Principal Securities Inc. Grows Stock Position in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Principal Securities Inc. lifted its position in Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 6.8% in the 3rd quarter, HoldingsChannel reports. The firm owned 28,352 shares of the technology company’s stock after purchasing an additional 1,810 shares during the quarter. Principal Securities Inc.’s holdings in Check Point Software Technologies were worth $5,467,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently modified their holdings of the company. Allspring Global Investments Holdings LLC raised its position in Check Point Software Technologies by 8.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 97,434 shares of the technology company’s stock valued at $15,980,000 after acquiring an additional 7,357 shares in the last quarter. Norden Group LLC purchased a new position in Check Point Software Technologies during the first quarter valued at approximately $200,000. BNP Paribas Financial Markets raised its position in Check Point Software Technologies by 11.5% during the first quarter. BNP Paribas Financial Markets now owns 96,302 shares of the technology company’s stock valued at $15,794,000 after acquiring an additional 9,971 shares in the last quarter. Janney Montgomery Scott LLC grew its holdings in Check Point Software Technologies by 19.6% in the first quarter. Janney Montgomery Scott LLC now owns 23,330 shares of the technology company’s stock valued at $3,826,000 after purchasing an additional 3,822 shares during the period. Finally, Moloney Securities Asset Management LLC acquired a new stake in Check Point Software Technologies in the first quarter valued at approximately $685,000. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have commented on CHKP. Deutsche Bank Aktiengesellschaft raised their price objective on Check Point Software Technologies from $175.00 to $185.00 and gave the company a “hold” rating in a report on Thursday, July 25th. Mizuho raised their price objective on Check Point Software Technologies from $178.00 to $205.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $187.00 price target on shares of Check Point Software Technologies in a research note on Wednesday. Truist Financial lifted their price target on Check Point Software Technologies from $200.00 to $220.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Finally, Barclays lowered their price target on 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. Fifteen equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $197.74.

Check Point Software Technologies Stock Down 1.6 %

CHKP opened at $170.50 on Friday. The firm has a market capitalization of $18.75 billion, a P/E ratio of 23.29, a P/E/G ratio of 2.71 and a beta of 0.62. The firm’s 50 day moving average is $194.47 and its 200-day moving average is $174.75. Check Point Software Technologies Ltd. has a 52-week low of $134.72 and a 52-week high of $210.70.

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 (EPS) for the quarter, meeting analysts’ consensus estimates of $2.25. The company had revenue of $635.10 million for the quarter, compared to analyst estimates of $634.96 million. Check Point Software Technologies had a net margin of 33.17% and a return on equity of 31.84%. The business’s quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter last year, the firm posted $1.80 earnings per share. Equities analysts expect that Check Point Software Technologies Ltd. will post 7.84 earnings per share for the current fiscal year.

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.