24,508 Shares in Check Point Software Technologies Ltd. $CHKP Purchased by First Nebraska Trust Co

First Nebraska Trust Co purchased a new stake in Check Point Software Technologies Ltd. (NASDAQ:CHKP) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 24,508 shares of the technology company’s stock, valued at approximately $3,146,000.

Other institutional investors have also modified their holdings of the company. Park Avenue Securities LLC boosted its holdings in Check Point Software Technologies by 4.0% in the third quarter. Park Avenue Securities LLC now owns 1,800 shares of the technology company’s stock valued at $231,000 after purchasing an additional 69 shares during the period. Elevation Wealth Partners LLC grew its stake in Check Point Software Technologies by 42.7% during the 2nd quarter. Elevation Wealth Partners LLC now owns 254 shares of the technology company’s stock worth $33,000 after purchasing an additional 76 shares in the last quarter. Yousif Capital Management LLC increased its holdings in Check Point Software Technologies by 2.0% during the 3rd quarter. Yousif Capital Management LLC now owns 3,839 shares of the technology company’s stock worth $493,000 after purchasing an additional 77 shares during the period. Aprio Wealth Management LLC increased its holdings in Check Point Software Technologies by 3.9% during the 3rd quarter. Aprio Wealth Management LLC now owns 2,116 shares of the technology company’s stock worth $272,000 after purchasing an additional 79 shares during the period. Finally, JNBA Financial Advisors increased its holdings in Check Point Software Technologies by 90.0% during the 2nd quarter. JNBA Financial Advisors now owns 190 shares of the technology company’s stock worth $25,000 after purchasing an additional 90 shares during the period. Institutional investors and hedge funds own 98.51% of the company’s stock.

Check Point Software Technologies Stock Performance

Shares of CHKP opened at $142.28 on Wednesday. The company has a market capitalization of $14.53 billion, a price-to-earnings ratio of 17.12, a price-to-earnings-growth ratio of 4.05 and a beta of 0.43. Check Point Software Technologies Ltd. has a 52-week low of $112.23 and a 52-week high of $206.43. The company has a quick ratio of 1.67, a current ratio of 1.67 and a debt-to-equity ratio of 0.72. The stock has a 50 day moving average price of $137.84 and a 200 day moving average price of $141.29.

Check Point Software Technologies (NASDAQ:CHKP) last released its quarterly earnings data on Monday, November 2nd. The technology company reported $2.49 earnings per share for the quarter, topping analysts’ consensus estimates of $2.48 by $0.01. The company had revenue of $669.80 million for the quarter, compared to analysts’ expectations of $672.06 million. Check Point Software Technologies had a net margin of 31.74% and a return on equity of 33.56%. The firm’s revenue for the quarter was down 1.1% on a year-over-year basis. During the same quarter last year, the company earned $3.94 earnings per share. Research analysts predict that Check Point Software Technologies Ltd. will post 8.45 EPS for the current fiscal year.

Insider Activity

In related news, insider Nataly Kremer sold 3,185 shares of the stock in a transaction on Thursday, October 22nd. The shares were sold at an average price of $150.08, for a total value of $478,004.80. Following the transaction, the insider directly owned 19,347 shares of the company’s stock, valued at $2,903,597.76. This trade represents a 14.14% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 29.00% of the company’s stock.

Wall Street Analysts Forecast Growth

CHKP has been the topic of a number of analyst reports. Citigroup increased their price target on Check Point Software Technologies from $130.00 to $145.00 and gave the company a “neutral” rating in a research report on Tuesday. JPMorgan Chase & Co. lowered their price objective on Check Point Software Technologies from $167.00 to $155.00 and set a “neutral” rating for the company in a research report on Tuesday. Compass Point set a $135.00 target price on shares of Check Point Software Technologies in a research note on Monday, July 27th. Yorkville Ives initiated coverage on shares of Check Point Software Technologies in a report on Wednesday, October 7th. They issued an “outperform” rating and a $150.00 target price on the stock. Finally, Barclays lifted their price target on shares of Check Point Software Technologies from $140.00 to $155.00 and gave the stock an “equal weight” rating in a research note on Tuesday. Ten investment analysts have rated the stock with a Buy rating and twenty have issued a Hold rating to the stock. According to MarketBeat.com, Check Point Software Technologies presently has an average rating of “Hold” and a consensus target price of $151.32.

Key Stories Impacting Check Point Software Technologies

Here are the key news stories impacting Check Point Software Technologies this week:

• Positive Sentiment: Jefferies kept its “buy” rating and sees a $175 price target, while Robert W. Baird maintained “outperform” with a $170 target. Both targets were reduced, but still imply meaningful upside from the reference price.
• Positive Sentiment: Cloud-based subscription revenue grew 11% in Q3, supporting the view that the company’s transition to recurring offerings could help drive a turnaround. Check Point also appointed Adam Ely as chief business officer to lead its company-wide growth strategy. Check Point’s turnaround analysis Chief business officer appointment
• Neutral Sentiment: Analyst reactions were mixed. Citigroup, JPMorgan, UBS, Barclays and RBC adjusted targets, but retained neutral, equal-weight or sector-perform stances. Their new targets range from $140 to $155, signaling limited near-term conviction.
• Negative Sentiment: Q3 revenue was $669.8 million, below the $672.1 million consensus and down 1.1% year over year. EPS of $2.49 narrowly beat the $2.48 estimate, but was below the year-ago $3.94. Reports also highlighted a 19% drop in products and licenses revenue, which may weigh on future maintenance revenue.
• Negative Sentiment: Fourth-quarter revenue guidance of $720–$770 million fell short of the $787.3 million consensus, and the CEO indicated recovery is taking longer than anticipated. Full-year EPS guidance is above consensus, but revenue guidance of $2.7–$2.8 billion reaches consensus only at the top end. These outlook concerns are a likely source of pressure on the shares. Revenue miss and recovery outlook

Check Point Software Technologies Profile

Check Point Software Technologies Ltd. is a cybersecurity company that develops products and services designed to protect organizations, governments and consumers from cyber threats. Its offerings help secure networks, cloud environments, endpoints, mobile devices, data and remote access, with capabilities including threat prevention, firewall protection, intrusion prevention, email security and security management.

The company organizes its portfolio under platforms that include Quantum for network security, CloudGuard for cloud security and Harmony for user, endpoint and remote-access protection.