Los Angeles Capital Management LLC Increases Holdings in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Posted by on May 2nd, 2023

Los Angeles Capital Management LLC lifted its holdings in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP – Get Rating) by 20.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,260 shares of the technology company’s stock after purchasing an additional 2,215 shares during the period. Los Angeles Capital Management LLC’s holdings in Check Point Software Technologies were worth $1,673,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in CHKP. Trifecta Capital Advisors LLC bought a new stake in shares of Check Point Software Technologies during the 4th quarter worth $28,000. Lindbrook Capital LLC raised its stake in shares of Check Point Software Technologies by 66.0% during the 4th quarter. Lindbrook Capital LLC now owns 259 shares of the technology company’s stock worth $33,000 after purchasing an additional 103 shares during the period. Alta Advisers Ltd bought a new stake in shares of Check Point Software Technologies during the 3rd quarter worth $45,000. Y.D. More Investments Ltd bought a new stake in shares of Check Point Software Technologies during the 4th quarter worth $47,000. Finally, Wipfli Financial Advisors LLC bought a new stake in Check Point Software Technologies in the 3rd quarter valued at about $65,000. 64.76% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. William Blair reaffirmed a “market perform” rating on shares of Check Point Software Technologies in a research note on Monday, February 13th. JPMorgan Chase & Co. initiated coverage on Check Point Software Technologies in a research report on Tuesday, January 24th. They issued a “neutral” rating and a $134.00 price objective for the company. The Goldman Sachs Group initiated coverage on Check Point Software Technologies in a research report on Tuesday, February 14th. They issued a “buy” rating and a $148.00 price objective for the company. OTR Global upgraded Check Point Software Technologies from a “mixed” rating to a “positive” rating in a report on Wednesday, April 12th. Finally, Scotiabank initiated coverage on Check Point Software Technologies in a report on Tuesday, January 17th. They set a “sector outperform” rating and a $160.00 target price for the company. Three research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $136.33.

Check Point Software Technologies Price Performance

Shares of NASDAQ:CHKP opened at $118.52 on Tuesday. Check Point Software Technologies Ltd. has a 1-year low of $107.54 and a 1-year high of $135.93. The company has a market capitalization of $14.86 billion, a P/E ratio of 18.72, a P/E/G ratio of 2.51 and a beta of 0.69. The firm’s 50 day simple moving average is $128.19 and its two-hundred day simple moving average is $127.53.

Check Point Software Technologies (NASDAQ:CHKP – Get Rating) last released its quarterly earnings data on Monday, May 1st. The technology company reported $1.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.49 by $0.31. Check Point Software Technologies had a net margin of 34.20% and a return on equity of 27.22%. The firm had revenue of $566.20 million for the quarter, compared to analysts’ expectations of $568.83 million. During the same quarter last year, the business posted $1.34 earnings per share. The company’s revenue for the quarter was up 4.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Check Point Software Technologies Ltd. will post 6.95 earnings per share for the current fiscal year.

About Check Point Software Technologies

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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.

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

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