Meyer Handelman Co. Buys 3,850 Shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Meyer Handelman Co. raised its position in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP - Free Report) by 9.3% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 45,239 shares of the technology company's stock after buying an additional 3,850 shares during the period. Meyer Handelman Co.'s holdings in Check Point Software Technologies were worth $10,311,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Barclays PLC lifted its position in shares of Check Point Software Technologies by 6.0% in the 3rd quarter. Barclays PLC now owns 80,432 shares of the technology company's stock worth $15,507,000 after purchasing an additional 4,522 shares during the period. Janney Montgomery Scott LLC lifted its position in shares of Check Point Software Technologies by 0.5% in the 4th quarter. Janney Montgomery Scott LLC now owns 22,417 shares of the technology company's stock worth $4,185,000 after purchasing an additional 110 shares during the period. Exchange Traded Concepts LLC lifted its position in shares of Check Point Software Technologies by 142.7% in the 4th quarter. Exchange Traded Concepts LLC now owns 233 shares of the technology company's stock worth $44,000 after purchasing an additional 137 shares during the period. Pacer Advisors Inc. lifted its position in shares of Check Point Software Technologies by 19.2% in the 4th quarter. Pacer Advisors Inc. now owns 3,383 shares of the technology company's stock worth $632,000 after purchasing an additional 544 shares during the period. Finally, Perigon Wealth Management LLC lifted its position in shares of Check Point Software Technologies by 9.8% in the 4th quarter. Perigon Wealth Management LLC now owns 1,161 shares of the technology company's stock worth $217,000 after purchasing an additional 104 shares during the period. Institutional investors own 98.51% of the company's stock.

Check Point Software Technologies Price Performance

Shares of CHKP traded up $1.01 on Monday, reaching $229.89. The company's stock had a trading volume of 474,315 shares, compared to its average volume of 781,012. The stock has a market capitalization of $25.28 billion, a P/E ratio of 30.78, a PEG ratio of 3.41 and a beta of 0.66. The stock's 50 day simple moving average is $219.04 and its two-hundred day simple moving average is $207.21. Check Point Software Technologies Ltd. has a 12-month low of $148.33 and a 12-month high of $234.36.

Check Point Software Technologies (NASDAQ:CHKP - Get Free Report) last posted its quarterly earnings data 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 net margin of 32.97% and a return on equity of 32.40%. The company had revenue of $637.80 million for the quarter, compared to the consensus estimate of $635.80 million. During the same quarter last year, the firm posted $2.04 earnings per share. The firm's revenue was up 6.5% compared to the same quarter last year. Analysts expect that Check Point Software Technologies Ltd. will post 8.61 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Bank of America raised shares of Check Point Software Technologies from a "neutral" rating to a "buy" rating and raised their target price for the stock from $230.00 to $260.00 in a research report on Thursday, March 27th. Scotiabank lowered their price target 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. Needham & Company LLC reissued a "hold" rating on shares of Check Point Software Technologies in a research report on Thursday, February 27th. Baird R W raised shares of Check Point Software Technologies from a "hold" rating to a "strong-buy" rating in a research report on Thursday, February 27th. Finally, Royal Bank of Canada reissued a "sector perform" rating and set a $215.00 price target on shares of Check Point Software Technologies in a research report on Thursday, February 27th. Sixteen equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $232.04.

Check Point Software Technologies Company 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.