VIRGINIA RETIREMENT SYSTEMS ET Al Makes New Investment in Check Point Software Technologies Ltd. $CHKP

Key Points

• Virginia Retirement Systems ET Al acquired a new investment in Check Point Software Technologies, purchasing 164,400 shares valued at approximately $36.37 million in Q2 2023.
• Check Point Software Technologies reported an earnings per share (EPS) of $2.37 for Q2 2023, slightly exceeding expectations and reflecting a 6% year-over-year revenue increase to $665.20 million.
• Currently, Check Point Software Technologies has a consensus rating of "Hold" from analysts, with an average price target of $227.00.

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in Check Point Software Technologies Ltd. (NASDAQ:CHKP - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 164,400 shares of the technology company's stock, valued at approximately $36,374,000. VIRGINIA RETIREMENT SYSTEMS ET Al owned approximately 0.15% of Check Point Software Technologies as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CHKP. Koshinski Asset Management Inc. increased its holdings in Check Point Software Technologies by 3.6% during the second quarter. Koshinski Asset Management Inc. now owns 3,613 shares of the technology company's stock valued at $799,000 after buying an additional 125 shares during the period. Chevy Chase Trust Holdings LLC grew its holdings in shares of Check Point Software Technologies by 1.5% during the second quarter. Chevy Chase Trust Holdings LLC now owns 23,280 shares of the technology company's stock valued at $5,151,000 after buying an additional 334 shares during the last quarter. Stratos Wealth Partners LTD. acquired a new stake in shares of Check Point Software Technologies during the second quarter worth about $280,000. TD Asset Management Inc boosted its holdings in shares of Check Point Software Technologies by 33.3% in the 2nd quarter. TD Asset Management Inc now owns 52,945 shares of the technology company's stock valued at $11,714,000 after acquiring an additional 13,213 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund boosted its holdings in Check Point Software Technologies by 4.3% in the second quarter. Oregon Public Employees Retirement Fund now owns 49,830 shares of the technology company's stock valued at $11,025,000 after purchasing an additional 2,046 shares during the last quarter. 98.51% of the stock is currently owned by institutional investors.

Check Point Software Technologies Trading Up 1.2%

CHKP opened at $190.65 on Friday. The stock's 50-day moving average price is $194.73 and its 200 day moving average price is $209.36. Check Point Software Technologies Ltd. has a 12-month low of $169.01 and a 12-month high of $234.35. The firm has a market cap of $20.97 billion, a price-to-earnings ratio of 24.82, a PEG ratio of 2.87 and a beta of 0.60.

Check Point Software Technologies (NASDAQ:CHKP - Get Free Report) last posted its 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 firm 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 company earned $2.17 EPS. Check Point Software Technologies's revenue was up 6.0% on a year-over-year basis. 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, research analysts forecast that Check Point Software Technologies Ltd. will post 8.61 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Weiss Ratings restated a "hold (c+)" rating on shares of Check Point Software Technologies in a research report on Wednesday, October 8th. Royal Bank Of Canada decreased their target price on shares of 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. Stephens lowered their price target on shares of Check Point Software Technologies from $229.00 to $210.00 and set an "equal weight" rating on the stock in a research report on Thursday, July 31st. Morgan Stanley lowered their price objective on Check Point Software Technologies from $215.00 to $193.00 and set an "equal weight" rating for the company in a research report on Tuesday, September 2nd. Finally, Jefferies Financial Group cut their price objective on Check Point Software Technologies from $260.00 to $230.00 and set a "buy" rating for the company in a research report on Thursday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and seventeen have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Check Point Software Technologies currently has a consensus 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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