Merit Financial Group LLC Purchases 1,482 Shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Merit Financial Group LLC lifted its holdings in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP - Free Report) by 9.2% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 17,561 shares of the technology company's stock after purchasing an additional 1,482 shares during the period. Merit Financial Group LLC's holdings in Check Point Software Technologies were worth $4,003,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. Tokio Marine Asset Management Co. Ltd. grew its stake in shares of Check Point Software Technologies by 15.0% during the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 3,211 shares of the technology company's stock valued at $599,000 after buying an additional 420 shares during the last quarter. DAVENPORT & Co LLC grew its position in Check Point Software Technologies by 2.4% during the 4th quarter. DAVENPORT & Co LLC now owns 3,028 shares of the technology company's stock worth $565,000 after acquiring an additional 71 shares during the last quarter. CENTRAL TRUST Co purchased a new position in Check Point Software Technologies in the 4th quarter worth approximately $56,000. Yousif Capital Management LLC increased its stake in Check Point Software Technologies by 1.7% in the 4th quarter. Yousif Capital Management LLC now owns 5,507 shares of the technology company's stock worth $1,028,000 after purchasing an additional 90 shares during the period. Finally, Choreo LLC lifted its position in Check Point Software Technologies by 16.1% in the fourth quarter. Choreo LLC now owns 2,388 shares of the technology company's stock valued at $447,000 after purchasing an additional 332 shares during the last quarter. Hedge funds and other institutional investors own 98.51% of the company's stock.

Check Point Software Technologies Stock Up 1.0%

CHKP traded up $2.36 during mid-day trading on Friday, reaching $233.47. 429,110 shares of the company traded hands, compared to its average volume of 779,456. The company's fifty day moving average price is $219.16 and its 200-day moving average price is $208.31. The stock has a market capitalization of $25.68 billion, a P/E ratio of 31.25, a P/E/G ratio of 3.41 and a beta of 0.66. Check Point Software Technologies Ltd. has a 52-week low of $152.91 and a 52-week high of $244.45.

Check Point Software Technologies (NASDAQ:CHKP - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The technology company reported $2.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.19 by $0.02. Check Point Software Technologies had a net margin of 32.97% and a return on equity of 32.40%. The company had revenue of $637.80 million during the quarter, compared to analyst estimates of $635.80 million. During the same period in the previous year, the business posted $2.04 earnings per share. The firm's quarterly revenue was up 6.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Check Point Software Technologies Ltd. will post 8.61 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Mizuho raised their target price on shares of Check Point Software Technologies from $220.00 to $230.00 and gave the stock a "neutral" rating in a report on Wednesday, February 26th. Wells Fargo & Company reduced their price target on shares of Check Point Software Technologies from $280.00 to $265.00 and set an "overweight" rating on the stock in a research report on Thursday, April 24th. Compass Point set a $260.00 price target on Check Point Software Technologies in a research report on Thursday, March 27th. Needham & Company LLC reiterated a "hold" rating on shares of Check Point Software Technologies in a report on Thursday, February 27th. Finally, Wedbush reissued an "outperform" rating and set a $240.00 price objective on shares of Check Point Software Technologies in a research report on Thursday, April 24th. Sixteen 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 stock. Based on data from MarketBeat, Check Point Software Technologies presently has a consensus rating of "Hold" and a consensus target price of $232.04.

Check Point Software Technologies 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.