Vident Advisory LLC Purchases 132,577 Shares of Check Point Software Technologies Ltd. $CHKP

Key Points

• Vident Advisory LLC increased its holdings in Check Point Software Technologies by 121.2% during the first quarter, acquiring an additional 132,577 shares, which brings their total ownership to 241,994 shares valued at approximately $55.16 million.
• Check Point Software Technologies reported a quarterly earnings per share (EPS) of $2.37, beating analyst estimates, and saw a 6.0% increase in revenue year-over-year, amounting to $665.2 million.
• Analysts have varied price targets for Check Point, with the consensus rating being a "Hold" and an average target price of $228.50, while Stephens recently lowered their target to $210.00.

Vident Advisory LLC grew its position in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP - Free Report) by 121.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 241,994 shares of the technology company's stock after acquiring an additional 132,577 shares during the quarter. Check Point Software Technologies accounts for approximately 0.8% of Vident Advisory LLC's portfolio, making the stock its 21st largest holding. Vident Advisory LLC owned about 0.22% of Check Point Software Technologies worth $55,155,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Capital A Wealth Management LLC purchased a new position in Check Point Software Technologies during the 4th quarter worth $29,000. Horizon Investments LLC boosted its holdings in Check Point Software Technologies by 116.4% during the 1st quarter. Horizon Investments LLC now owns 158 shares of the technology company's stock worth $36,000 after acquiring an additional 85 shares during the last quarter. Cromwell Holdings LLC purchased a new position in Check Point Software Technologies during the 1st quarter worth $37,000. Abound Financial LLC purchased a new position in Check Point Software Technologies during the 1st quarter worth $40,000. Finally, TruNorth Capital Management LLC purchased a new position in Check Point Software Technologies during the 1st quarter worth $45,000. 98.51% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have issued reports on CHKP. Stephens cut their price objective on shares of Check Point Software Technologies from $229.00 to $210.00 and set an "equal weight" rating on the stock in a report on Thursday, July 31st. Scotiabank cut 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 report on Thursday, July 31st. UBS Group lowered their target price on Check Point Software Technologies from $220.00 to $210.00 and set a "neutral" rating on the stock in a research note on Thursday, July 31st. Citigroup lowered their target price on Check Point Software Technologies from $230.00 to $200.00 and set a "neutral" rating on the stock in a research note on Monday, August 18th. Finally, Royal Bank Of Canada lowered their target price on Check Point Software Technologies from $224.00 to $207.00 and set a "sector perform" rating on the stock in a research note 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 MarketBeat.com, Check Point Software Technologies currently has a consensus rating of "Hold" and an average target price of $227.58.

Check Point Software Technologies Stock Up 0.3%

Check Point Software Technologies stock traded up $0.52 during midday trading on Wednesday, reaching $190.68. The stock had a trading volume of 163,989 shares, compared to its average volume of 920,883. Check Point Software Technologies Ltd. has a 12 month low of $169.01 and a 12 month high of $234.35. The firm's 50-day moving average price is $204.41 and its 200 day moving average price is $215.35. The firm has a market capitalization of $20.97 billion, a PE ratio of 24.84, a P/E/G ratio of 2.90 and a beta of 0.60.

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 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 analysts' expectations of $663.10 million. During the same period in the previous year, the business posted $2.17 EPS. The firm's quarterly revenue 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. Equities research analysts expect 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.