Wealth Alliance LLC Purchases New Position in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Wealth Alliance LLC purchased a new position in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 2,054 shares of the technology company's stock, valued at approximately $468,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CHKP. Norges Bank acquired a new position in shares of Check Point Software Technologies in the 4th quarter valued at $428,820,000. Causeway Capital Management LLC boosted its holdings in shares of Check Point Software Technologies by 33.8% in the 4th quarter. Causeway Capital Management LLC now owns 1,929,604 shares of the technology company's stock valued at $360,257,000 after buying an additional 487,823 shares in the last quarter. First Trust Advisors LP boosted its holdings in shares of Check Point Software Technologies by 17.4% in the 4th quarter. First Trust Advisors LP now owns 1,822,787 shares of the technology company's stock valued at $340,314,000 after buying an additional 269,925 shares in the last quarter. Robeco Institutional Asset Management B.V. boosted its holdings in shares of Check Point Software Technologies by 2.8% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 1,687,393 shares of the technology company's stock valued at $384,591,000 after buying an additional 46,713 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its holdings in shares of Check Point Software Technologies by 10.6% in the 4th quarter. Ameriprise Financial Inc. now owns 1,429,724 shares of the technology company's stock valued at $266,930,000 after buying an additional 136,699 shares in the last quarter. Institutional investors and hedge funds own 98.51% of the company's stock.

Check Point Software Technologies Price Performance

Shares of NASDAQ CHKP traded down $0.39 during midday trading on Friday, reaching $221.62. 156,816 shares of the company traded hands, compared to its average volume of 878,932. The stock has a 50-day moving average price of $222.82 and a 200 day moving average price of $217.06. Check Point Software Technologies Ltd. has a 52 week low of $169.01 and a 52 week high of $234.35. The company has a market cap of $24.37 billion, a price-to-earnings ratio of 29.24, a PEG ratio of 3.19 and a beta of 0.64.

Check Point Software Technologies (NASDAQ:CHKP - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The technology company reported $2.21 earnings per share for the quarter, topping analysts' consensus estimates 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 firm had revenue of $637.80 million for the quarter, compared to analysts' expectations of $635.80 million. During the same quarter last year, the business posted $2.04 EPS. Check Point Software Technologies's revenue was up 6.5% on a year-over-year basis. As a group, analysts expect that Check Point Software Technologies Ltd. will post 8.61 EPS for the current year.

Wall Street Analyst Weigh In

CHKP has been the subject of several research analyst reports. Jefferies Financial Group upped their target price on shares of Check Point Software Technologies from $255.00 to $260.00 and gave the company a "buy" rating in a report on Thursday. Cantor Fitzgerald upped their price target on shares of Check Point Software Technologies from $220.00 to $230.00 and gave the company a "neutral" rating in a research report on Wednesday, July 16th. Morgan Stanley reduced their price target on shares of Check Point Software Technologies from $235.00 to $220.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 16th. Wall Street Zen upgraded shares of Check Point Software Technologies from a "hold" rating to a "buy" rating in a research report on Tuesday, May 13th. Finally, Mizuho upped their price target on shares of Check Point Software Technologies from $230.00 to $240.00 and gave the company a "neutral" rating in a research report on Monday, June 16th. Sixteen analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $234.44.

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.