Oppenheimer Asset Management Inc. Takes $774,000 Position in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Oppenheimer Asset Management Inc. purchased a new stake in Check Point Software Technologies Ltd. (NASDAQ:CHKP) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 4,016 shares of the technology company’s stock, valued at approximately $774,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Tidal Investments LLC acquired a new stake in shares of Check Point Software Technologies in the first quarter valued at approximately $6,558,000. CWA Asset Management Group LLC bought a new position in Check Point Software Technologies in the third quarter valued at approximately $1,599,000. M&G Plc increased its stake in Check Point Software Technologies by 10.0% in the second quarter. M&G Plc now owns 108,449 shares of the technology company’s stock valued at $17,894,000 after acquiring an additional 9,830 shares during the last quarter. Quadrature Capital Ltd bought a new position in Check Point Software Technologies in the first quarter valued at approximately $2,928,000. Finally, State Board of Administration of Florida Retirement System grew its stake in shares of Check Point Software Technologies by 50.7% during the first quarter. State Board of Administration of Florida Retirement System now owns 27,288 shares of the technology company’s stock worth $4,476,000 after buying an additional 9,180 shares during the last quarter. 87.62% of the stock is currently owned by institutional investors and hedge funds.

Check Point Software Technologies Stock Performance

Check Point Software Technologies stock opened at $173.53 on Tuesday. The stock’s 50 day moving average price is $191.22 and its two-hundred day moving average price is $176.59. The stock has a market capitalization of $19.08 billion, a price-to-earnings ratio of 23.71, a PEG ratio of 2.97 and a beta of 0.63. Check Point Software Technologies Ltd. has a 52-week low of $141.94 and a 52-week high of $210.70.

Check Point Software Technologies (NASDAQ:CHKP) last posted its quarterly earnings results on Tuesday, October 29th. The technology company reported $2.25 EPS for the quarter, hitting analysts’ consensus estimates of $2.25. Check Point Software Technologies had a net margin of 33.17% and a return on equity of 31.84%. The business had revenue of $635.10 million during the quarter, compared to analysts’ expectations of $634.96 million. During the same period last year, the company posted $1.80 earnings per share. The business’s quarterly revenue was up 6.5% on a year-over-year basis. On average, equities research analysts forecast that Check Point Software Technologies Ltd. will post 7.87 EPS for the current year.

Analyst Ratings Changes

CHKP has been the topic of a number of research reports. Bank of America cut shares of Check Point Software Technologies from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $205.00 to $195.00 in a research note on Wednesday, October 30th. Jefferies Financial Group boosted their target price on shares of Check Point Software Technologies from $210.00 to $225.00 and gave the stock a “buy” rating in a research note on Tuesday, September 24th. Robert W. Baird decreased their target price on shares of Check Point Software Technologies from $210.00 to $205.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 30th. Barclays decreased their target price on shares of Check Point Software Technologies from $210.00 to $200.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 29th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Check Point Software Technologies in a research note on Wednesday, October 30th. Fifteen analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, Check Point Software Technologies presently has a consensus rating of “Hold” and an average price target 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.