Empirical Finance LLC Purchases New Shares in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Empirical Finance LLC acquired a new position in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 6,994 shares of the technology company’s stock, valued at approximately $812,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Harbor Investment Advisory LLC bought a new stake in shares of Check Point Software Technologies in the 2nd quarter worth approximately $28,000. Arkadios Wealth Advisors raised its stake in Check Point Software Technologies by 178.8% during the second quarter. Arkadios Wealth Advisors now owns 276 shares of the technology company’s stock valued at $32,000 after buying an additional 177 shares during the last quarter. Institutional & Family Asset Management LLC bought a new stake in Check Point Software Technologies in the first quarter worth $35,000. Meeder Asset Management Inc. grew its stake in shares of Check Point Software Technologies by 151.6% in the first quarter. Meeder Asset Management Inc. now owns 322 shares of the technology company’s stock worth $36,000 after acquiring an additional 194 shares during the last quarter. Finally, Stonebridge Capital Advisors LLC bought a new position in shares of Check Point Software Technologies during the first quarter valued at $47,000. 66.37% of the stock is owned by institutional investors and hedge funds.

NASDAQ CHKP opened at $116.34 on Wednesday. Check Point Software Technologies Ltd. has a twelve month low of $109.07 and a twelve month high of $139.26. The business has a 50-day moving average price of $123.62 and a 200-day moving average price of $119.34. The firm has a market cap of $15.96 billion, a price-to-earnings ratio of 19.13, a price-to-earnings-growth ratio of 2.73 and a beta of 0.65.

Check Point Software Technologies (NASDAQ:CHKP) last announced its quarterly earnings results on Sunday, July 25th. The technology company reported $1.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.56 by $0.05. Check Point Software Technologies had a net margin of 39.90% and a return on equity of 25.58%. The company had revenue of $526.10 million for the quarter, compared to the consensus estimate of $523.96 million. During the same period in the previous year, the firm posted $1.58 EPS. Check Point Software Technologies’s revenue for the quarter was up 4.1% compared to the same quarter last year. On average, sell-side analysts forecast that Check Point Software Technologies Ltd. will post 6.04 earnings per share for the current fiscal year.

A number of research firms have recently commented on CHKP. BMO Capital Markets increased their price target on shares of Check Point Software Technologies from $135.00 to $140.00 and gave the company a “market perform” rating in a report on Tuesday, July 27th. Cowen began coverage on shares of Check Point Software Technologies in a report on Wednesday, May 26th. They set an “outperform” rating and a $140.00 price target on the stock. Morgan Stanley increased their price objective on shares of Check Point Software Technologies from $110.00 to $114.00 and gave the company an “underweight” rating in a research report on Tuesday, July 27th. OTR Global raised shares of Check Point Software Technologies from a “mixed” rating to a “positive” rating in a research report on Friday, July 9th. Finally, The Goldman Sachs Group lowered shares of Check Point Software Technologies from a “neutral” rating to a “sell” rating and decreased their target price for the company from $133.00 to $121.00 in a research note on Monday. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Check Point Software Technologies currently has a consensus rating of “Hold” and a consensus price target of $134.42.

Check Point Software Technologies Company Profile

Check Point Software Technologies Ltd. engages in the development and market of software and hardware solutions for information technology security. Its products include threat prevention, next generation firewalls, mobile security, and security management. The company was founded by Gil Shwed, Marius Nacht, and Shlomo Kramer in July 1993 and is headquartered in Tel Aviv, Israel.

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Institutional Ownership by Quarter for Check Point Software Technologies (NASDAQ:CHKP)

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