NewEdge Wealth LLC Takes Position in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Posted by on Aug 14th, 2023

NewEdge Wealth LLC bought a new position in Check Point Software Technologies Ltd. (NASDAQ:CHKP – Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The fund bought 1,554 shares of the technology company’s stock, valued at approximately $202,000.

Other large investors have also recently modified their holdings of the company. Resurgent Financial Advisors LLC purchased a new position in Check Point Software Technologies during the fourth quarter worth $28,000. ZRC Wealth Management LLC bought a new stake in shares of Check Point Software Technologies in the 1st quarter worth about $38,000. EverSource Wealth Advisors LLC boosted its stake in shares of Check Point Software Technologies by 86.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 339 shares of the technology company’s stock worth $43,000 after purchasing an additional 157 shares during the period. Y.D. More Investments Ltd bought a new position in Check Point Software Technologies during the 4th quarter valued at about $47,000. Finally, Ameritas Advisory Services LLC purchased a new stake in Check Point Software Technologies in the 1st quarter worth about $78,000. Institutional investors own 67.89% of the company’s stock.

Check Point Software Technologies Stock Performance

CHKP stock opened at $130.79 on Monday. Check Point Software Technologies Ltd. has a one year low of $107.54 and a one year high of $135.93. The firm has a market cap of $15.79 billion, a price-to-earnings ratio of 18.98, a PEG ratio of 2.42 and a beta of 0.66. The firm has a 50-day simple moving average of $127.59 and a two-hundred day simple moving average of $126.77.

Check Point Software Technologies (NASDAQ:CHKP – Get Free Report) last posted its quarterly earnings data on Wednesday, July 26th. The technology company reported $2.00 EPS for the quarter, topping the consensus estimate of $1.90 by $0.10. The firm had revenue of $588.70 million during the quarter, compared to analyst estimates of $589.66 million. Check Point Software Technologies had a net margin of 35.43% and a return on equity of 29.80%. Check Point Software Technologies’s revenue was up 3.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.40 EPS. As a group, equities analysts predict that Check Point Software Technologies Ltd. will post 7.14 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have issued reports on CHKP. StockNews.com assumed coverage on Check Point Software Technologies in a research report on Thursday, May 18th. They set a “buy” rating for the company. Citigroup cut their price objective on Check Point Software Technologies from $129.00 to $125.00 in a research report on Tuesday, May 2nd. Barclays lifted their target price on Check Point Software Technologies from $127.00 to $137.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 27th. Royal Bank of Canada boosted their target price on shares of Check Point Software Technologies from $132.00 to $138.00 and gave the company a “sector perform” rating in a research note on Thursday, July 27th. Finally, Credit Suisse Group reduced their price target on shares of Check Point Software Technologies from $115.00 to $105.00 in a research note on Tuesday, May 2nd. Three research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, Check Point Software Technologies has a consensus rating of “Hold” and a consensus target price of $136.14.

Read Our Latest Stock Analysis on CHKP

Check Point Software Technologies Profile

(Free Report)

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.

See Also

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

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