Check Point Software Technologies (NASDAQ:CHKP) Sets New 1-Year High at $170.21

Check Point Software Technologies Ltd. (NASDAQ:CHKP)’s share price reached a new 52-week high during trading on Wednesday . The company traded as high as $170.21 and last traded at $169.88, with a volume of 65767 shares. The stock had previously closed at $167.73.

Wall Street Analyst Weigh In

CHKP has been the subject of several recent analyst reports. KeyCorp upgraded Check Point Software Technologies to a “hold” rating in a research note on Tuesday, May 14th. Stifel Nicolaus dropped their price target on shares of Check Point Software Technologies from $170.00 to $165.00 and set a “hold” rating on the stock in a report on Friday, April 26th. Wedbush reiterated an “outperform” rating and issued a $185.00 price target on shares of Check Point Software Technologies in a research note on Friday, April 26th. Needham & Company LLC restated a “hold” rating on shares of Check Point Software Technologies in a report on Friday, April 26th. Finally, Mizuho reiterated a “neutral” rating and set a $160.00 target price on shares of Check Point Software Technologies in a research note on Wednesday, March 27th. Thirteen research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $169.18.

Check Point Software Technologies Stock Up 0.6 %

The firm has a market capitalization of $19.06 billion, a P/E ratio of 23.44, a PEG ratio of 2.60 and a beta of 0.62. The stock has a fifty day simple moving average of $154.27 and a 200 day simple moving average of $157.58.

Check Point Software Technologies (NASDAQ:CHKP) last issued its earnings results on Thursday, April 25th. The technology company reported $1.72 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.72. Check Point Software Technologies had a return on equity of 31.42% and a net margin of 34.33%. The company had revenue of $598.80 million for the quarter, compared to the consensus estimate of $595.28 million. Research analysts anticipate that Check Point Software Technologies Ltd. will post 7.79 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Check Point Software Technologies

Institutional investors have recently bought and sold shares of the stock. Tower Research Capital LLC TRC grew its position in shares of Check Point Software Technologies by 22.8% during the third quarter. Tower Research Capital LLC TRC now owns 7,254 shares of the technology company’s stock valued at $967,000 after purchasing an additional 1,345 shares in the last quarter. Truist Financial Corp grew its holdings in Check Point Software Technologies by 191.6% during the 3rd quarter. Truist Financial Corp now owns 117,453 shares of the technology company’s stock valued at $15,654,000 after buying an additional 77,181 shares in the last quarter. Glenmede Trust Co. NA increased its stake in Check Point Software Technologies by 3.3% in the 3rd quarter. Glenmede Trust Co. NA now owns 3,354 shares of the technology company’s stock worth $447,000 after acquiring an additional 107 shares during the last quarter. Evergreen Capital Management LLC raised its holdings in shares of Check Point Software Technologies by 1,532.8% during the 3rd quarter. Evergreen Capital Management LLC now owns 28,297 shares of the technology company’s stock worth $3,771,000 after acquiring an additional 26,564 shares in the last quarter. Finally, Legal & General Group Plc boosted its position in shares of Check Point Software Technologies by 3.4% during the 3rd quarter. Legal & General Group Plc now owns 1,626,814 shares of the technology company’s stock valued at $216,822,000 after acquiring an additional 52,863 shares during the last quarter. 87.62% of the stock is owned by hedge funds and other institutional investors.

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.