CIBC Asset Management Inc Increases Position in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

CIBC Asset Management Inc lifted its position in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 4.1% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 8,374 shares of the technology company’s stock after buying an additional 329 shares during the quarter. CIBC Asset Management Inc’s holdings in Check Point Software Technologies were worth $1,615,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Check Point Software Technologies in the second quarter valued at about $30,000. Kathleen S. Wright Associates Inc. bought a new stake in Check Point Software Technologies during the 3rd quarter valued at approximately $33,000. Concord Wealth Partners purchased a new position in Check Point Software Technologies in the 3rd quarter worth approximately $37,000. Arrow Financial Corp boosted its stake in Check Point Software Technologies by 62.5% in the 3rd quarter. Arrow Financial Corp now owns 260 shares of the technology company’s stock worth $50,000 after purchasing an additional 100 shares during the period. Finally, FSC Wealth Advisors LLC purchased a new stake in Check Point Software Technologies during the 3rd quarter valued at approximately $60,000. Institutional investors own 87.62% of the company’s stock.

Analyst Upgrades and Downgrades

CHKP has been the subject of a number of research reports. Bank of America lowered shares of Check Point Software Technologies from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $205.00 to $195.00 in a research report on Wednesday, October 30th. Royal Bank of Canada reissued a “sector perform” rating and set a $187.00 price objective on shares of Check Point Software Technologies in a report on Wednesday, October 30th. BMO Capital Markets lifted their target price on Check Point Software Technologies from $200.00 to $238.00 and gave the stock a “market perform” rating in a report on Friday, October 25th. Evercore ISI increased their price target on Check Point Software Technologies from $180.00 to $185.00 and gave the company an “in-line” rating in a research note on Wednesday, October 30th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on Check Point Software Technologies from $175.00 to $185.00 and gave the stock a “hold” rating in a research note on Thursday, July 25th. Fifteen analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $197.74.

Check Point Software Technologies Stock Performance

Shares of NASDAQ CHKP opened at $174.56 on Wednesday. Check Point Software Technologies Ltd. has a fifty-two week low of $141.94 and a fifty-two week high of $210.70. The company has a market cap of $19.20 billion, a price-to-earnings ratio of 23.85, a PEG ratio of 2.97 and a beta of 0.63. The business’s 50 day moving average price is $190.92 and its 200-day moving average price is $176.76.

Check Point Software Technologies (NASDAQ:CHKP) last released its earnings results on Tuesday, October 29th. The technology company reported $2.25 earnings per share for the quarter, hitting the consensus estimate of $2.25. The business had revenue of $635.10 million during the quarter, compared to the consensus estimate of $634.96 million. Check Point Software Technologies had a return on equity of 31.84% and a net margin of 33.17%. The business’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same period last year, the company earned $1.80 earnings per share. Sell-side analysts predict that Check Point Software Technologies Ltd. will post 7.87 earnings per share for the current year.

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.