Ritholtz Wealth Management Grows Stock Position in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Ritholtz Wealth Management grew its position in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 13.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,849 shares of the technology company’s stock after buying an additional 950 shares during the period. Ritholtz Wealth Management’s holdings in Check Point Software Technologies were worth $1,295,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Check Point Software Technologies in the 2nd quarter valued at about $30,000. Concord Wealth Partners bought a new stake in shares of Check Point Software Technologies in the first quarter valued at approximately $31,000. Richardson Financial Services Inc. purchased a new stake in shares of Check Point Software Technologies during the 4th quarter valued at approximately $33,000. Annis Gardner Whiting Capital Advisors LLC bought a new position in Check Point Software Technologies in the 4th quarter worth approximately $92,000. Finally, Transcendent Capital Group LLC bought a new position in Check Point Software Technologies in the 1st quarter worth approximately $107,000. Institutional investors own 87.62% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CHKP. Susquehanna boosted their target price on shares of Check Point Software Technologies from $200.00 to $215.00 and gave the company a “positive” rating in a report on Thursday, July 25th. KeyCorp upgraded Check Point Software Technologies to a “hold” rating in a research note on Tuesday, May 14th. Truist Financial restated a “buy” rating and issued a $200.00 target price (up previously from $175.00) on shares of Check Point Software Technologies in a research note on Thursday, July 25th. Deutsche Bank Aktiengesellschaft upped their price target on Check Point Software Technologies from $175.00 to $185.00 and gave the company a “hold” rating in a research report on Thursday, July 25th. Finally, Wedbush raised their price objective on shares of Check Point Software Technologies from $185.00 to $200.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Fifteen equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $183.68.

Check Point Software Technologies Stock Up 0.5 %

NASDAQ CHKP opened at $192.50 on Tuesday. The firm has a market cap of $21.74 billion, a price-to-earnings ratio of 26.74, a PEG ratio of 3.00 and a beta of 0.62. The company has a 50-day simple moving average of $177.70 and a two-hundred day simple moving average of $164.80. Check Point Software Technologies Ltd. has a 12-month low of $126.57 and a 12-month high of $193.27.

Check Point Software Technologies (NASDAQ:CHKP) last posted its quarterly earnings results on Wednesday, July 24th. The technology company reported $2.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.16 by $0.01. Check Point Software Technologies had a return on equity of 31.59% and a net margin of 33.61%. The business had revenue of $627.40 million for the quarter, compared to analyst estimates of $623.19 million. During the same period last year, the company earned $1.74 EPS. Check Point Software Technologies’s revenue for the quarter was up 6.6% compared to the same quarter last year. Equities analysts expect that Check Point Software Technologies Ltd. will post 7.83 earnings per share for the current fiscal year.

Check Point Software Technologies Company Profile

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.