Bank of Montreal Can Grows Holdings in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Bank of Montreal Can raised its position in Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 32.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 85,639 shares of the technology company’s stock after buying an additional 20,866 shares during the period. Bank of Montreal Can’s holdings in Check Point Software Technologies were worth $16,532,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Check Point Software Technologies in the second quarter valued at about $30,000. Kathleen S. Wright Associates Inc. purchased a new position in shares of Check Point Software Technologies during the 3rd quarter valued at approximately $33,000. Concord Wealth Partners acquired a new stake in shares of Check Point Software Technologies during the third quarter worth approximately $37,000. Arrow Financial Corp increased its stake in shares of Check Point Software Technologies by 62.5% in the third quarter. Arrow Financial Corp now owns 260 shares of the technology company’s stock worth $50,000 after buying an additional 100 shares during the last quarter. Finally, FSC Wealth Advisors LLC acquired a new stake in Check Point Software Technologies in the third quarter valued at $60,000. 87.62% of the stock is currently owned by institutional investors and hedge funds.

Check Point Software Technologies Price Performance

Shares of Check Point Software Technologies stock opened at $182.00 on Friday. Check Point Software Technologies Ltd. has a 1-year low of $143.28 and a 1-year high of $210.70. The company has a market capitalization of $20.02 billion, a P/E ratio of 24.86, a PEG ratio of 3.10 and a beta of 0.63. The business’s fifty day moving average price is $189.23 and its two-hundred day moving average price is $178.21.

Check Point Software Technologies (NASDAQ:CHKP) last posted its quarterly earnings data 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 net margin of 33.17% and a return on equity of 31.84%. The company’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.80 earnings per share. On average, research analysts expect that Check Point Software Technologies Ltd. will post 7.86 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Robert W. Baird dropped their target price on shares of Check Point Software Technologies from $210.00 to $205.00 and set a “neutral” rating for the company in a research report on Wednesday, October 30th. Bank of America cut Check Point Software Technologies from a “buy” rating to a “neutral” rating and cut their price objective for the company from $205.00 to $195.00 in a research note on Wednesday, October 30th. Barclays decreased their target price on Check Point Software Technologies from $210.00 to $200.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 29th. JPMorgan Chase & Co. boosted their price target on Check Point Software Technologies from $180.00 to $210.00 and gave the company a “neutral” rating in a report on Monday, October 28th. Finally, Wedbush raised their price objective on Check Point Software Technologies from $200.00 to $230.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 9th. Fifteen analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $197.74.

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.