Perpetual Ltd Reduces Stake in Check Point Software Technologies Ltd. $CHKP

Key Points

• Perpetual Ltd reduced its holdings in Check Point Software Technologies (CHKP) by 5.8%, owning approximately 480,370 shares valued at $106.28 million as of the latest SEC filing.
• Check Point reported $2.37 earnings per share for the last quarter, exceeding the consensus estimate by $0.01, with a revenue of $665.20 million, a 6% increase year-over-year.
• Analysts have set an average target price of $227.58 on CHKP, with reports showing a mix of ratings: 1 Strong Buy, 11 Buy, and 15 Hold ratings.

Perpetual Ltd trimmed its position in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP - Free Report) by 5.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 480,370 shares of the technology company's stock after selling 29,600 shares during the quarter. Check Point Software Technologies makes up 1.2% of Perpetual Ltd's holdings, making the stock its 21st biggest holding. Perpetual Ltd owned approximately 0.44% of Check Point Software Technologies worth $106,282,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Capital A Wealth Management LLC acquired a new position in shares of Check Point Software Technologies in the fourth quarter worth approximately $29,000. Horizon Investments LLC increased its holdings in shares of Check Point Software Technologies by 116.4% during the first quarter. Horizon Investments LLC now owns 158 shares of the technology company's stock valued at $36,000 after acquiring an additional 85 shares in the last quarter. Cromwell Holdings LLC bought a new stake in Check Point Software Technologies during the first quarter worth $37,000. Abound Financial LLC bought a new stake in Check Point Software Technologies during the first quarter worth $40,000. Finally, TruNorth Capital Management LLC bought a new stake in Check Point Software Technologies during the first quarter worth $45,000. 98.51% of the stock is owned by institutional investors and hedge funds.

Check Point Software Technologies Stock Performance

CHKP traded up $0.87 on Tuesday, hitting $201.96. 361,316 shares of the company were exchanged, compared to its average volume of 909,546. The firm has a fifty day simple moving average of $197.26 and a two-hundred day simple moving average of $212.89. Check Point Software Technologies Ltd. has a 12 month low of $169.01 and a 12 month high of $234.35. The stock has a market capitalization of $22.21 billion, a PE ratio of 26.30, a price-to-earnings-growth ratio of 2.98 and a beta of 0.60.

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

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CHKP. Stifel Nicolaus set a $200.00 price objective on Check Point Software Technologies in a research note on Wednesday, July 30th. Royal Bank Of Canada reduced their price objective on Check Point Software Technologies from $224.00 to $207.00 and set a "sector perform" rating for the company in a research note on Thursday, July 31st. Scotiabank reduced their price objective on Check Point Software Technologies from $240.00 to $220.00 and set a "sector outperform" rating for the company in a research note on Thursday, July 31st. Wells Fargo & Company dropped their price target on Check Point Software Technologies from $265.00 to $225.00 and set an "overweight" rating on the stock in a research report on Thursday, July 31st. Finally, Barclays set a $215.00 price target on Check Point Software Technologies and gave the company an "equal weight" rating 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 given a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price 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.