Smith Group Asset Management LLC Has $7.76 Million Stock Position in Check Point Software Technologies Ltd. $CHKP

Key Points

• Smith Group Asset Management LLC increased its stake in Check Point Software Technologies Ltd. by 4.9%, owning a total of 35,078 shares valued at approximately $7.76 million.
• Institutional investors now hold 98.51% of Check Point's stock, with other notable increases in stake from firms like Victory Capital Management and Invesco, showing significant investor confidence in the company.
• The company's recent earnings report revealed an EPS of $2.37, surpassing expectations, with revenue growth of 6.0% year-over-year, and analysts predict further growth in the upcoming fiscal year.

Smith Group Asset Management LLC lifted its stake in Check Point Software Technologies Ltd. (NASDAQ:CHKP - Free Report) by 4.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 35,078 shares of the technology company's stock after acquiring an additional 1,635 shares during the period. Smith Group Asset Management LLC's holdings in Check Point Software Technologies were worth $7,761,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CHKP. Victory Capital Management Inc. increased its stake in Check Point Software Technologies by 2,704.5% during the first quarter. Victory Capital Management Inc. now owns 1,304,551 shares of the technology company's stock valued at $297,333,000 after acquiring an additional 1,258,034 shares during the period. Invesco Ltd. increased its position in shares of Check Point Software Technologies by 737.5% during the first quarter. Invesco Ltd. now owns 982,986 shares of the technology company's stock valued at $224,042,000 after purchasing an additional 865,608 shares during the period. Westfield Capital Management Co. LP increased its position in shares of Check Point Software Technologies by 214.6% during the first quarter. Westfield Capital Management Co. LP now owns 864,717 shares of the technology company's stock valued at $197,086,000 after purchasing an additional 589,816 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Check Point Software Technologies by 43.5% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,483,714 shares of the technology company's stock valued at $338,168,000 after purchasing an additional 450,099 shares during the period. Finally, Bank of New York Mellon Corp increased its position in shares of Check Point Software Technologies by 182.0% during the first quarter. Bank of New York Mellon Corp now owns 627,489 shares of the technology company's stock valued at $143,017,000 after purchasing an additional 404,958 shares during the period. 98.51% of the stock is currently owned by institutional investors.

Check Point Software Technologies Stock Performance

Shares of CHKP stock opened at $193.56 on Friday. The stock's fifty day moving average is $195.59 and its 200-day moving average is $208.77. The stock has a market capitalization of $21.29 billion, a PE ratio of 25.20, a PEG ratio of 2.93 and a beta of 0.60. Check Point Software Technologies Ltd. has a 52 week low of $169.01 and a 52 week high of $234.35.

Check Point Software Technologies (NASDAQ:CHKP - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The technology company reported $2.37 earnings per share (EPS) for the quarter, beating 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 quarter in the prior year, the firm posted $2.17 earnings per share. The firm'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. As a group, analysts forecast that Check Point Software Technologies Ltd. will post 8.61 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on CHKP. Barclays boosted their price objective on Check Point Software Technologies from $215.00 to $220.00 and gave the company an "equal weight" rating in a research report on Tuesday, October 14th. Stifel Nicolaus set a $200.00 price target on Check Point Software Technologies in a research note on Wednesday, July 30th. Wells Fargo & Company decreased 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 note on Thursday, July 31st. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Check Point Software Technologies in a research note on Wednesday, October 8th. Finally, Scotiabank set a $205.00 price target on Check Point Software Technologies and gave the company a "sector perform" rating in a research note on Monday, October 6th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and seventeen have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $227.00.

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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