Sowell Financial Services LLC Purchases New Position in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Sowell Financial Services LLC bought a new position in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 1,321 shares of the technology company's stock, valued at approximately $301,000.

Other institutional investors also recently modified their holdings of the company. Optas LLC bought a new position in Check Point Software Technologies in the 1st quarter valued at approximately $201,000. Aries Wealth Management boosted its stake in shares of Check Point Software Technologies by 21.8% during the first quarter. Aries Wealth Management now owns 2,543 shares of the technology company's stock valued at $580,000 after purchasing an additional 456 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in shares of Check Point Software Technologies by 149.7% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 12,827 shares of the technology company's stock valued at $2,924,000 after acquiring an additional 7,691 shares during the last quarter. RMR Wealth Builders bought a new position in Check Point Software Technologies during the 1st quarter worth $293,000. Finally, NorthCrest Asset Manangement LLC lifted its holdings in Check Point Software Technologies by 0.5% during the 1st quarter. NorthCrest Asset Manangement LLC now owns 73,335 shares of the technology company's stock worth $16,715,000 after buying an additional 372 shares during the period. Institutional investors own 98.51% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Robert W. Baird upgraded Check Point Software Technologies from a "neutral" rating to an "outperform" rating and raised their price objective for the stock from $235.00 to $255.00 in a research report on Thursday, February 27th. Bank of America raised shares of Check Point Software Technologies from a "neutral" rating to a "buy" rating and upped their price objective for the company from $230.00 to $260.00 in a research note on Thursday, March 27th. Wall Street Zen raised shares of Check Point Software Technologies from a "hold" rating to a "buy" rating in a research note on Tuesday, May 13th. Wedbush reiterated an "outperform" rating and set a $240.00 price target on shares of Check Point Software Technologies in a report on Thursday, April 24th. Finally, BMO Capital Markets reissued an "outperform" rating and issued a $250.00 price objective on shares of Check Point Software Technologies in a research note on Wednesday, April 23rd. Sixteen equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $232.44.

Check Point Software Technologies Stock Performance

CHKP traded down $0.63 during midday trading on Wednesday, reaching $218.93. The company had a trading volume of 449,934 shares, compared to its average volume of 787,284. Check Point Software Technologies Ltd. has a 12-month low of $153.88 and a 12-month high of $234.36. The business has a 50-day moving average price of $220.17 and a two-hundred day moving average price of $212.08. The stock has a market cap of $24.08 billion, a PE ratio of 28.88, a P/E/G ratio of 3.14 and a beta of 0.66.

Check Point Software Technologies (NASDAQ:CHKP - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The technology company reported $2.21 earnings per share for the quarter, beating the consensus estimate of $2.19 by $0.02. Check Point Software Technologies had a return on equity of 32.88% and a net margin of 32.75%. The business had revenue of $637.80 million during the quarter, compared to analyst estimates of $635.80 million. During the same period in the prior year, the company earned $2.04 earnings per share. Check Point Software Technologies's revenue was up 6.5% compared to the same quarter last year. On average, research analysts anticipate that Check Point Software Technologies Ltd. will post 8.61 earnings per share for the current year.

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.