Check Point Software Technologies Ltd. $CHKP Shares Purchased by Northwestern Mutual Wealth Management Co.

Key Points

• Northwestern Mutual Wealth Management Co. increased its stake in Check Point Software Technologies by 7.0%, acquiring an additional 1,723 shares, bringing its total holdings to 26,418 shares worth approximately $6.02 million.
• The company reported a quarterly earnings per share (EPS) of $2.37, exceeding the expected $2.36, with revenue of $665.20 million, marking a 6.0% increase year-over-year.
• Analysts have set various price targets for Check Point shares, with an average price target of $228.50 and a mix of ratings, including 1 Strong Buy and 11 Buy ratings.

Northwestern Mutual Wealth Management Co. lifted its stake in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP - Free Report) by 7.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 26,418 shares of the technology company's stock after buying an additional 1,723 shares during the quarter. Northwestern Mutual Wealth Management Co.'s holdings in Check Point Software Technologies were worth $6,021,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the stock. Assenagon Asset Management S.A. lifted its position in Check Point Software Technologies by 184.4% in the first quarter. Assenagon Asset Management S.A. now owns 57,690 shares of the technology company's stock valued at $13,149,000 after acquiring an additional 37,407 shares during the last quarter. Sowell Financial Services LLC acquired a new stake in shares of Check Point Software Technologies during the first quarter worth about $301,000. QRG Capital Management Inc. increased its position in shares of Check Point Software Technologies by 19.1% during the first quarter. QRG Capital Management Inc. now owns 2,442 shares of the technology company's stock worth $557,000 after purchasing an additional 391 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Check Point Software Technologies by 15.9% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,937 shares of the technology company's stock valued at $899,000 after purchasing an additional 541 shares during the last quarter. Finally, Penserra Capital Management LLC boosted its position in shares of Check Point Software Technologies by 5.6% in the 1st quarter. Penserra Capital Management LLC now owns 393,212 shares of the technology company's stock valued at $89,620,000 after purchasing an additional 20,812 shares during the period. 98.51% of the stock is owned by hedge funds and other institutional investors.

Check Point Software Technologies Stock Down 1.5%

NASDAQ:CHKP traded down $2.98 during midday trading on Tuesday, reaching $190.16. The stock had a trading volume of 915,251 shares, compared to its average volume of 830,458. The stock has a market cap of $20.91 billion, a P/E ratio of 24.76, a P/E/G ratio of 2.90 and a beta of 0.60. The firm has a fifty day simple moving average of $204.41 and a two-hundred day simple moving average of $215.35. Check Point Software Technologies Ltd. has a 12-month low of $169.01 and a 12-month high of $234.35.

Check Point Software Technologies (NASDAQ:CHKP - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The technology company reported $2.37 EPS for the quarter, topping analysts' consensus estimates of $2.36 by $0.01. The company had revenue of $665.20 million during the quarter, compared to the consensus estimate of $663.10 million. Check Point Software Technologies had a net margin of 32.48% and a return on equity of 33.21%. Check Point Software Technologies's quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.17 EPS. 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, sell-side analysts anticipate that Check Point Software Technologies Ltd. will post 8.61 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on CHKP. Wall Street Zen upgraded Check Point Software Technologies from a "hold" rating to a "buy" rating in a research note on Tuesday, May 13th. Citigroup lowered their target price on shares of Check Point Software Technologies from $230.00 to $200.00 and set a "neutral" rating on the stock in a research report on Monday, August 18th. UBS Group cut their target price on shares of Check Point Software Technologies from $220.00 to $210.00 and set a "neutral" rating on the stock in a report on Thursday, July 31st. Cantor Fitzgerald set a $220.00 price target on shares of Check Point Software Technologies and gave the company a "neutral" rating in a research report on Thursday, July 31st. Finally, Scotiabank lowered their price objective on shares of Check Point Software Technologies from $240.00 to $220.00 and set a "sector outperform" rating on the stock in a research report on Thursday, July 31st. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and fifteen have assigned a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $227.58.

About Check Point Software Technologies

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.