AE Wealth Management LLC Makes New $327,000 Investment in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

AE Wealth Management LLC purchased a new position in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 1,982 shares of the technology company’s stock, valued at approximately $327,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CHKP. Argonautica Private Wealth Management Inc. grew its position in shares of Check Point Software Technologies by 1.3% during the 2nd quarter. Argonautica Private Wealth Management Inc. now owns 5,928 shares of the technology company’s stock valued at $978,000 after acquiring an additional 78 shares during the period. Guardian Wealth Management Inc. grew its position in shares of Check Point Software Technologies by 0.5% during the 4th quarter. Guardian Wealth Management Inc. now owns 18,633 shares of the technology company’s stock valued at $2,847,000 after acquiring an additional 85 shares during the period. Mather Group LLC. grew its position in shares of Check Point Software Technologies by 5.1% during the 2nd quarter. Mather Group LLC. now owns 2,056 shares of the technology company’s stock valued at $337,000 after acquiring an additional 99 shares during the period. Butensky & Cohen Financial Security Inc. grew its position in shares of Check Point Software Technologies by 0.4% during the 1st quarter. Butensky & Cohen Financial Security Inc. now owns 26,472 shares of the technology company’s stock valued at $4,342,000 after acquiring an additional 102 shares during the period. Finally, Legacy Capital Group California Inc. grew its position in shares of Check Point Software Technologies by 6.8% during the 2nd quarter. Legacy Capital Group California Inc. now owns 1,613 shares of the technology company’s stock valued at $266,000 after acquiring an additional 102 shares during the period. 87.62% of the stock is owned by institutional investors and hedge funds.

Check Point Software Technologies Stock Performance

CHKP stock opened at $193.04 on Friday. The firm has a market cap of $21.80 billion, a PE ratio of 26.81, a PEG ratio of 3.05 and a beta of 0.62. The firm’s 50 day moving average price is $186.27 and its 200-day moving average price is $168.74. Check Point Software Technologies Ltd. has a one year low of $126.57 and a one year high of $196.56.

Check Point Software Technologies (NASDAQ:CHKP) last posted its earnings results on Wednesday, July 24th. The technology company reported $2.17 earnings per share for the quarter, beating the consensus estimate of $2.16 by $0.01. Check Point Software Technologies had a net margin of 33.61% and a return on equity of 31.59%. The firm had revenue of $627.40 million during the quarter, compared to the consensus estimate of $623.19 million. During the same quarter last year, the firm earned $1.74 EPS. The firm’s revenue for the quarter was up 6.6% on a year-over-year basis. Equities research analysts predict that Check Point Software Technologies Ltd. will post 7.83 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on CHKP. Jefferies Financial Group raised their target price on Check Point Software Technologies from $210.00 to $225.00 and gave the company a “buy” rating in a research report on Tuesday. Robert W. Baird raised 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 research note on Thursday, July 25th. Royal Bank of Canada raised their price target on shares of Check Point Software Technologies from $165.00 to $187.00 and gave the company a “sector perform” rating in a research note on Thursday, July 25th. Truist Financial reaffirmed a “buy” rating and issued a $200.00 price target (up from $175.00) on shares of Check Point Software Technologies in a research note on Thursday, July 25th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Check Point Software Technologies in a research note on Thursday, July 25th. Sixteen analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $184.47.

Check Point Software Technologies 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.