Penn Davis Mcfarland Inc. Grows Position in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Penn Davis Mcfarland Inc. lifted its stake in Check Point Software Technologies Ltd. (NASDAQ:CHKPGet Rating) by 0.4% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 113,717 shares of the technology company’s stock after buying an additional 427 shares during the quarter. Check Point Software Technologies makes up about 2.6% of Penn Davis Mcfarland Inc.’s investment portfolio, making the stock its 19th largest position. Penn Davis Mcfarland Inc. owned about 0.09% of Check Point Software Technologies worth $13,848,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of the stock. Principal Financial Group Inc. raised its stake in Check Point Software Technologies by 4.3% during the fourth quarter. Principal Financial Group Inc. now owns 11,923 shares of the technology company’s stock valued at $1,390,000 after purchasing an additional 490 shares in the last quarter. Private Advisor Group LLC raised its stake in Check Point Software Technologies by 39.0% during the fourth quarter. Private Advisor Group LLC now owns 2,532 shares of the technology company’s stock valued at $295,000 after purchasing an additional 711 shares in the last quarter. abrdn plc raised its stake in shares of Check Point Software Technologies by 6.4% in the fourth quarter. abrdn plc now owns 10,594 shares of the technology company’s stock valued at $1,235,000 after acquiring an additional 641 shares during the period. Invesco Ltd. raised its stake in shares of Check Point Software Technologies by 1.1% in the fourth quarter. Invesco Ltd. now owns 157,564 shares of the technology company’s stock valued at $18,366,000 after acquiring an additional 1,686 shares during the period. Finally, Public Sector Pension Investment Board raised its stake in shares of Check Point Software Technologies by 5.7% in the fourth quarter. Public Sector Pension Investment Board now owns 52,771 shares of the technology company’s stock valued at $6,151,000 after acquiring an additional 2,838 shares during the period. Hedge funds and other institutional investors own 67.03% of the company’s stock.

Check Point Software Technologies Stock Performance

Check Point Software Technologies stock traded down $1.00 during trading on Friday, reaching $111.37. The company had a trading volume of 28,398 shares, compared to its average volume of 650,256. Check Point Software Technologies Ltd. has a 1-year low of $107.85 and a 1-year high of $149.62. The firm’s 50-day simple moving average is $121.44 and its 200 day simple moving average is $126.98. The firm has a market capitalization of $13.97 billion, a PE ratio of 18.60, a price-to-earnings-growth ratio of 2.48 and a beta of 0.61.

Check Point Software Technologies (NASDAQ:CHKPGet Rating) last announced its earnings results on Monday, August 1st. The technology company reported $1.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.35 by $0.05. Check Point Software Technologies had a net margin of 35.15% and a return on equity of 25.49%. The company had revenue of $571.10 million for the quarter, compared to analysts’ expectations of $560.40 million. During the same quarter in the previous year, the company posted $1.41 EPS. The firm’s quarterly revenue was up 8.6% on a year-over-year basis. Analysts anticipate that Check Point Software Technologies Ltd. will post 6.29 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. BMO Capital Markets reduced their target price on shares of Check Point Software Technologies from $155.00 to $150.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 2nd. Piper Sandler cut their price target on shares of Check Point Software Technologies from $130.00 to $120.00 in a report on Wednesday, July 13th. Bank of America upgraded shares of Check Point Software Technologies from an “underperform” rating to a “buy” rating and upped their price target for the stock from $130.00 to $140.00 in a report on Wednesday, July 20th. Finally, Barclays cut their price target on shares of Check Point Software Technologies from $145.00 to $140.00 and set an “equal weight” rating on the stock in a report on Tuesday, August 2nd. Five analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $139.06.

Check Point Software Technologies Profile

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Check Point Software Technologies Ltd. develops, markets, and supports a range of products and services for IT security worldwide. The company offers a portfolio of network security, endpoint security, data security, and management solutions. It provides Check Point Infinity Architecture, a cyber security architecture that protects against 5th and 6th generation cyber-attacks across various networks, endpoint, cloud, workloads, Internet of Things, and mobile.

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

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