Edgestream Partners L.P. Takes $252,000 Position in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Edgestream Partners L.P. bought a new stake in Check Point Software Technologies Ltd. (NASDAQ:CHKP) in the third quarter, HoldingsChannel.com reports. The institutional investor bought 1,306 shares of the technology company’s stock, valued at approximately $252,000.

Other institutional investors also recently bought and sold shares of the company. Bank of Montreal Can boosted its stake in shares of Check Point Software Technologies by 32.2% during the third quarter. Bank of Montreal Can now owns 85,639 shares of the technology company’s stock valued at $16,532,000 after purchasing an additional 20,866 shares during the period. CWA Asset Management Group LLC bought a new stake in Check Point Software Technologies during the 3rd quarter valued at $1,599,000. M&G Plc boosted its position in Check Point Software Technologies by 10.0% during the 2nd quarter. M&G Plc now owns 108,449 shares of the technology company’s stock valued at $17,894,000 after buying an additional 9,830 shares during the period. Milestone Asset Management LLC purchased a new stake in Check Point Software Technologies during the 2nd quarter valued at $1,357,000. Finally, Assenagon Asset Management S.A. grew its holdings in Check Point Software Technologies by 110.1% in the 2nd quarter. Assenagon Asset Management S.A. now owns 55,903 shares of the technology company’s stock worth $9,224,000 after acquiring an additional 29,298 shares during the last quarter. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

Check Point Software Technologies Price Performance

Shares of NASDAQ:CHKP opened at $186.82 on Friday. The company has a market capitalization of $20.55 billion, a PE ratio of 25.52, a PEG ratio of 3.19 and a beta of 0.63. The business has a fifty day moving average price of $188.59 and a 200-day moving average price of $179.03. Check Point Software Technologies Ltd. has a 1-year low of $143.28 and a 1-year high of $210.70.

Check Point Software Technologies (NASDAQ:CHKP) last issued its earnings results on Tuesday, October 29th. The technology company reported $2.25 earnings per share (EPS) for the quarter, hitting the consensus estimate of $2.25. Check Point Software Technologies had a net margin of 33.17% and a return on equity of 31.84%. The business had revenue of $635.10 million during the quarter, compared to analysts’ expectations of $634.96 million. During the same period in the previous year, the company earned $1.80 earnings per share. The business’s revenue for the quarter was up 6.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Check Point Software Technologies Ltd. will post 7.86 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Royal Bank of Canada reissued a “sector perform” rating and issued a $187.00 target price on shares of Check Point Software Technologies in a research note on Wednesday, October 30th. Wedbush lifted their price objective on Check Point Software Technologies from $200.00 to $230.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 9th. Barclays decreased their target price on Check Point Software Technologies from $210.00 to $200.00 and set an “equal weight” rating for the company in a report on Tuesday, October 29th. Truist Financial lifted their price target on shares of Check Point Software Technologies from $200.00 to $220.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Finally, Needham & Company LLC restated a “hold” rating on shares of Check Point Software Technologies in a report on Wednesday, October 30th. Fifteen research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $197.74.

Check Point Software Technologies Company 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.