Hohimer Wealth Management LLC Acquires New Position in Check Point Software Technologies Ltd. $CHKP

Key Points

• Hohimer Wealth Management initiated a position in Check Point Software Technologies, buying 18,761 shares worth about $2.41 million in the third quarter.
• Check Point reported quarterly EPS of $2.49, slightly above estimates, while revenue of $669.8 million missed expectations and declined 1.1% year over year.
• Analysts’ consensus rating is Hold, with an average price target of $151.32; institutional investors collectively own 98.51% of the stock.

Hohimer Wealth Management LLC bought a new position in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP - Free Report) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 18,761 shares of the technology company's stock, valued at approximately $2,408,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CHKP. JNBA Financial Advisors raised its holdings in Check Point Software Technologies by 90.0% in the 2nd quarter. JNBA Financial Advisors now owns 190 shares of the technology company's stock valued at $25,000 after acquiring an additional 90 shares during the last quarter. Ascentis Independent Advisors acquired a new stake in shares of Check Point Software Technologies during the first quarter worth $30,000. Elevation Wealth Partners LLC grew its position in shares of Check Point Software Technologies by 42.7% in the second quarter. Elevation Wealth Partners LLC now owns 254 shares of the technology company's stock valued at $33,000 after purchasing an additional 76 shares during the period. Western Wealth Management LLC purchased a new stake in shares of Check Point Software Technologies in the first quarter valued at $33,000. Finally, Oslo Pensjonsforsikring AS purchased a new stake in shares of Check Point Software Technologies in the first quarter valued at $36,000. 98.51% of the stock is owned by hedge funds and other institutional investors.

Check Point Software Technologies Stock Performance

Check Point Software Technologies stock opened at $143.96 on Tuesday. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.67 and a current ratio of 1.60. Check Point Software Technologies Ltd. has a one year low of $112.23 and a one year high of $206.43. The stock's 50 day moving average price is $138.91 and its 200 day moving average price is $140.58. The firm has a market capitalization of $14.70 billion, a PE ratio of 17.32, a price-to-earnings-growth ratio of 4.22 and a beta of 0.43.

Check Point Software Technologies (NASDAQ:CHKP - Get Free Report) last posted its earnings results on Monday, November 2nd. The technology company reported $2.49 EPS for the quarter, topping analysts' consensus estimates of $2.48 by $0.01. The business had revenue of $669.80 million for the quarter, compared to analysts' expectations of $672.06 million. Check Point Software Technologies had a net margin of 31.74% and a return on equity of 34.08%. The business's revenue for the quarter was down 1.1% compared to the same quarter last year. During the same period in the previous year, the company posted $3.94 earnings per share. As a group, sell-side analysts expect that Check Point Software Technologies Ltd. will post 8.37 EPS for the current fiscal year.

Insider Buying and Selling at Check Point Software Technologies

In other news, insider Nataly Kremer sold 3,185 shares of Check Point Software Technologies stock in a transaction dated Thursday, October 22nd. The stock was sold at an average price of $150.08, for a total transaction of $478,004.80. Following the sale, the insider directly owned 19,347 shares of the company's stock, valued at approximately $2,903,597.76. The trade was a 14.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 29.00% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Morgan Stanley reduced their target price on Check Point Software Technologies from $133.00 to $131.00 and set an "equal weight" rating on the stock in a research report on Tuesday, November 3rd. Mizuho lifted their price target on Check Point Software Technologies from $135.00 to $145.00 and gave the company a "neutral" rating in a report on Thursday, October 15th. Roth Capital set a $105.00 price target on Check Point Software Technologies in a report on Friday, July 31st. Yorkville Ives assumed coverage on shares of Check Point Software Technologies in a research note on Wednesday, October 7th. They set an "outperform" rating and a $150.00 price objective for the company. Finally, Wedbush lowered shares of Check Point Software Technologies from an "outperform" rating to a "neutral" rating and set a $135.00 price objective on the stock. in a report on Thursday, September 10th. Ten analysts have rated the stock with a Buy rating and twenty have issued a Hold rating to the company's stock. According to MarketBeat.com, Check Point Software Technologies presently has an average rating of "Hold" and a consensus target price of $151.32.

Check Point Software Technologies Profile

Check Point Software Technologies is a cybersecurity company that develops products and services to protect organizations' networks, cloud environments, devices, and users. Its offerings include network security appliances and software, cloud security tools, endpoint and workspace protection, and centralized security management.

The company's product families include Quantum for network security, CloudGuard for cloud security, and Harmony for user and endpoint protection. Check Point also provides threat prevention, security research, and related support services to businesses and other organizations around the world.

Founded in 1993, Check Point is headquartered in Tel Aviv, Israel, and serves customers internationally.

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