Cadinha & Co. LLC increased its stake in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP - Free Report) by 546.7% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 71,350 shares of the technology company's stock after purchasing an additional 60,317 shares during the period. Check Point Software Technologies makes up approximately 3.5% of Cadinha & Co. LLC's investment portfolio, making the stock its 10th largest position. Cadinha & Co. LLC owned 0.06% of Check Point Software Technologies worth $16,262,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in CHKP. Nemes Rush Group LLC purchased a new position in Check Point Software Technologies in the 4th quarter valued at approximately $25,000. Capital A Wealth Management LLC purchased a new position in Check Point Software Technologies in the 4th quarter valued at approximately $29,000. Golden State Wealth Management LLC purchased a new position in Check Point Software Technologies in the 4th quarter valued at approximately $35,000. Quarry LP boosted its position in Check Point Software Technologies by 100.0% in the 4th quarter. Quarry LP now owns 206 shares of the technology company's stock valued at $38,000 after buying an additional 103 shares during the period. Finally, Menard Financial Group LLC purchased a new position in Check Point Software Technologies in the 4th quarter valued at approximately $41,000. Hedge funds and other institutional investors own 98.51% of the company's stock.
Wall Street Analyst Weigh In
CHKP has been the topic of a number of analyst reports. Robert W. Baird upgraded shares of Check Point Software Technologies from a "neutral" rating to an "outperform" rating and raised their price objective for the company from $235.00 to $255.00 in a report on Thursday, February 27th. Needham & Company LLC restated a "hold" rating on shares of Check Point Software Technologies in a report on Thursday, February 27th. JPMorgan Chase & Co. upgraded shares of Check Point Software Technologies from a "neutral" rating to an "overweight" rating and raised their price objective for the company from $221.00 to $255.00 in a report on Wednesday, February 26th. Jefferies Financial Group raised their price objective on shares of Check Point Software Technologies from $250.00 to $255.00 and gave the company a "buy" rating in a report on Thursday, February 27th. Finally, Susquehanna raised their price objective on shares of Check Point Software Technologies from $215.00 to $255.00 and gave the company a "positive" rating in a report on Friday, January 31st. Sixteen equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $232.04.
Get Our Latest Stock Report on Check Point Software Technologies
Check Point Software Technologies Stock Performance
NASDAQ CHKP traded up $2.60 during trading on Friday, reaching $226.99. The company's stock had a trading volume of 1,131,162 shares, compared to its average volume of 782,247. The firm has a market cap of $24.97 billion, a price-to-earnings ratio of 30.39, a P/E/G ratio of 3.41 and a beta of 0.66. Check Point Software Technologies Ltd. has a twelve month low of $148.33 and a twelve month high of $234.36. The business's fifty day moving average price is $219.04 and its 200-day moving average price is $206.80.
Check Point Software Technologies (NASDAQ:CHKP - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The technology company reported $2.21 earnings per share for the quarter, beating the consensus estimate of $2.19 by $0.02. The business had revenue of $637.80 million for the quarter, compared to the consensus estimate of $635.80 million. Check Point Software Technologies had a net margin of 32.97% and a return on equity of 32.40%. The business's quarterly revenue was up 6.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.04 earnings per share. As a group, sell-side analysts forecast that Check Point Software Technologies Ltd. will post 8.61 EPS for the current fiscal year.
Check Point Software Technologies Profile
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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.
Further Reading
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