Portside Wealth Group LLC Buys New Position in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Portside Wealth Group LLC purchased a new position in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 1,172 shares of the technology company's stock, valued at approximately $267,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Nemes Rush Group LLC acquired a new position in shares of Check Point Software Technologies during the fourth quarter worth $25,000. Capital A Wealth Management LLC purchased a new stake in Check Point Software Technologies during the 4th quarter worth $29,000. Strategic Financial Concepts LLC acquired a new position in Check Point Software Technologies in the 4th quarter worth $35,000. Golden State Wealth Management LLC acquired a new position in Check Point Software Technologies in the 4th quarter worth $35,000. Finally, Quarry LP boosted its position in Check Point Software Technologies by 100.0% in the 4th quarter. Quarry LP now owns 206 shares of the technology company's stock valued at $38,000 after buying an additional 103 shares during the last quarter. Hedge funds and other institutional investors own 98.51% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Jefferies Financial Group boosted their price target on Check Point Software Technologies from $250.00 to $255.00 and gave the stock a "buy" rating in a research note on Thursday, February 27th. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $215.00 target price on shares of Check Point Software Technologies in a research report on Thursday, February 27th. Wells Fargo & Company reduced their target price on Check Point Software Technologies from $280.00 to $265.00 and set an "overweight" rating for the company in a research note on Thursday, April 24th. Baird R W upgraded shares of Check Point Software Technologies from a "hold" rating to a "strong-buy" rating in a research note on Thursday, February 27th. Finally, Robert W. Baird raised shares of Check Point Software Technologies from a "neutral" rating to an "outperform" rating and upped their price target for the company from $235.00 to $255.00 in a report on Thursday, February 27th. Sixteen equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Check Point Software Technologies currently has an average rating of "Hold" and a consensus target price of $232.04.

Check Point Software Technologies Trading Up 0.1%

Shares of NASDAQ:CHKP opened at $231.11 on Friday. The firm's 50 day moving average is $219.16 and its two-hundred day moving average is $208.31. The firm has a market capitalization of $25.42 billion, a P/E ratio of 30.94, a PEG ratio of 3.41 and a beta of 0.66. Check Point Software Technologies Ltd. has a 52 week low of $152.91 and a 52 week high of $234.36.

Check Point Software Technologies (NASDAQ:CHKP - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The technology company reported $2.21 EPS for the quarter, beating the consensus estimate of $2.19 by $0.02. The firm had revenue of $637.80 million for the quarter, compared to analysts' expectations of $635.80 million. Check Point Software Technologies had a return on equity of 32.40% and a net margin of 32.97%. The firm's revenue was up 6.5% compared to the same quarter last year. During the same period last year, the firm earned $2.04 EPS. Analysts predict that Check Point Software Technologies Ltd. will post 8.61 EPS for the current 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.

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