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

Merit Financial Group LLC raised its stake in Check Point Software Technologies Ltd. (NASDAQ:CHKP - Free Report) by 9.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (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 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. World Investment Advisors raised its stake in Check Point Software Technologies by 4.4% during the fourth quarter. World Investment Advisors now owns 30,041 shares of the technology company's stock worth $5,609,000 after acquiring an additional 1,278 shares in the last quarter. Crux Wealth Advisors acquired a new position in shares of Check Point Software Technologies in the fourth quarter valued at approximately $542,000. Truist Financial Corp increased its stake in shares of Check Point Software Technologies by 2.6% in the fourth quarter. Truist Financial Corp now owns 119,504 shares of the technology company's stock valued at $22,311,000 after buying an additional 3,080 shares during the period. Vestmark Advisory Solutions Inc. increased its stake in shares of Check Point Software Technologies by 99.3% in the fourth quarter. Vestmark Advisory Solutions Inc. now owns 4,973 shares of the technology company's stock valued at $928,000 after buying an additional 2,478 shares during the period. Finally, Hickory Asset Management Inc. acquired a new position in shares of Check Point Software Technologies in the fourth quarter valued at approximately $476,000. 98.51% of the stock is currently owned by institutional investors and hedge funds.

Check Point Software Technologies Stock Performance

Shares of Check Point Software Technologies stock traded up $2.36 on Friday, reaching $233.47. 429,110 shares of the company's stock were exchanged, compared to its average volume of 780,962. The company has a market capitalization of $25.68 billion, a P/E ratio of 31.25, a price-to-earnings-growth 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 $234.36. The firm's 50-day moving average is $219.21 and its two-hundred day moving average is $209.13.

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 (EPS) for the quarter, topping analysts' consensus estimates of $2.19 by $0.02. Check Point Software Technologies had a return on equity of 32.40% and a net margin of 32.97%. The company had revenue of $637.80 million for the quarter, compared to analysts' expectations of $635.80 million. During the same period last year, the business earned $2.04 EPS. Check Point Software Technologies's quarterly revenue was up 6.5% compared to the same quarter last year. On average, analysts expect that Check Point Software Technologies Ltd. will post 8.61 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently issued reports on CHKP shares. Arete Research raised Check Point Software Technologies to a "hold" rating in a research note on Monday, February 24th. Wedbush reissued an "outperform" rating and set a $240.00 target price on shares of Check Point Software Technologies in a research report on Thursday, April 24th. Bank of America raised shares of Check Point Software Technologies from a "neutral" rating to a "buy" rating and increased their target price for the company from $230.00 to $260.00 in a research report on Thursday, March 27th. Stephens decreased their target price on shares of Check Point Software Technologies from $255.00 to $229.00 and set an "equal weight" rating for the company in a research report on Thursday, April 24th. Finally, Scotiabank decreased their target price on shares of Check Point Software Technologies from $250.00 to $240.00 and set a "sector outperform" rating for the company in a research report on Thursday, April 24th. Sixteen analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average 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.