Ballentine Partners LLC Acquires New Position in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Ballentine Partners LLC bought a new position in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm bought 1,195 shares of the technology company’s stock, valued at approximately $223,000.

Several other hedge funds also recently made changes to their positions in CHKP. FSA Wealth Management LLC acquired a new stake in shares of Check Point Software Technologies during the 3rd quarter valued at approximately $27,000. GAMMA Investing LLC raised its holdings in shares of Check Point Software Technologies by 53.1% during the fourth quarter. GAMMA Investing LLC now owns 173 shares of the technology company’s stock worth $32,000 after purchasing an additional 60 shares during the period. Kathleen S. Wright Associates Inc. bought a new position in shares of Check Point Software Technologies in the 3rd quarter worth about $33,000. Concord Wealth Partners acquired a new position in shares of Check Point Software Technologies in the 3rd quarter valued at about $37,000. Finally, Arrow Financial Corp raised its stake in Check Point Software Technologies by 62.5% during the third quarter. Arrow Financial Corp now owns 260 shares of the technology company’s stock worth $50,000 after acquiring an additional 100 shares during the period. Institutional investors and hedge funds own 98.51% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on CHKP. BMO Capital Markets upped their target price on Check Point Software Technologies from $200.00 to $238.00 and gave the company a “market perform” rating in a report on Friday, October 25th. Bank of America lowered Check Point Software Technologies from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $205.00 to $195.00 in a research report on Wednesday, October 30th. Scotiabank boosted their price target on shares of Check Point Software Technologies from $200.00 to $215.00 and gave the company a “sector outperform” rating in a report on Tuesday, January 21st. Stifel Nicolaus increased their price objective on shares of Check Point Software Technologies from $182.00 to $190.00 and gave the stock a “hold” rating in a report on Wednesday, December 18th. Finally, Evercore ISI boosted their target price on shares of Check Point Software Technologies from $180.00 to $185.00 and gave the company an “in-line” rating in a research note on Wednesday, October 30th. Eighteen equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $203.05.

Check Point Software Technologies Stock Performance

Check Point Software Technologies stock opened at $194.48 on Friday. The firm has a market cap of $21.39 billion, a price-to-earnings ratio of 26.57, a price-to-earnings-growth ratio of 3.05 and a beta of 0.63. Check Point Software Technologies Ltd. has a 1 year low of $145.75 and a 1 year high of $210.70. The firm’s 50 day moving average price is $185.60 and its two-hundred day moving average price is $186.45.

Check Point Software Technologies (NASDAQ:CHKP) last announced its earnings results on Tuesday, October 29th. The technology company reported $2.25 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $2.25. Check Point Software Technologies had a return on equity of 31.84% and a net margin of 33.17%. The company had revenue of $635.10 million for the quarter, compared to analyst estimates of $634.96 million. During the same period in the previous year, the firm earned $1.80 earnings per share. Check Point Software Technologies’s revenue for the quarter was up 6.5% compared to the same quarter last year. As a group, equities analysts predict that Check Point Software Technologies Ltd. will post 7.87 EPS 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.