Zurcher Kantonalbank Zurich Cantonalbank Increases Position in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 2.7% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 60,368 shares of the technology company’s stock after acquiring an additional 1,615 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.05% of Check Point Software Technologies worth $9,961,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CHKP. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Check Point Software Technologies during the 2nd quarter worth $30,000. Concord Wealth Partners bought a new stake in Check Point Software Technologies in the first quarter valued at about $31,000. Richardson Financial Services Inc. bought a new stake in Check Point Software Technologies in the fourth quarter valued at about $33,000. Y.D. More Investments Ltd raised its stake in Check Point Software Technologies by 37.0% during the fourth quarter. Y.D. More Investments Ltd now owns 500 shares of the technology company’s stock valued at $76,000 after buying an additional 135 shares in the last quarter. Finally, Annis Gardner Whiting Capital Advisors LLC bought a new position in Check Point Software Technologies during the 4th quarter worth approximately $92,000. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Check Point Software Technologies Price Performance

CHKP traded up $2.04 during trading on Thursday, reaching $191.61. 389,709 shares of the stock traded hands, compared to its average volume of 693,971. The stock’s 50-day simple moving average is $175.64 and its two-hundred day simple moving average is $164.20. Check Point Software Technologies Ltd. has a fifty-two week low of $126.57 and a fifty-two week high of $193.27. The stock has a market cap of $21.63 billion, a price-to-earnings ratio of 26.61, a price-to-earnings-growth ratio of 2.84 and a beta of 0.62.

Check Point Software Technologies (NASDAQ:CHKP) last issued its quarterly earnings data on Wednesday, July 24th. The technology company reported $2.17 earnings per share for the quarter, beating the consensus estimate of $2.16 by $0.01. Check Point Software Technologies had a net margin of 33.61% and a return on equity of 31.59%. The firm had revenue of $627.40 million for the quarter, compared to analyst estimates of $623.19 million. During the same quarter last year, the firm earned $1.74 earnings per share. The company’s revenue for the quarter was up 6.6% on a year-over-year basis. Research analysts anticipate that Check Point Software Technologies Ltd. will post 7.83 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Royal Bank of Canada increased their target price on shares of Check Point Software Technologies from $165.00 to $187.00 and gave the stock a “sector perform” rating in a report on Thursday, July 25th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Check Point Software Technologies from $175.00 to $185.00 and gave the stock a “hold” rating in a report on Thursday, July 25th. Needham & Company LLC reaffirmed a “hold” rating on shares of Check Point Software Technologies in a report on Thursday, July 25th. Truist Financial reissued a “buy” rating and issued a $200.00 price target (up previously from $175.00) on shares of Check Point Software Technologies in a report on Thursday, July 25th. Finally, Robert W. Baird upped their price objective on Check Point Software Technologies from $168.00 to $200.00 and gave the stock a “neutral” rating in a research note on Thursday, July 25th. Fifteen research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $183.68.

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.