BNP Paribas Financial Markets Acquires 53,204 Shares of Check Point Software Technologies Ltd. $CHKP

Key Points

• BNP Paribas Financial Markets increased its stake in Check Point Software Technologies by 42.2% during the first quarter, owning 179,309 shares valued at approximately $40.87 million.
• Several analysts have lowered their price targets for Check Point Software Technologies shares, with UBS cutting their target from $220 to $210, and Wells Fargo reducing theirs from $265 to $225.
• Check Point Software Technologies reported a quarterly earnings per share of $2.37, slightly above expectations, alongside a year-over-year revenue increase of 6% to $665.2 million.

BNP Paribas Financial Markets raised its holdings in Check Point Software Technologies Ltd. (NASDAQ:CHKP - Free Report) by 42.2% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 179,309 shares of the technology company's stock after buying an additional 53,204 shares during the quarter. BNP Paribas Financial Markets owned 0.16% of Check Point Software Technologies worth $40,868,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CHKP. Victory Capital Management Inc. grew its holdings in Check Point Software Technologies by 2,704.5% in the 1st quarter. Victory Capital Management Inc. now owns 1,304,551 shares of the technology company's stock valued at $297,333,000 after buying an additional 1,258,034 shares during the last quarter. Invesco Ltd. grew its holdings in Check Point Software Technologies by 737.5% in the 1st quarter. Invesco Ltd. now owns 982,986 shares of the technology company's stock valued at $224,042,000 after buying an additional 865,608 shares during the last quarter. Bessemer Group Inc. grew its holdings in Check Point Software Technologies by 5,396.1% in the 1st quarter. Bessemer Group Inc. now owns 658,485 shares of the technology company's stock valued at $150,081,000 after buying an additional 646,504 shares during the last quarter. Westfield Capital Management Co. LP grew its holdings in Check Point Software Technologies by 214.6% in the 1st quarter. Westfield Capital Management Co. LP now owns 864,717 shares of the technology company's stock valued at $197,086,000 after buying an additional 589,816 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in Check Point Software Technologies by 182.0% in the 1st quarter. Bank of New York Mellon Corp now owns 627,489 shares of the technology company's stock valued at $143,017,000 after buying an additional 404,958 shares during the last quarter. Institutional investors and hedge funds own 98.51% of the company's stock.

Check Point Software Technologies Stock Down 0.4%

CHKP traded down $0.70 during trading on Thursday, hitting $190.77. The company's stock had a trading volume of 645,199 shares, compared to its average volume of 921,768. The firm's 50 day moving average price is $203.86 and its two-hundred day moving average price is $215.18. Check Point Software Technologies Ltd. has a 12 month low of $169.01 and a 12 month high of $234.35. The stock has a market capitalization of $20.98 billion, a price-to-earnings ratio of 24.84, a price-to-earnings-growth ratio of 2.90 and a beta of 0.60.

Check Point Software Technologies (NASDAQ:CHKP - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The technology company reported $2.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.01. Check Point Software Technologies had a return on equity of 33.21% and a net margin of 32.48%.The firm had revenue of $665.20 million during the quarter, compared to the consensus estimate of $663.10 million. During the same quarter in the previous year, the company posted $2.17 EPS. The business's revenue for the quarter was up 6.0% compared to the same quarter last year. Check Point Software Technologies has set its FY 2025 guidance at 9.600-10.200 EPS. Q3 2025 guidance at 2.400-2.500 EPS. On average, sell-side analysts forecast that Check Point Software Technologies Ltd. will post 8.61 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have recently weighed in on CHKP. Wells Fargo & Company decreased their price objective on Check Point Software Technologies from $265.00 to $225.00 and set an "overweight" rating on the stock in a report on Thursday, July 31st. Scotiabank decreased their price objective on Check Point Software Technologies from $240.00 to $220.00 and set a "sector outperform" rating on the stock in a report on Thursday, July 31st. Cantor Fitzgerald set a $220.00 price objective on Check Point Software Technologies and gave the stock a "neutral" rating in a report on Thursday, July 31st. UBS Group decreased their price objective on Check Point Software Technologies from $220.00 to $210.00 and set a "neutral" rating on the stock in a report on Thursday, July 31st. Finally, Morgan Stanley decreased their price objective on Check Point Software Technologies from $215.00 to $193.00 and set an "equal weight" rating on the stock in a report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and fifteen have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $227.58.

About Check Point Software Technologies

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.