:CHKP)

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