Apollon Wealth Management LLC Takes $334,000 Position in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Apollon Wealth Management LLC acquired a new stake in Check Point Software Technologies Ltd. (NASDAQ:CHKP) in the 3rd quarter, Holdings Channel reports. The firm acquired 1,734 shares of the technology company’s stock, valued at approximately $334,000.

Several other hedge funds also recently modified their holdings of the business. Swedbank AB bought a new position in Check Point Software Technologies in the first quarter worth $69,487,000. Boston Partners lifted its position in Check Point Software Technologies by 13.1% in the first quarter. Boston Partners now owns 3,623,923 shares of the technology company’s stock worth $594,169,000 after purchasing an additional 419,404 shares during the period. Acadian Asset Management LLC lifted its position in Check Point Software Technologies by 10.5% in the second quarter. Acadian Asset Management LLC now owns 4,108,685 shares of the technology company’s stock worth $677,869,000 after purchasing an additional 391,983 shares during the period. Marshall Wace LLP bought a new position in Check Point Software Technologies in the second quarter worth $47,244,000. Finally, Meitav Investment House Ltd. lifted its position in Check Point Software Technologies by 1,295.8% in the second quarter. Meitav Investment House Ltd. now owns 209,612 shares of the technology company’s stock worth $34,557,000 after purchasing an additional 194,595 shares during the period. 87.62% of the stock is owned by institutional investors.

Check Point Software Technologies Stock Down 1.9 %

Shares of CHKP stock opened at $174.25 on Monday. The stock has a 50-day moving average price of $191.52 and a 200 day moving average price of $176.42. The firm has a market cap of $19.16 billion, a price-to-earnings ratio of 23.80, a PEG ratio of 2.97 and a beta of 0.63. Check Point Software Technologies Ltd. has a 12 month low of $139.55 and a 12 month high of $210.70.

Check Point Software Technologies (NASDAQ:CHKP) last announced its quarterly earnings data on Tuesday, October 29th. The technology company reported $2.25 EPS for the quarter, hitting analysts’ consensus estimates of $2.25. The firm had revenue of $635.10 million during the quarter, compared to analyst estimates of $634.96 million. Check Point Software Technologies had a return on equity of 31.84% and a net margin of 33.17%. The company’s revenue was up 6.5% on a year-over-year basis. 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 fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Susquehanna raised their target price on Check Point Software Technologies from $200.00 to $215.00 and gave the stock a “positive” rating in a research report on Thursday, July 25th. Wedbush raised their target price on Check Point Software Technologies from $200.00 to $230.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 9th. Scotiabank increased their price objective on Check Point Software Technologies from $180.00 to $200.00 and gave the stock a “sector outperform” rating in a research note on Thursday, July 25th. BMO Capital Markets increased their price objective on Check Point Software Technologies from $200.00 to $238.00 and gave the stock a “market perform” rating in a research note on Friday, October 25th. Finally, JPMorgan Chase & Co. increased their price objective on Check Point Software Technologies from $180.00 to $210.00 and gave the stock a “neutral” rating in a research note on Monday, October 28th. Fifteen investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $197.74.

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.