Check Point Software Technologies (NASDAQ:CHKP) Reaches New 12-Month High at $196.14

Check Point Software Technologies Ltd. (NASDAQ:CHKP) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $196.14 and last traded at $195.61, with a volume of 90283 shares changing hands. The stock had previously closed at $194.09.

Analyst Upgrades and Downgrades

CHKP has been the subject of several research analyst reports. Robert W. Baird upped their price target on shares of Check Point Software Technologies from $168.00 to $200.00 and gave the company a “neutral” rating in a report on Thursday, July 25th. Barclays boosted their price objective on shares of Check Point Software Technologies from $175.00 to $192.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 25th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Check Point Software Technologies from $175.00 to $185.00 and gave the stock a “hold” rating in a research report on Thursday, July 25th. Needham & Company LLC reaffirmed a “hold” rating on shares of Check Point Software Technologies in a research report on Thursday, July 25th. Finally, JPMorgan Chase & Co. upped their price target on shares of Check Point Software Technologies from $175.00 to $180.00 and gave the stock a “neutral” rating in a research report on Thursday, July 25th. Sixteen investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, Check Point Software Technologies presently has an average rating of “Hold” and a consensus target price of $183.68.

Check Point Software Technologies Stock Up 0.6 %

The firm has a market capitalization of $22.04 billion, a price-to-earnings ratio of 27.02, a P/E/G ratio of 2.96 and a beta of 0.62. The company’s 50 day moving average is $184.48 and its 200 day moving average is $167.87.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in CHKP. Centaurus Financial Inc. boosted its position in Check Point Software Technologies by 83.2% during the 2nd quarter. Centaurus Financial Inc. now owns 1,865 shares of the technology company’s stock worth $308,000 after buying an additional 847 shares during the period. Healthcare of Ontario Pension Plan Trust Fund lifted its position in shares of Check Point Software Technologies by 120.0% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 22,000 shares of the technology company’s stock worth $3,630,000 after purchasing an additional 12,000 shares during the period. Sanctuary Advisors LLC acquired a new position in shares of Check Point Software Technologies in the 2nd quarter worth approximately $703,000. Cetera Investment Advisers lifted its position in shares of Check Point Software Technologies by 6.6% in the 2nd quarter. Cetera Investment Advisers now owns 60,310 shares of the technology company’s stock worth $9,951,000 after purchasing an additional 3,759 shares during the period. Finally, 3Chopt Investment Partners LLC lifted its position in shares of Check Point Software Technologies by 2.2% in the 2nd quarter. 3Chopt Investment Partners LLC now owns 19,441 shares of the technology company’s stock worth $3,208,000 after purchasing an additional 422 shares during the period. Institutional investors own 87.62% of the company’s stock.

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.