Van ECK Associates Corp Acquires 5,405 Shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Van ECK Associates Corp raised its holdings in Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 10.9% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 55,113 shares of the technology company’s stock after purchasing an additional 5,405 shares during the period. Van ECK Associates Corp’s holdings in Check Point Software Technologies were worth $9,094,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Check Point Software Technologies in the 2nd quarter valued at about $30,000. Concord Wealth Partners bought a new stake in Check Point Software Technologies in the 1st quarter valued at about $31,000. Richardson Financial Services Inc. bought a new stake in Check Point Software Technologies in the 4th quarter valued at about $33,000. Annis Gardner Whiting Capital Advisors LLC bought a new stake in Check Point Software Technologies in the 4th quarter valued at about $92,000. Finally, Transcendent Capital Group LLC bought a new stake in shares of Check Point Software Technologies during the 1st quarter worth approximately $107,000. Institutional investors own 87.62% of the company’s stock.

Check Point Software Technologies Stock Performance

Shares of NASDAQ CHKP opened at $192.50 on Tuesday. Check Point Software Technologies Ltd. has a 52-week low of $126.57 and a 52-week high of $193.27. The firm has a 50 day moving average price of $177.70 and a two-hundred day moving average price of $164.80. The stock has a market cap of $21.74 billion, a P/E ratio of 26.74, a price-to-earnings-growth ratio of 3.00 and a beta of 0.62.

Check Point Software Technologies (NASDAQ:CHKP) last posted its quarterly earnings data on Wednesday, July 24th. The technology company reported $2.17 earnings per share for the quarter, topping 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 company had revenue of $627.40 million during the quarter, compared to analysts’ expectations of $623.19 million. During the same period in the prior year, the company posted $1.74 earnings per share. Check Point Software Technologies’s revenue for the quarter was up 6.6% compared to the same quarter last year. Analysts predict that Check Point Software Technologies Ltd. will post 7.83 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on CHKP. Truist Financial reaffirmed a “buy” rating and set a $200.00 price target (up previously from $175.00) on shares of Check Point Software Technologies in a report on Thursday, July 25th. Royal Bank of Canada upped their price target on shares of Check Point Software Technologies from $165.00 to $187.00 and gave the stock a “sector perform” rating in a report on Thursday, July 25th. Susquehanna upped their price target on shares of Check Point Software Technologies from $200.00 to $215.00 and gave the stock a “positive” rating in a report on Thursday, July 25th. BMO Capital Markets upped their price target on shares of Check Point Software Technologies from $180.00 to $200.00 and gave the stock a “market perform” rating in a report on Thursday, July 25th. Finally, Barclays increased their price objective on shares of Check Point Software Technologies from $175.00 to $192.00 and gave the company an “equal weight” rating in a research note on Thursday, July 25th. Fifteen investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $183.68.

About Check Point Software Technologies

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.