Foundry Partners LLC Increases Position in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Foundry Partners LLC lifted its stake in Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 45.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,144 shares of the technology company’s stock after acquiring an additional 975 shares during the period. Foundry Partners LLC’s holdings in Check Point Software Technologies were worth $606,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in CHKP. Tidal Investments LLC bought a new position in Check Point Software Technologies in the first quarter worth about $6,558,000. CWA Asset Management Group LLC bought a new position in shares of Check Point Software Technologies during the 3rd quarter worth approximately $1,599,000. M&G Plc lifted its position in Check Point Software Technologies by 10.0% during the second quarter. M&G Plc now owns 108,449 shares of the technology company’s stock valued at $17,894,000 after acquiring an additional 9,830 shares during the last quarter. Quadrature Capital Ltd acquired a new stake in Check Point Software Technologies in the first quarter valued at approximately $2,928,000. Finally, California State Teachers Retirement System boosted its stake in Check Point Software Technologies by 11.6% in the first quarter. California State Teachers Retirement System now owns 149,989 shares of the technology company’s stock valued at $24,600,000 after acquiring an additional 15,647 shares in the last quarter. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

Check Point Software Technologies Trading Down 0.1 %

Shares of CHKP stock opened at $181.75 on Friday. The stock has a market cap of $19.99 billion, a P/E ratio of 24.83, a P/E/G ratio of 2.97 and a beta of 0.63. Check Point Software Technologies Ltd. has a twelve month low of $143.28 and a twelve month high of $210.70. The stock has a 50 day moving average of $190.21 and a 200 day moving average of $177.00.

Check Point Software Technologies (NASDAQ:CHKP) last announced its quarterly earnings results on Tuesday, October 29th. The technology company reported $2.25 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $2.25. The firm had revenue of $635.10 million for the quarter, compared to the consensus estimate of $634.96 million. Check Point Software Technologies had a net margin of 33.17% and a return on equity of 31.84%. The firm’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.80 earnings per share. On average, research analysts predict that Check Point Software Technologies Ltd. will post 7.87 earnings per share for the current fiscal year.

Analyst Ratings Changes

CHKP has been the subject of several analyst reports. Truist Financial increased their price objective on Check Point Software Technologies from $200.00 to $220.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Royal Bank of Canada reiterated a “sector perform” rating and issued a $187.00 price target on shares of Check Point Software Technologies in a research note on Wednesday, October 30th. Bank of America lowered Check Point Software Technologies from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $205.00 to $195.00 in a research note on Wednesday, October 30th. Evercore ISI increased their price objective on shares of Check Point Software Technologies from $180.00 to $185.00 and gave the company an “in-line” rating in a research report on Wednesday, October 30th. Finally, Robert W. Baird lowered their target price on shares of Check Point Software Technologies from $210.00 to $205.00 and set a “neutral” rating for the company in a research note on Wednesday, October 30th. Fifteen analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average 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.