Concentric Capital Strategies LP Decreases Stock Holdings in Check Point Software Technologies Ltd. $CHKP

Key Points

• Concentric Capital Strategies LP reduced its stake in Check Point Software Technologies by 63.5%, selling 32,395 shares and ending up with 18,618 shares valued at approximately $4.24 million.
• Analysts have mixed ratings for Check Point, with one strong buy, eleven buys, and fifteen holds, and a consensus target price of $227.58 after recent price adjustments.
• Check Point reported earnings of $2.37 per share for the last quarter, exceeding estimates, with a year-over-year revenue increase of 6.0%.

Concentric Capital Strategies LP cut its holdings in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP - Free Report) by 63.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,618 shares of the technology company's stock after selling 32,395 shares during the period. Concentric Capital Strategies LP's holdings in Check Point Software Technologies were worth $4,243,000 at the end of the most recent reporting period.

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

Analysts Set New Price Targets

CHKP has been the topic of a number of research reports. Barclays set a $215.00 price objective on shares of Check Point Software Technologies and gave the stock an "equal weight" rating in a report on Thursday, July 31st. Wall Street Zen raised Check Point Software Technologies from a "hold" rating to a "buy" rating in a research report on Tuesday, May 13th. Mizuho lifted their price objective on Check Point Software Technologies from $230.00 to $240.00 and gave the company a "neutral" rating in a research report on Monday, June 16th. Royal Bank Of Canada lowered their price objective on Check Point Software Technologies from $224.00 to $207.00 and set a "sector perform" rating on the stock in a research report on Thursday, July 31st. Finally, Stifel Nicolaus set a $200.00 price objective on Check Point Software Technologies in a research report on Wednesday, July 30th. One investment 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. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $227.58.

Check Point Software Technologies Price Performance

Shares of Check Point Software Technologies stock traded up $2.32 during trading on Friday, reaching $193.09. 1,170,080 shares of the stock traded hands, compared to its average volume of 742,507. The company has a market capitalization of $21.24 billion, a price-to-earnings ratio of 25.14, a P/E/G ratio of 2.90 and a beta of 0.60. The business has a fifty day simple moving average of $202.83 and a two-hundred day simple moving average of $214.72. Check Point Software Technologies Ltd. has a 52-week low of $169.01 and a 52-week high of $234.35.

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 for the quarter, beating analysts' consensus estimates of $2.36 by $0.01. The firm had revenue of $665.20 million during the quarter, compared to analyst estimates of $663.10 million. Check Point Software Technologies had a return on equity of 33.21% and a net margin of 32.48%.The business's quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter last year, the business posted $2.17 earnings per share. 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, research analysts predict that Check Point Software Technologies Ltd. will post 8.61 earnings per share for the current fiscal year.

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.